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Thursday, March 08, 2012

Taxes Seem High? Blame The New Entitlement Mentality Sweeping The Country

If regular working class people really want to know why taxes and fees are taking a bigger bite out of our paychecks and are expected to get worse - don't blame education, public employees, government services or tax rates. Look toward the multitude of loopholes, exemptions, zone tax credits, "jobs" tax credits, taxpayer funded forgivable loans and tax revenue withholding caches like TIF District slush fund gimmicks, all lobbied for and legislated by crony capitalists to favor the rich and powerful few. It's a matter of simple subtraction.

You think when GOPer's like Rick Santorum, Mitt Romney or Paul Ryan say that rich people don't have to pay taxes, they are joking? Hah, think again. Somebody will have to make up for the difference in lost revenue.

Despite an already increasing tax burden in Wisconsin under Scott Walker, we have yet to see the real effects of the tax shift take place under his massive wealth redistribution plan. But don't worry. The motherlode is on the way.

The Northwestern Excerpt:
(Titled: Walker's tax credits give away the farm)

In fact, under Walker's tax credit, after 2015 a farm or factory owning couple could earn up to about $625,000 a year before owing a single dime in state taxes. And they could earn about $796,000 before they owe that same $1,425 that you have to pay on your measly $50,000 – because with the tax credit, they'll owe only an additional $5 on each extra $600 in agricultural or manufacturing income they earn. more>>>

When you throw in all the other special tax credits, exemptions and artificially low property tax assessments for developers on the state side alone, we will be getting hammered!

The tax hell is only for the little people.

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