Report: Wisconsin Gov. Scott Walker considering eliminating state income tax
Earlier this year, Louisiana Governor Bobby Jindal generated buzz with his tweets about doing away with the state’s personal and corporate income taxes. Now, his Wisconsin counterpart is reportedly making similar considerations:
“There are many states that do very well, better than most states in the country, that have no income taxes,” Walker told reporters during a stop at his Northern Economic Development Summit. “That’s one thing for us to look at. Is that feasible? What would that mean in terms of an economic boost? That’s not only for individuals, but small businesses in this state.”
Lt. Gov. Rebecca Kleefisch and Revenue Secretary Rick Chandler last week had the first of their roundtable discussions on taxes. Chandler said Monday those discussions are to get input from the public on what they’re interested in as well as what’s best for job creation. He said that could be changes to the income tax code or property taxes.
“We want to look at areas where we may not stack up well against other states, where particular aspects of our tax code may be out of line with other states,” Chandler said. “We want to get the overall burden down, and we want to make all elements of the tax code as competitive as possible.”
Not everyone’s happy, though:
And really, who can blame them? After all, if Wisconsin gets rid of its income tax, it could spell trouble for nearby states: