Wisconsin drops to 8th highest taxed stateIs there a statistician in the blogosphere? Is 0.05% statistically significant?
There's good news and bad news for Badger State taxpayers today, courtesy of analysts at Wisconsin Taxpayers Alliance in Madison.
The bad news: Wisconsin is still on the top 10 list for highest-taxing states in America, based on 2004-2005 incomes and state-local tax burden.
The good news: We've dropped from sixth highest to eighth highest, as our share of income paid for taxes dipped to 12.13% from 12.18% a year earlier.
When user fees and charges are factored in, Wisconsin's ranking drops out of the top 10, to 13th - also an improvement over a year ago, the nonprofit public interest group reported.
Also ...
I would hate to see what Doyle would do if that wasn't a priority. How much more than $1.7 Billion would his proposed tax increase be?Doyle and other state and business leaders have made a goal of getting Wisconsin out of the top 10 states in tax burden as a percentage of personal income.
"We've worked hard in this state, Democrats and Republicans, to hold the line on taxes, and give middle-class families relief in the areas they need it most," Doyle said in a statement issued by his office in reaction to the alliance report. "We've made progress in lowering the tax burden on Wisconsin citizens and businesses, but we still have work to do."
State economy growth lags national rateNo. 8 highest in taxes. No. 9 lowest in economic growth. No one at the paper saw a connection between these two rankings?
Wisconsin's economy grew at 1.8% last year, well below the 3.4% increase nationally, according to the federal Bureau of Economic Analysis.
Of the 50 states, Wisconsin had the 42nd highest growth rate last year, the BEA reported.
Wisconsin grew more slowly than all of its neighbors except Michigan, which was the only state to see its economy shrink last year, the BEA said. Illinois's economy grew 3.0%, Minnesota's 2.9% and Iowa's 2.6%. Michigan's fell 0.5%.
On a per capita basis, Wisconsin's economy produced $35,390 last year, 25th among the 50 states, the BEA reported. That was 94% of the national average.
H/T - No Runny Eggs
2 comments:
It's worse than that.
Since Wisconsin's per-cap individual INCOME is only about 85% of the national average, our higher per-cap TAX take is 'double strangulation.'
It's only significant if you consider $25 on a $50,000 salary significant. Considering that sales tax revenue didn't keep up with inflation, I don't think the rest of the state thinks it's significant either.
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