New Tax Proposal Overwhelmingly Favors Highest Earners


May 30, 2013

A new analysis released today concludes that the wealthiest 5% of Wisconsinites–a group with an average income of $392,000–would get over a third of the benefit of the new income tax cuts proposed this week. 

The analysis by the Institute on Taxation and Economic Policy (ITEP) estimates that the bottom three-fifths of earners – those making $60,000 a year or less – would only receive 11% of the benefit of the proposed income tax cuts. The top 20%–a group with an average income of $183,000–would receive more than two-thirds of the benefit.

Full press release