General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe Governor of West Virginia Jim Justice is calling for a 10% income tax cut. WV had a $1.3 billion
budget surplus due to the Biden economic recovery Justice is now taking credit for.
ProudMNDemocrat
(16,786 posts)But then West Virginia is not exactly smart when it comes to fiscal matters.
Minnesota learned that lesson after 10 years of fiscal mismanagement with Jesse Ventura and Tim Pawlenty at the helm. Budget deficits in the BILLIONS, a Bridge that collapsed, as well as State Government shutdowns, and rising fees and taxes just to cover basic services.
It took Mark Dayton 6 years from 2011 to bring Minnesota back into the Black with Budget surpluses by doing the unpopular things by raising taxes on the very rich earners and corporations in our state. They did not flee. As of now, our Surplus is close to $10 BILLION. Some of it will go back to tax payers.
Much will go into an untouchable fund to get through recessions, the rest invested back into Minnesota communities. That is being smart with people's tax dollars.
Minnesota continues to rank in the Top 5 states in which to live and do business in. We can afford to have the nicer things states headed by Republicans who only wish they could have.
secondwind
(16,903 posts)Lovie777
(12,281 posts)with the surplus.
colsohlibgal
(5,275 posts)Once again, people, younger people in particular, should read up on historical income tax rates.
FDR took us out of the Depression by jacking up the tax rates on the filthy rich and putting people to work on Public Projects. Those rates stayed high till the B Actor Reagan showed up, he drastically reduced the rates. And here we are with tons of people scraping by while Elon Musk cavorts around with his zillion dollars.....while mass shootings become commonplace. Welcome to 21st Century America.
Rebl2
(13,527 posts)the state needs to remind people that budget surplus is due to Biden recovery plan.