Latest newslwtter from :IWF April Tax Newsletter‏

The Institute for Wisconsin's Future newsletter on tax policy

--------------------------------------------------------------------------------

Wisconsin citizens want strong communities, reasonable taxes and a revenue system in which all individuals, businesses and organizations pay a fair share. This monthly email newsletter covers current research, community organizing and political activity to support a fair tax system which adequately funds services for the common good.
April 15: Wisconsinites pay their state income tax.. and the corporations' too


You paid your state income tax. Wouldn't it be nice if corporate Wisconsin did too? Chances are you paid more than Microsoft, McDonald's, Pepsi, Sears, Budget Rent-Car, Kimberly Clark, Boston Market, Frito-Lay, K mart, Victoria's Secret and Stockely-Van Camp. In fact, you paid more than all of them put together. For the last year of information available (2005), they paid zero (0) income tax. Big corporations avoid over $500 million in state income tax every year. They skip taxes by using loopholes that allow them to move their profits to non-tax states. That means our families and small businesses cover the cost of the roads, police, fire protection and other services these mega-corporations rely on. Do you think it's about time to close the loopholes or should we just keep paying their public service bills?
See Revenue Gap: An analysis of corporate tax avoidance at http://www.wisconsinsfuture.org
Combined reporting adopted in more states

map from Center on Budget and Policy Priorities

" Finding legal ways to collect taxes already on the books is not a tax increase. This year, with revenues falling far short of covering basic priorities, the Legislature should take a serious look at a few revenue-generating reforms."

We couldn't say it better ourselves, but that quote is from The Tampa Tribune. In an editorial on April 11th, 2008, the Tribune makes an eloquent case for combined reporting as an essential step for protecting public services and infrastructure. Combined reporting is a tax reform which closes the loophole that allows multi-state and multi-national corporations to shift profits from a state with corporate income tax to a tax-free state.

Said the Tribune, "Tough choices go beyond what to cut. Let's also look at making everyone pay what's already owed. For example, Florida allows multi-state businesses to shelter Florida income in other states. This makes the effective income-tax rate on small Florida businesses higher than the rate paid by corporations sheltering income elsewhere." The point works as well for Wisconsin as for Florida. The entire editorial is online at http://www2.tbo.com/content/2008/apr/11/na-tax-phobia-in-tallahassee-protects-huge-unfair-/.

www.cbpp.org/4-5-07sfp.jpg

Wisconsin Senate backs combined reporting

Speaking of combined reporting, the Wisconsin Senate included that important tax reform in its budget-repair proposal. The Legislative Fiscal Bureau estimated that would yield about $90 million annually in additional revenue, but that’s an old estimate that is almost certainly much too low. Political observers agree that combined reporting, regardless of its merits, has little chance of making it into the final budget repair deal that must be agreed upon by the Senate, Assembly and Governor. But the momentum combined reporting has won this legislative session bodes well for its chances in the 2009 Legislature.

For a comparative summary of the Governor’s, Assembly’s and Senate’s approach to repairing the budget to adjust for the effects of the recession, see the Legislative Fiscal Bureau’s summary. http://www.legis.state.wi.us/lfb/2007-09Bills/2008_03_26_WI%20Leg_Comparative%20of%20Proposals.pdf

Wisconsin's corporate income tax system is antiquated and needs to be reformed

This was Michael Mazerov's statement to a state Senate committee hearing. "Aggressive tax avoidance by large, sophisticated multistate companies is a serious and growing problem," said Mazerov, who is a senior fellow at the Center on Budget and Policy Priorities, a liberal think tank in Washington. "Unfortunately, Wisconsin remains something of a laggard among the states in addressing it." Mazerov spoke to the Committee on Tax Fairness and Family Prosperity, headed by State Senator Bob Jauch, which is considering a number of bills to change the way Wisconsin collects the corporate income tax. http://www.jsonline.com/story/index.aspx?id=713147

DAY ZERO AND BORDERTOWN TWO MOVIES FOR SOCIALLY CONSCIOUS AND PROGRESSIVE SHOULD VIEW

I do claim any movie crtic like Roger Ebert but I do highly recommend two movies that you can get at Family Video or any video store. The two movies are "BORDERTOWN" and "DAY ZERO".

BORDERTOWN is a movie made by and starring Jennifer Lopez/ It a story coming from true life experiences. It revolves around young Mexican women being found missing and dead near towns near the US/?Mexican border. These towns and factories sprung after NAFTA was signed into law. Jennifer Lopez's character is a newspaper reporter sent down to investigate the missing women some of whom were when found where dead. These young females worked in BORDERTOWN factories making little money, having to take a bus to and from work. Jennifer Lopez finds a women who literally crawls up after being raped and left to die by her attackers she get this woman to go to the police. The reporter turns in a great expose on the terrible conditions. But her editor played Martin Sheen is forced to bury the article and the reporter is given a new job by the corporate run newspaper. It is great story on how NAFTA has wronged those it suppose to help the most.
here is a link : http://en.wikipedia.org/wiki/Bordertown_(2007_film)

The second film is "Day Zero ". Its is a movie starring Chris Kelin and Elijah Wood which depending on who gets in the White House could more truth than fiction. The plot is due to increased military activity in the Middle East namely Iran the United States government is forced to reinstate the military draft. This time the age is lifted to age 35. The story starts with three friends, how they are all friends is not truly revealed, who get a draft notice and report in 30 days. The movie follows three as a group and individuals on how they cope with their notice and how the spend the next 30 days till they have to report.

a link to the movie is : http://www.dayzerothemovie.com

ORGANIZATIONAL MEETING TUESDAY-FOR CITY COUNCIL/COUNTY BOARD

On Tuesday April 15 not only is it the deadline to file your taxes. Both the Oshkosh City Council and Winnebago County Board will be have the Organizational Meeting of the respective governing bodies.

At the County Board a Chairman and Vice-Chair will be elected and there will be an election for both positions. At the City Council meeting a believe a Vice-Mayor will be elected by the council.

But what I wanted to bring to everyones attention is that both bodies will be considering changes to rules and how it operates for the next 1-2 years. I see for the city council councilman Palmeri is considering proposing a budget Committee or the city council. For the County Board I will bringing forth three changes to how the County Board operates for the next two years. One having each county board supervisors assigned to county board committee, changing how the county board considers amendments to and voting on the final budget for the next year, and having 2 county board meeting a month one informational and business except for the moth the budget is considered.

If you have suggestions to add or comments to these I encourage you to attend the meetings on Tuesday. The County Board starts at 6 PM at the 4th Floor County Board meeting room the Oshkosh City Council I believe meets at noon on Tuesday.

If you cannot attend I encourage you to contact your city council person and county board supervisor and let he/she know your views.