Associated Press: Walker’s income tax cut helps rich more

MADISON, Wis. –

Gov. Scott Walker’s proposed income tax cut would give more money back to the rich than it would the poor, despite his billing it as targeting the middle class.
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The Wisconsin State Journal reported that the tax cut would save a family of four earning less than $21,000 just $2 a year. Those making $80,000 would save $106 a year while those earning $374,000 or more a year would save $285 annually.

That’s according to an analysis by the Institute on Taxation and Economic Policy done for the Wisconsin Budget Project.

University of Wisconsin-Madison economics professor Andrew Reschovsky said there is no evidence Walker’s proposed income tax cut will do much to encourage job growth and job creation.

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