APPLETON POST-CRESCENT: WMC supports corporate welfare

October 21, 2013
Michael Muoio

Tom Still of the Wisconsin Technology Council, who wrote a recent guest column, should share why he’s endlessly apologizing for Gov. Scott Walker’s underperformance in creating the 250,000 jobs he campaigned on.

The recent admonishment of Walker and Wisconsin Manufacturers & Commerce by the Federal Reserve on misrepresentation of Federal Reserve statistics is telling.

Walker had been using the Federal Reserve statistics to claim Wisconsin’s economic growth as No. 2 in the nation. His cronies at WMC produced a TV commercial, “thanking” Walker for putting the state on a “path to prosperity.” All lies according to the Federal Reserve Bank of the United States and senior economic analyst Paul Flora. The ad continues to run.

Here are reasons Wisconsin is ranked 34th of 50 states:

• Walker’s budget continues to subsidize and transfer $1.5 billion to existing corporations, dwarfing new-business support funding. These same corporations only pay $900 million in state income tax. We would be $600 million better off by eliminating corporate state tax and all corporate subsidies.

• Walker killed high-speed rail that would have brought $1.2 billion in federal money to Wisconsin.

• Walker, the chairman of the Wisconsin Economic Development Corp., has created a “mega-mess” and CPAs are keeping a leash on the WEDC.

• His University of Wisconsin Regents made record highs of overcharging students almost $1 billion in tuition and proceeded to give much of it to taxpayers in the form of tax relief, leaving students with $1 billion extra in debt.

Why would any existing or newly formed corporation move to a tumultuous state to endure corporate state tax to subsidize the existing corporate structure already on Wisconsin public welfare?

Michael Muoio,

Appleton

More Info: 

For more info on the Wisconsin Wave's Shut the Chamber campaign to take back our government from big money, visit http://wisconsinwave.org/shut-chamber-wisconsin