Woopsie.
The January estimates of State revenues were....ahhh....optimistic!.....concerning individual and sales-tax revenues for FY 2010.
How optimistic?
Try $136 million. State residents earned less and spent less than projected. What a surprise!
Fortunately, the State soaked corporations (through the unitary tax) for an extra $134 million. (/sarcasm)
That $134 million will not go to shareholders as dividends; it will not go to R&D for new products; it will not land in employee's pockets as raises; it will not offset increased health-insurance costs; it will not buy machinery and equipment.
But it will provide State employees with jobs.
The '09/'10 numbers tel the same story.
Individual income tax revenue dropped $130 million from '09 to '10.
Sales tax revenue dropped $140 million, same period.
Not a good year.
It seems as if to me that getting the F outta WI was a pretty damned good move....
ReplyDeleteAnd we all thank you for it!!!
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