What I don't think people are considering about the property tax cut and the growing budget surplus is where the money is really coming from. It's obvious that the economy is not producing the excesses in this anemic jobless recovery. We haven't had any significant tax increase to boost revenues or any windfalls, so where is it coming from?
I think, the answer can be found in the government program cuts. There three, four or more sources that would account for the surplus. First and foremost, it is the cuts that were made to education funding. If I remember correctly, that was something like $839 million, $300 million in pay cuts to public workers, benefit cuts to the monthly allotment to those on W 2, and finally cutting off 92,000 off of Badger Care and Badger Care Plus. So what we really have is a revenue redistribution program taking it from those that can least afford it and redistribute it to those who need it the least. For example, this years average property tax cut is less than $20 for a family of four. The benefit cut to a family on W 2 is $20 per month equaling $240 per year or paying for twelve average tax cuts. The $20 per month may not seem like a lot to most people, but it means a great deal more to someone who is already on the financial edge.
The tax cut is being done now to boost the chances for the governor to win reelection and the Republicans to hold onto their majority in the assemble and senate. It is clearly a means of paying for votes by redistributing revenue from one section of society and giving it to others. I would hate to think that people's votes could be bought for so little and taken directly from others to do so.
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Wouldn't the surplus be of greater benefit if it was actually applied to the long term structural deficit? If running deficits and debt is so bad, as per Republicans, then if they have the opportunity to retire part of the debt, why don't they? Clearly this has nothing to do with fiscal responsibility, but everything about getting reelected and the continued exercise of political power.
