Conservatively Speaking
State Senator Mary Lazich (R-New Berlin) represents parts of four counties: Milwaukee, Waukesha, Racine, and Walworth. Her Senate District 28 includes New Berlin, Franklin, Greendale, Hales Corners, Muskego, Waterford, Big Bend, the town of Vernon and parts of Greenfield, East Troy, and Mukwonago. Senator Lazich has been in the Legislature for more than a decade. She considers herself a tireless crusader for lower taxes, reduced spending and smaller government.
Tapping, i.e., taxing, high earners
The Wall Street Journal has taken notice that Wisconsin is among several states attempting to balance budgets off the backs of higher wage earners.
Governor Doyle’s proposal to impose higher taxes on wealthier residents is bad economic policy for the state. During December 2007, I blogged that the entire state loses with higher taxes forcing wealthier individuals to move out. I wrote:
“During November 2005, the Wisconsin Taxpayer Alliance issued a very troubling report entitled, ‘Moving In, Moving on: Migration in Wisconsin.’ During the five years prior to the 2000 census, almost 669,000 people either moved to or out of Wisconsin. However, the net in-migration into Wisconsin was a meager 7,282.
Individuals with college or advanced degrees were more likely to leave, while those with less education tended to come. Individuals with household incomes above $75,000 left Wisconsin. Those with incomes of $200,000 or more had the highest rates of leaving.
The huge exodus of wealthy Wisconsinites leaving the state caused a loss of an estimated $4.72 billion in net worth and a loss of $455 million in income over the five years of this study. That means far fewer in-state bank deposits, less stock in Wisconsin firms, less investment capital for in-state ventures, and less money given to local charities.”
Read my entire blog.
Engaging in class warfare is divisive and won’t solve our deficit problems. Wisconsin should refrain from punishing those who have worked hard and become successful. We should not be making it easier for them to pack up their belongings and take their earnings elsewhere.
This site uses Facebook comments to make it easier for you to contribute. If you see a comment you would like to flag for spam or abuse, click the "x" in the upper right of it. By posting, you agree to our Terms of Use.