Governor Walker claims that he balanced the budget and is moving the state forward. What he really did was to restructure or refinance the debt, which is just like re-financing your home mortgage.
While we working and retired taxpayers will have to pay for this increased principal and interest for the next 20 years when we pay our state taxes. Governor Walker took the refinancing cash to give tax cuts to wealthy corporations. This is costing the state $360 million dollars in reduced revenue over the next four years and some $130 million each year thereafter, according to the non-partisan Legislative Fiscal Bureau.
This non-partisan fiscal bureau has estimated the variety of tax cuts directed toward the upper income and big corporations will cost the state $2.3 billion in revenue over the next 10 years. A spokesperson for a watchdog group said, “You’ve got a guy working at the factory making $35,000, paying his share of taxes. Meanwhile the guy who owns the factory won’t pay any state tax, and he can also shelter the income of his wife.” The Walker Administration would not comment to the Wisconsin Democracy Campaign on how Wisconsin will make up the difference.
Governor Walker has flown around the country collecting $25.3 million dollars with nearly 60 percent coming from out-of-state contributions. With this money his campaign is purchasing ads that repeat over and over that he has put Wisconsin’s fiscal house in order and is moving Wisconsin forward. But what he is really doing is moving us backward and is putting us into deeper debt.
It is time for the citizens of Wisconsin to realize that Governor Walker has not only divided our state by trying to do away with the public employee unions that did not support him initially when he ran for governor but also has used tax breaks to pay back his biggest supporters at the expense of our pocketbooks. Vote for Tom Barrett and Mahlon Mitchell on Tuesday, June 5.
Paul Braunstein, Minocqua