Posted on 05/10/2010 1:18:00 PM PDT by Son House
Democrats who run the Legislature are proposing new income taxes for the wealthiest Minnesotans to help erase a $2.9 billion deficit.
The proposal cleared the Senate Taxes Committee on a 9-4 vote on Monday on its way to floor votes in both chambers later in the day. It's part of a broader deficit fix that includes spending cuts and delayed state aid payments for public schools.
The tax plan re-ignites a familiar debate between anti-tax Republicans and Democrats who say the state needs new sources of revenue.
It would establish a new 9.15 percent tax tier to raise more than $400 million through mid-2011. Married couples would pay that rate on adjusted taxable income topping $200,000.
Republicans say the proposal is destined for a veto.
Also, a LOT of people adjust their incomes and take pay cuts to come in JUST UNDER the tax threshold ...
They have LESS disposable income to spend on things like SLOTS, which MD recently passed. MD IS NOT seeing ANYWHERE NEAR the tax receipts that were projected ...
I hope they succed we can always use more jobs here in Georgia.
Well, no. It isn't the "wealthiest" who will have their taxes raised, it's the ones with the highest verifiable incomes. There is a rather large difference. If you want to stifle economic activity, punish success.
Well, let’s see, raise the taxes if you want less of an activity, the wealthiest Minnesotans will leave, and then Democrats will come for the rest of the wage earners to fund their spending. The opportunity cost will be jobs, jobs, jobs, private sector jobs, jobs, jobs...”
Hard to leave your farm land—but it is easy to decide NOT to grow something in a couple of your fields.
OR- prep & plant the field- then plow it under due to a ‘freeze’ or something.
Don’t lose sight of the fact that the largest number of Somalians are living in Minn/ST Paul.
Don’t lose sight of the fact that the largest number of Somalians are living in Minn/ST Paul.
How the hell did that happen???
Why is this so hard?
Raise taxes on lawyers. Make it a surtax on legal fees.
Watch Democrats go insane. Time to fight class warfare with class warfare.
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