Top wage earners would benefit most from proposed Walker tax cut

This should surprise absolutely no one.

The top 20% of Wisconsin wage earners — those making more than $88,000 a year and paying the most in taxes now — would receive 44% of the benefit of Gov. Scott Walker’s latest proposed tax cuts, a new analysis shows.

The bottom 20% of state residents by income — those making below $21,000 a year and paying the least in taxes now — would receive 5% of the $504.6 million Walker wants to cut in property and income taxes, according to the review by the liberal Institute for Taxation and Economic Policy and the Wisconsin Budget Project.

As I noted above, the fact that the top wage earners in Wisconsin would serve to benefit most from Gov. Walker’s proposed tax cut should not surprise anyone, given Gov. Walker’s belief in the failed and debunked “trickle down” theory of economics.

Given the failure of the tax cut implemented in Gov. Walker’s previous state budget, I’m betting this tax cut will be equally as ineffective at stimulating Wisconsin’s lagging economy.