Tax cuts work every time they are tried.
Consider Exhibit C of this fundamentally fiscal truth–Wisconsin Governor, Scott Walker.
On January 3, 2011, when Governor Walker was sworn in as the 45th Governor of the State of Wisconsin, he inherited an unsustainable $3.6 billion dollar Wisconsin State Deficit.
After (literally) sweeping the vermin off the State House steps and hallways last summer and enacting fiscally conservative policies such as tax cuts, eliminating collective bargaining (whose Cadillac pensions and gold-plated health coverage got them into that hole in the first place), making public employees contribute a small portion to their own futures and making Wisconsin a low tax–low regulation business friendly state, Governor Walker turned that $3.6 billion deficit into a $300 million dollar surplus–virtually overnight!
How could that be?
Because Tax Cuts work every single time they are tried.
Let’s compare and contrast Gov. Walker’s speedy and measured achievements with those of neighboring Illinois Governor, Pat Quinn.
Instead of cutting taxes, Governor Quinn–ready for this–raised Illinois State Tax by 66%!
Did you hear that?
He didn’t raise the State Tax to 66%, he raised it by 66%!
And how has that worked out for the good people of Illinois, you ask?
Well, his reckless tax and spend binges have resulted in:
1. A total state deficit of $15 billion dollars
2. $6.8 billion dollars sucked out of the private sector to the already bloated and clinically obese public sector.
3. Illinois Ranked 48th in the nation for job creation.
So while business’ and families are fleeing Illinois at rocket speed to avoid Governor Quinn’s recipe for economic recovery, the same are licking their chops to open up shop next door in Wisconsin.
Thanks to Governor Scott Walker’s tax cuts, Wisconsin is open for Business!