Thursday, October 09, 2008

What We Need Here Is More Taxes and Regulations!!

Yes, right here, in Wisconsin.

Although attention is understandably focused on Washington and the paralyzed credit markets, the latest report from the Wisconsin Taxpayers Alliance (WISTAX), drawing both on state forecasts and federal figures, finds that Wisconsin’s economy has been lagging the nation for some time.

...A simple indicator of state economic performance is personal income, which includes wages, government payments, and investment earnings. In 2006, total state income rose 5.4% to $191.7 billion, while national growth was 7.1%. Reflecting the economic slowdown, 2008 personal income is estimated to increase 3.4% in Wisconsin vs. 4.3% nationally.

A recent state Department of Revenue forecast predicts state income to grow slower than the U.S. in 2009 (2.6% vs. 3.3%) and in 2010 (4.4% vs. 4.9%) when the delayed recovery is now expected to begin in earnest.

Due to Wisconsin’s lagging income growth, 2006 state per capita personal income trailed the nation by 6.2%, the largest amount in almost 20 years. In 2007, it was 6.0% below the U.S. average.

The Doyle solution will include primary enforcement of seatbelt 'violations.' Not to mention higher utility costs. And I'm sure that he'll raise fees, if not taxes (as though there's a difference...)

After all, the best way to raise incomes is to squash the living daylights out of citizens.

1 comment:

grumps said...

A lower growth rate on a higher base is still greater growth. Simply comparing rates of growth without context is dishonest.