Posted on 04/17/2011 4:03:49 AM PDT by Cincinatus' Wife
Gov. Scott Walker’s proposed budget would reduce tax credits for the poor — effectively taking money out of their pockets — while decreasing taxes overall, according to a nonpartisan report released Friday.
Low and middle income people would lose tax credits worth about $49.4 million over two years, the new Legislative Fiscal Bureau report said.
Those affected most by Walker’s proposal would include low-income families who qualify for the earned income tax credit program, and low-income homeowners who receive tax rebates under the homestead tax credit.
Walker repeatedly promised during his campaign for governor not to raise taxes.
Democratic lawmakers now accuse the new Republican governor of breaking his word, and making corporations a priority at the expense of poor families.
“Budgets really are about choices and priorities,” said state Rep. Donna Seidel, D-Wausau. “And while we hear Gov. Walker talk about shared sacrifice, what we see is that he is attempting to balance the budget on the backs of working class families and the most vulnerable, while continuing to give tax breaks to the wealthiest corporations.”
[excerpt] "....Walker's tax cuts would total $83.3 million and are primarily for businesses and investors.
Walker's proposal would increase taxes by $49.4 million for low-income people, according to the fiscal bureau.
For years, the working poor who have children have qualified for a state income tax credit that is meant to boost their wages and offset Social Security taxes and other taxes they pay. Walker's proposal changes the formula so those workers would receive less in credits.
Those who qualify for the program can get money from the government even if they have no state income tax liability. According to the fiscal bureau, 77% of those who qualify for the credit do not owe any state income taxes and get a check from the state.
The remaining 23% owe state taxes and the credit lowers their liability. Under Walker's plan, they'll get less of a credit - and thus owe more in taxes.
Vos said he did not view that as a tax increase because it is a tax credit program, echoing past comments from the governor. Walker pledged during the campaign not to raise any taxes...."
“Gov. Scott Walker's proposed budget would reduce tax credits for the poor — effectively taking money out of their pockets — while decreasing taxes overall, according to a nonpartisan report released Friday.
Low and middle income people would lose tax credits worth about $49.4 million over two years, the new Legislative Fiscal Bureau report said.
Those affected most by Walker's proposal would include low-income families who qualify for the earned income tax credit program, and low-income homeowners who receive tax rebates under the homestead tax credit.
Walker repeatedly promised during his campaign for governor not to raise taxes. … [end excerpt]
— effectively taking money out of their pockets
It wasn’t money in their pockets to begin with. It was money in the state coffers put there by the tax paying citizens.
It effectively begins ending the redistribution of wealth. Weaning off the taxpayer teat needs to start somewhere.
Good! The EITC is the biggest scam going. Many “Low Income” people are able to be classified as low income because they are probably also working off the books.
Just like food stamps the Left seeks out people to cripple with these programs.
“Tax increases on the poor,” my a$$. They’re just having their wealth redistribution checks stopped. They are PAYING NOTHING!
Taking money from one person just to give to another is wrong.
Governments should get out of the social welfare business. It is a game that can not be won.
Want to help the poor? Make it easier to earn a living.
The old saying is Tax what you want less of and give money to what you want more of.
Poverty in this nation is still a problem (if you believe the government numbers) yet trillions of dollars have been taken from one group of citizens and given to another.
When will they realize that this will not end poverty (but will bankrupt the nation).
I grew up in the 1950s, my own experience shows that poverty was not static. People for what ever reason dropped into poverty but seldom stayed there. So while the numbers were constant, the individuals were not. Poor people did what they could to get out of poverty and did what ever they could so their children would have a better live.
This was before welfare as we know it today.
Welfare is evil because it is just enough to rob an individual of the desire (or need) to do better.
Bump!
The po can move over to Minnesota where they’ll have two Democrat Senators (one stole an election) to take care of them
Women and minorites hardest hit!
Another thing - they keep redefining "poverty"! The poverty level used to reflect people who were actually deprived of the necessities one needed to sustain life. Now, poverty level simply means those who don't have what rich people have!
Solidarity Wisconsin?...
I will assume that is the website of some labor union.
I will not click on it, as I do not wish to defile my computer.
Yep, when Dims add a bunch of “surcharges for services that are supposed to be basic rights that the gubmint supplies by taking money from workers” it’s not a tax hike. When a conservative stops throwing already collected tax receipts down the drain, it’s a “tax hike”. No wonder kids today think that if they have a few numbers in their “solution” they are doing real math...
Isn't that what Al Sharpton says? -- "No social justice until everything is equal!"
And "rich" has been redefined too.
The word "entitlement" along with the constant use of "deserve" has deformed people into emotional, nonproductive cripples.
And let's stop with the "hand up" and call it what it is, a "hand out" to trap people in poverty so you own them and their votes.
Along with the tax adjustment is a poor adjustment. The people are not poor except by the definition that makes them subservient to their political masters.
Poverty can be alleviated by work and by adjustment of the definition of poor.
Nailed it! For the life of me, I don't understand why we idolize the poor and vilify the rich in this country. If I have columns of "Good-Bad" on a piece of paper for the rich and one for the poor, I look at the good things rich people do the list is quite long (entrepreneurship, creating jobs, charities, etc.). For the poor, nothing, other than they increase aggregate demand using MY money. This is definitely a step in the right direction.
Yes! Let the dems look after their “investments!”
Ah, so the "Wisconsin State Journal" effectively lied.
This wasn’t one of Milt Friedman’s best ideas.
"Tax increases on the poor" -- very hard for people to wrap their head around this one because it is so unbelievably wrong-headed -- ie the poor don't pay taxes but conservatives want them to suffer more by not taxing them (just not paying them to stay poor).
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