Its pension system gets a “gold star” for soundness, and it has no enduring structural shortfall in revenues. Gov. Scott Walker gave business a $500 million tax break and caused the budget deficit thereby, and then claimed that social spending had to be slashed and public unions destroyed because the state is “broke.” Cutting taxes on the rich does not create “jobs,” as the first 8 years of the 21st century conclusively demonstrated. It throws more money to the rich, who use it to buy legislators to induce more tax cuts on the super-rich, so that over the past 20 years the rich have amassed four times as much wealth as they had before, while the average wage of the average worker in real terms is virtually where it was in 1970. Cutting taxes on the rich is a way of taxing the middle class and imposing extra burdens on working families.
