January 30, 2008

Ending Las Vegas Loophole Will Make Sure $90 Million That Happens in Wisconsin, Stays in Wisconsin

Rolling out their economic stimulus package for the state, Senate Democrats are calling for an end to the ridiculous “Las Vegas Loophole.” Under the loophole corporations dodge $90 million owed to Wisconsin taxpayers by setting up a skeleton subsidy in a place like Nevada, which doesn’t collect corporate incomes taxes.

Remember, as long as they duck their $90 million, we have to pick up the tab. The idea that a corporation can benefit from the infrastructure and shared services in which we all pay and then avoid taxes we have to pay by getting a post office box in another state is hard to defend.

Rolling out their economic stimulus package for the state, Senate Democrats are calling for an end to the ridiculous “Las Vegas Loophole.” Under the loophole corporations dodge $90 million owed to Wisconsin taxpayers by setting up a skeleton subsidy in a place like Nevada, which doesn’t collect corporate incomes taxes.

Remember, as long as they duck their $90 million, we have to pick up the tab. The idea that a corporation can benefit from the infrastructure and shared services in which we all pay and then avoid taxes we have to pay by getting a post office box in another state is hard to defend.

Cue Scott Fitzgerald, the articulate Senate Minority Leader, who quickly bemoaned any attempts at simple corporate accountability. In denouncing government spending, he did not offer to withdraw the state from its current obligation to pay the health care for him and his family at cost to him of just two bucks a day. This despite his longstanding objection to Healthy Wisconsin, which would give you the same benefits he has.

And let’s not forget, the big $300 million taxpayers will lose due to the end of the estate tax in Wisconsin. If you haven’t taken the time to sign the OWN petition calling on the state legislature to plug the budget hole with that tax loophole, click here to act today.

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