Posted on 11/29/2006 9:11:28 AM PST by MplsSteve
Minnesota finance officials expect the state treasury to run a $2.17 billion surplus through June of 2009.
That includes a projected surplus of $1.038 through June of next year, and $1.132 billion for the following two years.
"We've got some pretty good news here,'' Finance Commissioner Peggy Ingison said before she outlined the numbers at a Capitol news conference Wednesday.
The economic report details tax and spending patterns. The news means GOP Gov. Tim Pawlenty and a Legislature now in DFL hands will have extra money to devote to schools, public health care programs and, maybe, tax cuts.
(Excerpt) Read more at startribune.com ...
On the other hand, I'd say it's time for a tax rebate. Or at the very least, I would dearly love to see some of this surplus used to repair our bridges and roads. Frankly, they're starting to turn into s**t lately. If you're a Minnesota driver, you know exactly what I mean.
The down side to all this other than the fact state govt may have taxed us too much? There's no guarantee that this surplus will remain now that the DFL has seized control of both the state house and state senate.
Comments or opinions - anyone?
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I guarantee no rebates (at least not to those who actually paid the taxes)
Expect more of the same:edukation,choo-choo trains,welfare.
sounds like its time to cut taxes in minnesota. although if you have a dem state congress, thats not gonna happen.
" On the other hand, I'd say it's time for a tax rebate. "
No, how about lower tax rates,
a lasting solution.
We already have income tax and sales tax,
cut the income tax down to 3% for all,
use surplus to cover budget while
awaiting incoming sales tax revenue,
as more Minnesotan's will have more income to spend.
Ventura already missed out
on being a hero to the average tax payer,
with his tiny (1/2)% rate reduction.
I agree.
Lower tax rates are the best way to go.
But this is Minnesota.
I have built-in low expectations of my state govt.
A tax rebate would be the best we could hope for.
I heard about the surplus on the radio last night, and I swear, I could hear the trademark "ka-ching" noise, of every State Senator, State Representative, and even our Governor as their eyes turned to dollar signs, as soon as the sentence was done.
We have little to no chance to see the money back where it belongs-in our pockets.
OK. Let's have a vote.
Who thinks the state will cut taxes and rebate the surplus?
Who thinks the state will increase spending and swallow up the surplus (and guarantee another deficit when revenue drops off)?
Silly questions, I know.
gee...I wonder who she is referring to when she says "we"
I gotta go with A.
LOL!
Good luck with that.
LOL! Pretty much.
DFL stand for Democratic-Farmer-Labor.
Until 1946, there was a Democratic Party AND a Farmer-Labor party in Minnesota. The Democrats were more establishment-oriented but the Farmer-Labor wing was pure Far Left material.
Both parties realized that they were allowing GOP dominance in this state and decided to merge. Hubert Humphrey and Eugene McCarthy were instrumental in getting this done.
Within 4 years, they had to lead an ugly and protracted purge of Communists who had taken refuge in the Farmer-Labor party prior to the merger. Humphrey, etc. realized that the Communists would affect their parties' electability. Humphrey was also very anti-Communist as well.
So how much will my rebate be?
/Worldclass sarcasm
" On the other hand, I'd say it's time for a tax rebate. "
No, how about lower tax rates,
I'm afraid either one is going to happen. I hope I'm wrong, but I doubt it.
OK..Thanks. I forgot about the Communist farmers union party.
As far as the roads, when I lived in Minne-soooo-ta, 20 years ago, they used concrete almost exclusively for roads. I have noticed in years since, while visiting, that they are going more and more to asphalt. Sorry, but asphalt is cheaper, but it is just not up to Minnesota winters.
Property taxes are expected to increase 8.2 percent next year according to the latest estimate from the MN Revenue Department. Earlier predictions were to be higher, but many districts defeated property tax increase in the Nov. 7 election. Many fees were increased or created to makeup for the so called no new taxes rant from the last four years.
I used to live in Minnesota and could never understand why the Farmers were so left wing. In Nebraska, it is the opposite. The Farmers here are solidly conservative. Any ideas why there is this difference?
Considering the make-up of the Legislature, you're probably right.
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