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Charlie Sykes: Sykes Writes

Tax Cuts Are For People Who Pay Taxes

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Posted at RightWisconsin

That didn’t take long.
 
As early as Friday, the left-leaning Wisconsin Budget Project was objecting to State Rep. Dale Kooyenga’s $750 million dollar income tax cut. Analyst Jon Peacock fumed that the plan doubled the size of Gov. Walker’s cut and, unlike Walker, actually cut the top tax rate.
 
To which Peacock added this lament:
 
According to figures from the Department of Revenue, about 800,000 tax filers have no net income tax liability. As a result, they won’t benefit at all from this proposal, which is very disappointing…
 
Well, yes. If you don’t pay anything in taxes, you won’t benefit from a …. tax cut. By definition, tax cuts got to people who do have a tax liability. That’s sort of the point.
 
Individuals who pay nothing in taxes – and Peacock is talking about folks with a tax bill of $0.00 – have already had their income taxes cut as low as they will go.
 
Anything below $0 is no longer a tax cut – it’s an income transfer, which is what Peacock and the left seem to be talking

 Read the rest here.

 

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