{"id":2258,"date":"2023-04-18T16:23:47","date_gmt":"2023-04-18T16:23:47","guid":{"rendered":"https:\/\/wifamily.news\/?p=2258"},"modified":"2023-04-18T16:37:54","modified_gmt":"2023-04-18T16:37:54","slug":"study-a-flat-rate-income-tax-would-spur-growth-and-opportunity","status":"publish","type":"post","link":"https:\/\/wifamily.news\/?p=2258","title":{"rendered":"Study: A Flat-Rate Income Tax Would Spur Growth and Opportunity"},"content":{"rendered":"<p>This post originally appeared at <a href=\"https:\/\/www.badgerinstitute.org\/study-a-flat-rate-income-tax-would-spur-growth-and-opportunity\/\">https:\/\/www.badgerinstitute.org\/study-a-flat-rate-income-tax-would-spur-growth-and-opportunity\/<\/a><\/p>\n<h5 class=\"wp-block-heading\"><strong><em>Tax reform can have substantial benefits for Wisconsinites\u2019 economic prospects<\/em><\/strong><\/h5>\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.badgerinstitute.org\/wp-content\/uploads\/2023\/04\/2023_PolicyBrief-FLAT-RATE-TAX.pdf\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/wifamily.news\/wp-content\/uploads\/2023\/04\/Screen-Shot-2023-04-17-at-2.36.16-PM.png\" alt=\"\" class=\"wp-image-46019\" width=\"252\" height=\"349\" \/><\/a><\/figure>\n<\/div>\n<p>Author Don Bruce, a prominent economist at the University of Tennessee, estimates moving to a flat individual income tax in Wisconsin could generate nearly $7.2 billion in additional GDP, $614 million in new investment, and nearly 24,000 additional jobs over the next five years.<\/p>\n<p>Wisconsin has long had one of the country\u2019s most progressive individual income taxes, with a top rate of 7.65% that is the eighth highest in the nation.\u00a0Bruce\u2019s report explores the economic impact of moving to a 5.1 percent flat-rate tax.<\/p>\n<p>Approximately 95% of Wisconsin businesses are pass-through entities that pay the individual income tax rates. A shift to a flat-rate individual income tax would, therefore, also result in a meaningful tax reduction for many businesses, which then should result in lower price growth, higher wage growth, more employment and higher shareholder value.<\/p>\n<p>Bruce\u2019s findings are substantial impacts, especially in light of Wisconsin\u2019s slow to negative projected growth in the next two years.\u00a0As such, his figures are lower-bound estimates that would certainly be even larger in more robust economic times.<\/p>\n<div class=\"wp-block-buttons is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.badgerinstitute.org\/wp-content\/uploads\/2023\/04\/2023_PolicyBrief-FLAT-RATE-TAX.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Read the Study<\/a><\/div>\n<\/div>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.badgerinstitute.org\/study-a-flat-rate-income-tax-would-spur-growth-and-opportunity\/\">Study: A Flat-Rate Income Tax Would Spur Growth and Opportunity<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.badgerinstitute.org\">Badger Institute<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This post originally appeared at https:\/\/www.badgerinstitute.org\/study-a-flat-rate-income-tax-would-spur-growth-and-opportunity\/ Tax reform can have substantial benefits for Wisconsinites\u2019 economic&#8230;<\/p>\n","protected":false},"author":7,"featured_media":2260,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-2258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-badger-institute"],"_links":{"self":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/2258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2258"}],"version-history":[{"count":2,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/2258\/revisions"}],"predecessor-version":[{"id":2261,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/2258\/revisions\/2261"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/media\/2260"}],"wp:attachment":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}