Posts Tagged ‘taxes’

Low taxes: The devil is in the detail

November 27, 2009

Milwaukee Journal Sentinel:

“But in comparison to other states, Wisconsin’s total tax bite on incomes plummeted to just above the national average in newly released figures.

And the Badger State’s consistent top-five tax perch has slipped steadily down to 15th in the latest rankings.”

And just in case Scott Walker wasn’t happy enough…

School spending: In 2007, spending at the K-12 grade level tumbled below the per-capita U.S. average for the first time in at least two decades and likely much longer. The state had been in the top 10 for many years, with spending up to 18% more than average. The newest national ranking: 22.

Wisconsin taxpayer — Ouch

August 25, 2009

The Wisconsin Taxpayer report for 2009 just came out. Highlights:

Wisconsin has the 10th highest income tax rate in the country, at 3.3 percent.

Because of a change in the maximum property tax a municipality can levy, property taxes have increased 4.5 percent from last year.

Nevertheless, the importance of the income tax in the state budget has been relatively constant since before anybody can remember. It consistently accounts for roughly half of the state’s revenue. Middle class families, who represent about 40 percent of taxpayers, generate about half of that, while upper income taxpayers (more than $100,000), who account for about 10% of the population, pay about 40 percent. Low income individuals (less than $30,000) and families pay the remaining 11 percent.

Minnesota has higher taxes than us, while Iowa, Illinois and Michigan demand a significantly lower tax burden.