“Free for all”
Wisconsin is taking a giant leap towards socialism, flirting with government run “free” health care. The cost, oh…about $3 billion more than the state currently takes in from most state taxes combined. Nothing says free like more than doubling the need for revenue. But the state does have a mechanism for funding the program:
* Employees and businesses would pay for the plan by sharing the cost of a new 14.5% employment tax on wages. Wisconsin businesses would have to compete with out-of-state businesses and foreign rivals while shouldering a 29.8% combined federal-state payroll tax, nearly double the 15.3% payroll tax paid by non-Wisconsin firms for Social Security and Medicare combined.
*…the health plan includes a tax escalator clause allowing an additional 1.5 percentage point payroll tax to finance higher outlays in the future. This could bring the payroll tax to 16%.
All in all, the state needs to increase taxes on the average worker an astounding $510 a month!
Think of it as a reverse JOBZ program. Between higher taxes and promises of future increases, Wisconsin companies will be falling all over each other to get out. Maybe little old Chisago County has a bright future in industry after all.