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Bennett's Plan to Tax the Rich
The Democratic Socialist who is running for the State Assembly from Madison is not backing down from criticism of her plan to “tax the rich.”
DSA candidate Juliana Bennett took to X on Monday to defend the plan that would spike Wisconsin’s top income tax break to more than 17%.
"Paying 17¢ on your one millionth dollar of income isn’t extreme," Bennett said in a post. "Forcing Wisconsin homeowners to move because they can’t afford property taxes is extreme."
Bennett has made taxing millionaires and billionaires a central theme of her campaign. She claims that by raising taxes on millionaires, Wisconsin can lower property taxes by 44%.
The legislation she is supporting, however, does more than just tax millionaires and billionaires.
Eric Bott, the former head of Americans For Prosperity Wisconsin, explained that the proposal would nearly double Wisconsin’s income tax on people making six figures.
"The bill raises taxes on filers in Wisconsin’s top income tax bracket by 15.69% these are people making over $323Km," Bott explained. "So now we know how they’re defining “super rich” and “billionaire.” It’s people making $323K. This alone would make WI the 9th highest income tax state."
Bott added that the plan Bennet is backing would start a 17.7% 'millionaire's' tax rate at $750,000 per year.
"So who will be paying this tax? Billionaires? Not really. Wisconsin hardly has any. The majority of payers will be mom and pop small businesses," he added.
Bennett, then doubled-down again.
"Let me summarize: To lower property taxes by 44%, people making $1,000,000 per year will pay higher income taxes!!! Ahhhh!!!!" she wrote on X.
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