When Robin Vos Cries Against Taxing Rich People
| By Scot @ One Wisconsin Now - May 22nd, 2009 at 11:10 am EDT |
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Categories: State Budget Priorities, Tax Fairness, One Wisconsin Now - The "tOWN Hall", Budget Issues
Categories: State Budget Priorities, Tax Fairness, One Wisconsin Now - The "tOWN Hall", Budget Issues
Lead GOP budget talker Rep. Robin Vos is likely to put his "Protect Rich People" crying towel into overdrive in the coming hours.
In the interest of fairness, here are a couple of things to remember when Vos claims that by opposing the tax boost for the top one percent and closing a portion of the capital gains wealth loophole, he's lookin' out for you -- "the folks" as sexual harasser O'Reilly would say before being limo'ed home.
Fixes likely to pass the budget writing committee in order to close the $6.6 billion budget deficit caused by Vos's fellow Republicans who ran the Bush administration and ran America into the ground, include:
-- A tax increase for those in the top one percent of income earners. Meaning if you as an individual earn less than $225,000 or you and your spouse make less than $300,000 -- your income taxes will not be increased.
-- An adjustment on capital gains wealth to put the state in line with the rest of the nation. Currently, Wisconsin is one of a handful of states not to treat capital gains as income -- and our 60 percent exemption for capital gains is the largest in the nation.
And to be clear: the top one percent of income earners get 64 of the benefit of the current capital gains loophole and 83 percent of the benefit goes to those in the top five percent of income earners -- meaning people earning more than $152,000 a year.
The massive redistribution of wealth under the Bush administration (along with the endless war in Iraq and selling off of our government to private corporations) is directly responsible for the economic collapse.
This change in federal tax policy directly affects Wisconsin's revenue collections. If those at the absolute top of the income ladder have a lower federal tax burden through massive giveaways by Bush and his cronies, this reduces their obligation to the people of Wisconsin.
But if you think the rich didn't do well enough under Bush, then I encourage you to applaud the spirited Vos Defense of the wealthy.
In the interest of fairness, here are a couple of things to remember when Vos claims that by opposing the tax boost for the top one percent and closing a portion of the capital gains wealth loophole, he's lookin' out for you -- "the folks" as sexual harasser O'Reilly would say before being limo'ed home.
Fixes likely to pass the budget writing committee in order to close the $6.6 billion budget deficit caused by Vos's fellow Republicans who ran the Bush administration and ran America into the ground, include:
-- A tax increase for those in the top one percent of income earners. Meaning if you as an individual earn less than $225,000 or you and your spouse make less than $300,000 -- your income taxes will not be increased.
-- An adjustment on capital gains wealth to put the state in line with the rest of the nation. Currently, Wisconsin is one of a handful of states not to treat capital gains as income -- and our 60 percent exemption for capital gains is the largest in the nation.
And to be clear: the top one percent of income earners get 64 of the benefit of the current capital gains loophole and 83 percent of the benefit goes to those in the top five percent of income earners -- meaning people earning more than $152,000 a year.
The massive redistribution of wealth under the Bush administration (along with the endless war in Iraq and selling off of our government to private corporations) is directly responsible for the economic collapse.
This change in federal tax policy directly affects Wisconsin's revenue collections. If those at the absolute top of the income ladder have a lower federal tax burden through massive giveaways by Bush and his cronies, this reduces their obligation to the people of Wisconsin.
But if you think the rich didn't do well enough under Bush, then I encourage you to applaud the spirited Vos Defense of the wealthy.
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As for your assertion that Bush is responsible for the the economic situartion via Iraq, let's see some fact to back that kind of crap up. On the other hand, I can point to 3 Trillion Dollars and counting spent by Obama which makes Bush's debt inconsequntial by comparison. Obama, Doyle and liberal Democrats in Madison are spending this state and nation into oblivion. And never with the talk of cutting spending. Never. Instead, they continue promoting class warfare, pitting one group of Americans against the other in order to sell their tax schemes which will impact the poor and middle class the most.
Doyle and his cronies are doing everything possible to kill jobs in this state while continuing to increase taxes on the dwindling tax base to fund higher and higher spending. People will continue to vote with their feet as they have been doing for years now in Milwaukee, and leave this tax hell known as Wisconsin.
Robin Vos, my state rep is absolutely right when he points out that taxes have been raised on the middle class of Wisconsin. And John Lehman, my state senator, is one of the biggest offenders -- someone who never met a new spending bill he didn't like and a new tax scheme he didn't embrace. And I am going to do everything I can to see to it that this guy gets the boot next election cycle. He's going to see my face everywhere he goes to campaign. We're going to clean house, inculding dumping Diamond Jim Doyle as well!!! I only hope and pray that we can save Wisconsin from total implosion after Republicans take the state back.