How does Wisconsin Compare?
Here are some tax comparisons of these neighboring states:
Minnesota
North Dakota
South Dakota
Iowa
Illinois
Michigan
Wisconsin
There are probably dozens of conclusions that can be extrapolated out of the data, but here are my observations. These are the comparisons to the surrounding states and national rankings.
Per capita income for Wisconsin is almost right in the middle of the pack. The tax freedom day is April 13th, 11 nationally, but with Minnesota and Illinois, much much later than the Dakota's and Iowa. The Business Climate is in the worse 20%. So is Minnesota. State and Local Tax Burden Per Capita for Wisconsin is 10th nationally. Total tax (Fed and State) divided by Per Capita Income is a whopping 28.04% State and Local Tax Burdens As a Percentage of State Income gives Wisconsin a 6th Ranking Nationally. This rating is disproportionally different than the surrounding states.
The data I compiled was from the Tax Foundation and is in PDF format. The report is called 'Facts and Figures: Does your state compare?' This pocket-sized handbook compares the 50 states on 41 different measures of taxing and spending, including individual and corporate tax rates, business tax climates, excise taxes, tax burdens and state spending. The spreadsheet I put together for the regional comparison is here. (TaxCompare.xls).
These are the hard facts based on numbers. There will be a thousand different reasons as to why these numbers are the way they are. Bottom line, life in the Dakota's is not like living in Wisconsin and anything you can do here you can do there. The tax situation in S.D. makes it a great place to do business and even a small enterprise can gain tremendous tax advantages there. I think a move like adopting TABOR would really help Wisconsin gain a much better business climate and increase income and tax collections to help pay for the state. I also think education funding needs a radical overhaul. The monopoly is the one highest expenditure the Wisconsin residents have to deal with. Get it under control and you have the state budget under control. I would welcome further analysis of why and what we need to do.
xposted @ OntheBorderLine
Minnesota
North Dakota
South Dakota
Iowa
Illinois
Michigan
Wisconsin
There are probably dozens of conclusions that can be extrapolated out of the data, but here are my observations. These are the comparisons to the surrounding states and national rankings.
Per capita income for Wisconsin is almost right in the middle of the pack. The tax freedom day is April 13th, 11 nationally, but with Minnesota and Illinois, much much later than the Dakota's and Iowa. The Business Climate is in the worse 20%. So is Minnesota. State and Local Tax Burden Per Capita for Wisconsin is 10th nationally. Total tax (Fed and State) divided by Per Capita Income is a whopping 28.04% State and Local Tax Burdens As a Percentage of State Income gives Wisconsin a 6th Ranking Nationally. This rating is disproportionally different than the surrounding states.
The data I compiled was from the Tax Foundation and is in PDF format. The report is called 'Facts and Figures: Does your state compare?' This pocket-sized handbook compares the 50 states on 41 different measures of taxing and spending, including individual and corporate tax rates, business tax climates, excise taxes, tax burdens and state spending. The spreadsheet I put together for the regional comparison is here. (TaxCompare.xls).
These are the hard facts based on numbers. There will be a thousand different reasons as to why these numbers are the way they are. Bottom line, life in the Dakota's is not like living in Wisconsin and anything you can do here you can do there. The tax situation in S.D. makes it a great place to do business and even a small enterprise can gain tremendous tax advantages there. I think a move like adopting TABOR would really help Wisconsin gain a much better business climate and increase income and tax collections to help pay for the state. I also think education funding needs a radical overhaul. The monopoly is the one highest expenditure the Wisconsin residents have to deal with. Get it under control and you have the state budget under control. I would welcome further analysis of why and what we need to do.
xposted @ OntheBorderLine
posted by Anonymous @ 7:27 PM
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