April 15 is a Saturday this year, and because of a holiday in Washington, D.C. the deadline to have your taxes filed this year is April 18.
A new report by Wisconsin Taxpayers Alliance says a growing burden of those taxes belong to taxpayers in what is called the "middle-income' tax bracket. The report shows middle-income filers with taxable incomes between $50,000 and $150,000 are particularly affected.
WTA spokesperson David Callender says a hypothetical married couple in that range, income taxes rise surprisingly quickly as income increases. He says Wisconsin has a progressive income tax but their study found it less so in the middle...
"....Where it's less progressive is right in the middle, with incomes from $50,000 to $150,000. At that point, you see a loss of some progressivity. In general, the tax is quite good if your a low-income earner, It's also fairly generous if your an upper-income earner, but it does take a pinch from middle-income folks...."
Callender says the vast majority of taxes come from the middle-income earners...
"....the majority of taxes come from those middle-income earners. There is always a temptation on the part of legislators to go where the money is. As we're in the (state) budget process and we're moving forward on a number of fronts, it doesn't hurt to take a look and see who is getting swept up in the tax net...."
Callender says Wisconsin’s individual income tax ranks relatively high among the states, 12th highest according to available federal figures. What is not well known is that rank varies depending on taxpayer income from as high as 10th to as low as 32nd. A link to the report ishere.
