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Pam
97-
3133
January 17, 1956
vf
STATEMENT BY WILLIAM PROXMIRE
The state will need at least $100, 000, 000 in the coming biennium in new
revenue. By 1965-'67 it will need at least $375, 000, 000 .
The state government is in danger of a financial catastrophe if personal
and business income should drop significantly, new revenues should therefore
come from a stable source.
The present state-local tax structure burdens the low income citizen
very heavily. In fact it reduces the income of the man with a $2500 income
by more than three times as much in proportion as the income of the $50, 000
a year taxpayer. Therefore new taxes should not increase that burden. Also
the state should assume all of the coming increase in educational costs. If
it fails to do so, increased property taxes to meet educational costs will
sharply increase the already heavy low income burden.
The present state-local tax system is very regressive all along the line.
The total local-state-federal tax system takes about the same percentage of
net income from all Wisconsin taxpayers after the cost of subsistence is subtracted. For these reasons additional taxes should not increase the state and
local tax structure's regressivity.
The revenue increase should not damage the state's present industrial-
competitive position.
RECOMMENDA TION
The committee should reject a sales tax increase because - regardless
of exemption it would sharply increase the already excessive burden of the
low income citizen. Also it is clearly regressive in its impact on other taxpayers .
■•'.
The committee should reject a Wti3% surtax because it might damage the
state's industrial-competitive position. It also accentuates the state's extremely unstable revenue system.
fS
The committee should reject the %% flat income tax increase because it
is highly regressive for taxpayers in middle and upper income brackets.
To raise the needed $100,000,000 in the coming biennium the committee
should recommend a moderately graduated increase in the income tax ranging
from an increase of 3/4ths of 1% for each of the first five thousand dollars of
income to 1% for the next five thousands to 1 1/4 percent for the next five
thousands, plus a 5% surtax(reduction from present 20%). This will raise
from $75, 000, 000 to $80, 000, 000 .
Object Description
| Title | Articles and essays by William Proxmire, 1956-1989 |
| Author/Creator | Proxmire, William |
| Description | Given here are 60 typescripts, tearsheets, and other copies of articles found in Proxmire's Senate office files (Box 146, folders 11-16, of his papers at the Wisconsin Historical Society). They were written between 1957 and 1989. Not included here are rough notes, correspondence, receipts, and miscellaneous jottings filed alongside these finished articles. |
| Language | English |
| Type | Article |
| Publisher-Electronic | Wisconsin Historical Society |
| Publication Date-Electronic | 2012 |
| Rights | Copyright 2012 by the Wisconsin Historical Society (Madison, Wisconsin) |
| Digital Format | XML |
| Digital Identifier | MSS738 |
Description
| Title | Page 1 |
| Language | English |
| Decade | 1950-1959; |
| Year | 1956 |
| Month | January |
| Subject | Taxes; Proxmire- Press Releases; Proxmire- Writings; |
| Type | Article |
| Publisher-Electronic | Wisconsin Historical Society |
| Publication Date-Electronic | 2012 |
| Rights | Copyright 2012 by the Wisconsin Historical Society (Madison, Wisconsin) |
| Digital Format | JPEG2000 |
| Digital Identifier | MSS738000a |
| Full Text | Pam 97- 3133 January 17, 1956 vf STATEMENT BY WILLIAM PROXMIRE The state will need at least $100, 000, 000 in the coming biennium in new revenue. By 1965-'67 it will need at least $375, 000, 000 . The state government is in danger of a financial catastrophe if personal and business income should drop significantly, new revenues should therefore come from a stable source. The present state-local tax structure burdens the low income citizen very heavily. In fact it reduces the income of the man with a $2500 income by more than three times as much in proportion as the income of the $50, 000 a year taxpayer. Therefore new taxes should not increase that burden. Also the state should assume all of the coming increase in educational costs. If it fails to do so, increased property taxes to meet educational costs will sharply increase the already heavy low income burden. The present state-local tax system is very regressive all along the line. The total local-state-federal tax system takes about the same percentage of net income from all Wisconsin taxpayers after the cost of subsistence is subtracted. For these reasons additional taxes should not increase the state and local tax structure's regressivity. The revenue increase should not damage the state's present industrial- competitive position. RECOMMENDA TION The committee should reject a sales tax increase because - regardless of exemption it would sharply increase the already excessive burden of the low income citizen. Also it is clearly regressive in its impact on other taxpayers . ■•'. The committee should reject a Wti3% surtax because it might damage the state's industrial-competitive position. It also accentuates the state's extremely unstable revenue system. fS The committee should reject the %% flat income tax increase because it is highly regressive for taxpayers in middle and upper income brackets. To raise the needed $100,000,000 in the coming biennium the committee should recommend a moderately graduated increase in the income tax ranging from an increase of 3/4ths of 1% for each of the first five thousand dollars of income to 1% for the next five thousands to 1 1/4 percent for the next five thousands, plus a 5% surtax(reduction from present 20%). This will raise from $75, 000, 000 to $80, 000, 000 . |