H/T Asian Badger
This is flat out embarrassing.
Wisconsin taxes are so bad, that retirees don't have to run very far in order to avoid our outrageous taxes. Just go to Michigan and they will be fine.
Forbes magazine writes:
When John Jazdcyk retired in 2004 from his management job at a Green Bay, Wis. Procter & Gamble plant, he and his wife, Susan, debated whether to move full-time to their vacation home on Lake Mullet in Cheboygan, Mich. Then they learned that Michigan exempts $81,840 a year in private retirement income per couple, in addition to Social Security, from its 3.9% state income tax. Wisconsin, by contrast, taxes private retirement payments, as it does salary and other income, at 5.6%. "Whenever taxes can be avoided, I feel better," says new Michigan resident Jazdcyk, 59.
Continued... (signing up for Forbes is free, you will need a log-in)
Let's start with the fact that income taxes in Michigan are 3.9% and in Wisconsin they are 5.6%. That alone is an embarrassment.
Then, you pile on the fact that we cannot cut any tax breaks for our most valued residents, senior citizens.
That is pathetic, folks!
When faced with exorbitant tax rate in Wisconsin, what do our state democrats do?
Well, pile on more taxes, of course! To the tune of $1.7 billion from Governor Doyle and $18+ billion from the Senate democrats!