Wisconsin Institute for Leadership Says Immediate Action Needed to Boost State

The first rule of holes is that when you find yourself in one, stop digging. So the first order of business for the new legislature is to rein in state spending and state agencies and state policies that stifle growth.  Now is the time we should be encouraging investment and rewarding risk in order to shore up our economy here at home.

WIL believes the Wisconsin Legislature should immediately pass a series of economic development proposals to stimulate the state’s economy.

Before any expensive new government programs are contemplated, and before the State comes to individuals and businesses demanding even more in taxes, the Legislature and the Governor should pass these common sense economic development measures to stimulate the free market in Wisconsin.
Here is a start.

• Stop the Grey Drain and keep assets in our economy by completely eliminating the tax on retirement benefits for Wisconsin citizens over the age of 65
• Encourage investing by doubling the Angel Investment Credit limit
• Reward risk by providing inducements of in-state reinvestments of capital gains
• Get the government off the backs of law abiding business by passing public nuisance law reform
• Create jobs by lifting the nuclear power moratorium
• Help small businesses by allowing Health Savings Account tax deductibility
• Restrain state spending by launching a website which lists all agency expenditures over $100 within 15 days.

These proposals are hardly radical. Most have been vetted by the legislature before. Now is the time to put partisan wrangling aside and stimulate Wisconsin’s economy so this economic downturn doesn’t drag us down even lower, and so that we’re in a position to quickly rebound.

If you are reading this from the comfort of your home, or your place of work, or a public space…

Thank a veteran.

If you voted last week…

Thank a veteran.

If you are in the process of planning a holiday trip to see relatives in another part of the country…

Thank a veteran.

If you had an abundance of choices this weekend regarding where to shop, eat, spend your time…

Thank a veteran.

Today is Veterans Day. But every day you enjoy freedoms that they’ve fought to preserve.

Memorial Day honors those in the military who died while serving their country, or later as a result of combat injuries. Deceased veterans are also remembered on Veterans Day but the day is set aside to thank and honor living veterans who served honorably in the military.

So thank them. Please.

Your freedoms exist because of veterans.

Your liberty has been preserved. Use it wisely.

A little foreshadowing here:

For the first time in its 26-year history, the state’s multibillion-dollar public employee pension fund is preparing to reduce monthly payments, making about 150,000 retired government workers the latest in a long line of stock market victims.

Taxpayers are also expected to take a hit, as the Department of Employee Trust Funds is warning municipalities, counties, school boards and the state that they will have to boost contributions to the pension fund that covers approximately 540,000 active employees and retirees. Governments, on average, contribute about 10.4% of their payroll to the Wisconsin Retirement System, a figure that will likely hit about 10.9% in 2010 if the market value of the state pension fund falls by 20% this year.

Add retiree benefits to the list of issues facing legislators next session.

In fact, as the economy tightens, lawmakers in state and local government in Wisconsin and elsewhere will be faced with serious decisions in the coming months. Cut spending? Cut programs/benefits? Look for a federal handout?

You can guess which is the politically easiest path to pursue.

Prediction: The push for a ‘bailout for the state governments’ will be revved up before the end of the year.