Governor Doyle of Wisconsin is proposing cutting out “lucrative” tax credits for movie makers! He is the same man who stole millions from a private doctors’ fund that was designed to help pay the victims of malpractice cases if the penalties were above the insurance company’s limits. Now, Doyle wants to tax those earning more than $300,000 at a steeper rate than those who earn less. Of course, most small businesses fall into this category and will suffer.
And, not only do small businesses need a tax break to be profitable, but so do movie makers. ALL industry — Hollywood or local– provides jobs because even movie stars and producers need a place to eat and sleep. That means the hotels and motels prosper, as do the restaurants in the area. And, usually, like the rest of us, Hollywood stars need transportation, so they drive cars which helps the gas stations. So, let’s not tax them more. Let’s encourage them coming here by making it financially possible through lower taxes!
The doctors’ fund was a unique fund, set aside ONLY by doctors, as a means of helping actually pay for those exorbitant penalties that are sometimes awarded. The state government had no part in the planning or funding of this project, yet Doyle felt comfortable in stealing the money set aside for victims.
Lastly, by taxing those earning more than $300,000, Governor Doyle will be taxing many small businesses. Small business is the backbone of any economy and provides a huge number of jobs. Unfortunately, all our governor is interested in is paying the massive bills that he ran up with his irresponsible spending.
The fallacy in all of Doyle’s proposals is that he assumes that taxing some more than others will lead to greater prosperity for Wisconsin. That has been tried over and over again in the past and has always proved to be absolutely false! As an example, a while back, the state decided to increase tax income by taxing yachts. After all, the assumption was that those wealthy enough to afford a yach could afford to pay more taxes on that yacht! Of course the price of yachts went up. And, just as quickly, the “wealthy” decided they could put off buying a new yacht. In fact, so many of the “wealthy” decided to forego buying a new yacht that business slumped. Without buyers, boat builders built less boats. Less boats meant less help was needed, so Carver Boat Builders in Pulaski laid off workers. So, the net result of raising taxes on the “wealthy” was that workers lost their jobs. Huh!
But, Democrats like Doyle never seem to learn this economic lesson. If businesses have to pay more taxes, they will shrink in size and in their workforce which means more unemployed Americans. Democrats always assume that they can tax someone, somewhere, to pay for irresponsible spending by the state and federal government. Such taxation has never increased the state coffers in the past and, with the country already in a recession, will just cause more trouble for us ordinary citizens. Higher taxes on the “wealthy” makes a good campaign slogan, but is not a workable economic solution. Robbing Peter to pay Paul is penny wise and pound foolish!