Walker Thought His Business Tax Break Would Stimulate The Economy. The Early Returns Aren’t Good.

[riversedge]

Spud Lovr ?@SpudLovr 32m32 minutes ago

Scott Walker’s Tax Giveaway To Rich Isn’t Doing Much For Anybody Else http://thkpr.gs/3794729 via @thinkprogress #wiunion #wiright #p2 #ctl

?t=HBheaHR0cDovL2Nkbi50aGlua3Byb2dyZXNzLm9yZy93cC1jb250ZW50L3VwbG9hZHMvMjAxNi8wNi8zMDE2MzQ0OC9BUF8xNjE3MzY3Mzg4NjQ1Mi0zMjF4MjE0LmpwZxSCBRTOAhwUhAYUlAMAABYAEgA&s=j6Ohn2Em_Acat4WtOQ2TuzgOnMGmmfGJ5IdMN-gLkw0

Seems all red states are having financial problems! GOTV for the Democrats--All of them please.


Walker Thought His Business Tax Break Would Stimulate The Economy. The Early Returns Aren’t Good.

http://thinkprogress.org/politics/2016/06/30/3794729/scott-walker-mac-tax-break-for-rich-not-working-for-everyone-else/

by Aaron Rupar Jun 30, 2016 5:08 pm

In 2011 — the same year Scott Walker became governor — Wisconsin enacted a Manufacturing and Agriculture Credit (MAC) meant to stimulate the state economy by providing tax relief for those who use property for productive purposes. A new study indicates it’s providing lots of tax relief for the rich but not much economic stimulus for anybody else.

The Wisconsin Budget Project study finds that MAC is taking a much greater toll on the state budget than lawmakers envisioned. Though it was initially estimated that the credit would reduce tax collections by $129 million in fiscal year 2017, the Wisconsin Department of Revenue now estimates it’ll cost $284 million next year. That’s roughly $30 million more than the amount Walker and the Republican-controlled legislature cut from the University of Wisconsin System in 2015.

The study also finds that MAC disproportionately benefits the rich and has had a negligible impact on job creation. Tax filers who make $1 million or more received 78 percent of the total credit amount this year, while those who make less than $300,000 got just seven percent. In return for that massive tax giveaway to the wealthy, Wisconsin’s manufacturing sector, which receives five out of every six MAC dollars, has actually shrunk relative to the rest of the state’s economy....................





by Aaron Rupar Jun 30, 2016 5:08 pm

[Exilednight]

1. we should call trickle down economic what it really is

Piss down economics.

[Else You Are Mad]

2. Well, we have been waiting for the various forms of the trickle down economics....

For over the last 30 years to benefit the lower and middle classes. It is obviously a tremendous and horrible failure. Yet, these Republican politicians keep getting elected by pushing these BS tax plans.

[Wellstone ruled]

3. My guess is,

after looking at the other graphic,Menards open a couple of stores as well as Fleet Farm. ABC Building Products probably increased sales in Roofing Materials as the result of normal Weather related issues,Ashley Furniture just happened to increase top line sales through normal market conditions. Roundy Family sold to Kroger and thus a few more hires. That does not say much for the residents of Wisconsin who got snookered and did not realize what hit them. But our Packers are back and we still get Thanksgiving week off for Deer Season.

[Ernesto]

4. Hey Scotty......

Did Sam Brownback show ya how to do this?

[louis-t]

5. I said it 20 years ago and I'll say it again.

Tax breaks for the rich do not induce anyone to create jobs, demand creates jobs. Given huge tax breaks, the rich will put the money in their pockets.