Gov. Scott Walker and GOP lawmakers passed a more than $500 million tax cut bill in March and the effects of those tax changes are already starting to hold down how much income tax is being withheld from workers' paychecks.Without doubt, Walker's campaign tax stunt has a lot to do with the projected deficit, but ironically, it is Walker who brushes up to the truth in his defense:
Joe Zepecki, spokesman for Walker's Democratic opponent, Mary Burke, said that the latest numbers showed that Walker should have left the state with more of a financial cushion. He said the figures were being released before Memorial Day to avoid drawing attention to them.
"Mary Burke was right, Walker's election year spending spree based on rosy assumptions was irresponsible," Zepecki said.
Walker said he's watching the numbers but not concerned. He said the tax cuts could help to stimulate the economy.I saw my tax cut at the beginning of the month. It accounted for a whopping six dollars a week.
"Individual taxpayers as consumers will use more of that to make purchases to help fuel the economy," he said.
That is a pale comparison to the hundreds of dollars taken out of each check.
As I have explained repeatedly before, when Walker passed his Act 10 bomb, he took billions of dollars out of the economy. This had the predictable ripple effect as public sector workers cut way back to adjust for the draconian cuts to their pay. This in turn forced private businesses to suffer and lay off thousands of workers. And those that were lucky enough to keep their jobs or find one of the few handful of jobs that were created saw their pay cut from where it used to be.
And the downward spiral continues.
And try as they might, Walker and company cannot tax what we do not have.
Sadly, with Walker and Burke being the apparent two major candidates and both of them embracing austerity, claiming that public sector workers needed to pay more for their benefits, for which they were already paying more than the private sector, I don't see things getting better anytime soon.
I also see whoever gets elected to use this self-inflicted deficit as an excuse to cut even more services and cut workers' pay even deeper.
Because it's been working so well so far.