WISTAX Reports
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Wisconsin's Other Deficit Near $3 Billion
Newly released financial statements for 2010-11 show Wisconsin had a $2.99 billion (b) general fund deficit as of June 2011. Its unrestricted net assets were -$9.8b. How these figures reconcile with “balanced budget” claims are discussed.
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Spending Increases Here Exceed U.S. Average
State spending increases in Wisconsin exceeded the national averages in both 2011 and 2012, while budget reserves remain among the smallest in the nation. State spending here rose 5.8% in 2011 and was budgeted to grow 4.4% in 2012.
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State-local taxes up 5.4%, total $25.9 billion
State-local governments here collected $25.9 billion in taxes and fees in fiscal year 2011, 5.4% more than the prior year. This year's tax burden was 11.9%, up from 11.7% in 2010. Individual income tax collections were $6.7 billion in 2011, up 10% from $6.1 billion in 2010. This year's increase was the largest one-year jump since 2000.
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News Blog
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On deficits and imbalances
There has been much talk about state deficits lately, much of it misleading. What makes the discussion confusing are the many "deficit" numbers out there. Understanding those numbers can help taxpayers cut through the rhetoric and get to...
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On jobs
In the wake of Governor Walker's state of the state speech and Representative Barca's Democratic response, it's hard to know what to believe about job creation or loss. In terms of the numbers, both sides are basically right. However, they...
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Making sense of the rhetoric
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