Wisconsin’s Economy Today – Lower Tax Burden
Discussing Wisconsin’s economy with Wisconsin Department of Revenue Chief Economist John Koskinen. New data says Wisconsin’s state and local tax burden has dropped below the US average.
It is no longer true that Wisconsin is a high tax state. The most recent data from the Bureau of Senses on state and local tax burden is measured against personal income. Wisconsin has now dropped below the US average. We are no longer not only not in the top 10 we are not even in the top 20 anymore. We have had substantial reductions of all three major taxes. That is a sea change difference from even 10 or 15 years ago. That perception will need to be changing radically and the best part of it is that we have a situation in place that while other states are going to have to take on costs we do not have to take on certain legacy costs. They will, they’re not going to be able to keep making the progress and improving services or tax burdens like we can.