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Lobby aims to resurrect ‘death tax’
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In light of last week’s release of a report projecting possible budget shortfalls between $300 and 400 million, a progressive lobbying group is petitioning state legislators to cover the gap by reinstating a recently lifted tax.
The One Wisconsin Now petition asks lawmakers to bring back the inheritance tax, dubbed the “death tax” by its opponents. The tax on large sums passed on in wills has been phased out since 1991 and ended completely in Wisconsin Jan.1.
Scot Ross, executive director of the group, said the three-year revenue from the tax would fill the $300 million hole projected for the budget.
“We want to make sure that people are aware that this pot of money is just sitting out there; it just started this year,” Ross said. “We want to make sure that before they start talking about cuts to new programs for the poor, the elderly, the disabled and our kids, that they look at the just-ended inheritance tax.”
The preliminary estimate — reported in a letter from the Legislative Financial Bureau last week — showed tax revenues from the end of 2007 were significantly lower than expected, falling behind the rate of inflation. Since then, speculation surrounding which agencies could take cuts has flown.
“If Wisconsin can’t afford assistance to the poor, the disabled, our seniors and our children, we can’t afford a $300 million tax cut to the richest Wisconsinites,” Ross said.
Lee Sensenbrenner, spokesperson for Democratic Gov. Jim Doyle, said the governor’s office would not speculate on possible cuts until the official numbers are released in February.
“He doesn’t want to raise taxes to address this thing,” Sensenbrenner said.
Rep. Scott Suder, R-Abbottsford, is a member of the Legislature’s Joint Committee on Finance and said raising taxes is “always the easy way out,” and legislators would have to look inward at efficiency in state agencies before considering tax increases.
“To, out of the gate, simply say, ‘We’re going to reinstate the death tax … is not only premature but frankly a little nutty,” Suder said.
Once the official figure for the shortfall is announced, a bipartisan solution will need to bridge the gap, and legislators are already examining their options, according to Suder.
“We’re going to take a look at the rainy day fund; we’re going to look at every state agency,” Suder said. “The last option for many of us in the Assembly is going to be raising taxes.”
The University of Wisconsin System — receiving much of its funding from the state budget — could face cuts. UW System spokesperson David Giroux said it is too early to speculate about that issue.
Suder said he does not think UW is especially in danger.
“The brunt of this is not going to fall on UW,” Suder said. “While I can’t say they’re not going to be part of the solution, they’re certainly not going to be any kind of a target for this budget problem.”
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This gives just another reason for senior citizens to flee Wisconsin and go to the Sunbelt for their golden years.
“asks lawmakers to bring back the inheritance tax”
Absoulutely!
Every effort must be made to drive anyone with assets out of Wisconsin. Combine this with other tax increases and it will ensure that there are no such a thing as “richest Wisconsinites”.
Of course income tax and sales tax receipts may also fall as a result but the important thing is to “stick it to the man”.
Wisconsin will tend toward only having not-rich and poor citizens, but once the not-rich are stuck paying all the bills there will eventually only be poor citizens.
That’ll show the “man” who’s boss!
If there is one thing that the Republicans are far better at than Democrats, it’s naming bills. Seriously, the “Death Tax”, the “Patriot Act”, the “Defense of Marriage Act”, “No Child Left Behind”. They seem to excel at either fiction or irony :)
Well, someone did in fact have to die before any tax was due.
Seldom mentioned is that if “No Child Left Behind” the “No Child Gets Ahead” either.
It is somewhat like taxing the “rich” for succeding, in that preventing any child from getting ahead will eventually destroy the capacity to excell in anything.
“Wisconsin will tend toward only having not-rich and poor citizens, but once the not-rich are stuck paying all the bills there will eventually only be poor citizens.”
I agree wholeheartedly. In fact, I think to attract more rich individuals and companies, we should lower the tax rate on the highest brackets and reduce services to the other 95% of the population.
Also, in order to ensure that those wealthy individuals keep more of their money and generate more investment, we should lower the workplace safety regulations and environmental regulations, cut public education and health services.
Some courageous institutions are doing a decent job of this so far. For example, the FDA is raising the acceptable amount of pollutants in the environment and lowering standards for foods to be labelled as healthy.
We need to start rolling back some of this “progress” that crazy liberals have made in the past century. Besides, everyone knows that if you’re poor, you’re probably not competent or intelligent. Left to your own devices you probably wouldn’t be able to get by. We really need a stronger ruling class.