(ST. PAUL, Minn. - Gov. Mark)Dayton: Tax rich to fix deficit

[kpete]

Source: Winona Daily News

(ST. PAUL, Minn. - Gov. Mark)Dayton: Tax rich to fix deficit

ST. PAUL, Minn. - Gov. Mark Dayton looked to the wealthy to erase about half of a $6.2 billion budget deficit on Tuesday, proposing a new top tax bracket and an income surtax that together would give Minnesota the nation's highest income tax rate.

The Democratic governor's plan would raise nearly $2.9 billion from the top 5 percent of taxpayers, including a new property tax on homes valued at more than $1 million.

It would also increase taxes on health care providers and corporations with foreign operations, while cutting almost $1 billion in spending for programs including MinnesotaCare health care and nursing homes.

The tax increases and spending cuts are contained in Dayton's proposal for a two-year, $37 billion budget that guides more money into education but could also cost about 800 state workers their jobs.



Read more: http://www.winonadailynews.com/news/local/govt-and-politics/article_63872936-39cc-11e0-88f2-001cc4c002e0.html

[midnight]

1. That works for me....

[inademv]

2. Now if we can enact this on a Federal level...

[postulater]

3. Scott, are you listening?

Here's your way out!

[Bozita]

4. What an ingenious idea! Has this ever been tried in modern-day America?

I'm shocked, shocked I tell you!

[Angry Dragon]

5. My governor

[annm4peace]

6. Dayton used this in his campaing.... AND HE WON !!!!!!

sadly the GOP took the House and Senate.. but DAYTON STILL WON.

Today I went to the Solidarity protest at the the MN State Capitol in St. Paul. and then off to River Falls, WI for a protest at a country club Republican event with Gov Walker and MN's Bachmann was to show up. There were about 300 people who lined the road at the entrance.. Gov Walker and MN Bachmann decided to cancel.. couldn't handle the protesters :).

Anyhow I proudly wore my Dayton/Union campaign button "TAX THE RICH".

[snappyturtle]

9. Good for you!

:yourock:

[AlbertCat]

7. Calling all financial crises

C'mon.

Everyone knows what has to be done to fix things statewide and nationally.

Everyone knows it.

Raise taxes and cut corporate welfare.

Since many people are not doing so well, those that are doing well will just have to buck up. They may have to forgo some small luxury, but they'll still be rich after their taxes.

And Corporations are doing GREAT these days. They are not hurting one bit. So they don't need any welfare or sweet deals.

[snappyturtle]

8. A Gov. who thinks...how refreshing! Although I am sorry to hear about the

cuts into MinnesotaCare, the taxes on the rich works for me.

[SlimJimmy]

10. I guess this is the new definition of rich in Minnesota.

I have no problem with those making over 250k paying more in taxes. But does anyone here consider a person making 85k a year rich?

Dayton campaigned on raising income taxes on the wealthy. His tax plan would impose a new fourth bracket of 10.95 percent for single filers making $85,000 and up in taxable income and couples who make more than $150,000. It tacks another 3 percent surtax on people with $500,000 or more in taxable income for the next three years, going beyond what he talked about as a candidate last year.

[PSPS]

12. Comparitively, yes

The median income is just under $50K/year, and those making over $85K/year would pay the same tax as the lower bracket on their first $84K. The 10.95% rate applies only to the amount over $85K. The top bracket, over $150,000, is 3% more, as it should be. Graduated rates.

[SlimJimmy]

13. So, then you agree that 85K a year is rich? Or at least the beginning point for

rich? At what point does a person not become rich? 70K, 60K, 50K? In 2008, rich was defined by President Obama as 250K or more. That's quite a drop in a little more than two years.

[Nikia]

17. They might have some discretionary money

Which they can be taxed on without economic hardship. Probably there are some people in this income category who don't feel this way because they might have high morgage payments or car payments or paying for private schools. Some might have gotten sick and have medical debt. They are better off than the majority of Americans though and usually aren't just scraping by.

[SlimJimmy]

19. I agree with what you are saying to a point. But where do we draw the line?

Do we tax only those folks who aren't scraping by? Do we get every last tax dollar out of them? A single person making 50K or 40K a year might also have some discretionary money that could be taxed. I just have a problem with the moving target.

[Zoeisright]

23. Did you read that?

Their taxes will go up by 3% for the amount OVER $85,000. So a single person making $100,000 in TAXABLE INCOME will pay an extra $450. That's hardly "taxing every last dollar out of them".

[SlimJimmy]

32. Do you understand that President Obama said he didn't

want to see taxes raised on anyone making less than 250K? I guess that doesn't count when it's a state governor doing it.

[SlimJimmy]

38. Unless you made a promise to only tax more from the rich. Then it's a

promise broken.

[Little Star]

21. I don't think making 85K a year makes a person rich. However

anyone who files single and makes 85K per year should be able to pay a bit more in taxes. He seems to be using some kind of sliding scale on taxable income. I think he's got the right idea. 85K for a single person is pretty good pay anywhere in the USA.

[SlimJimmy]

35. It is good pay, and I won't argue that point at all. But the governor said

he was going to balance is budget by taxing the rich. I still don't consider 85K a year to be anywhere near rich.

[TheDebbieDee]

11. Snap!

[Liberalynn]

14. Its about time one of them admitted this is what needs to be done

and has the guts to do it.

[TygrBright]

15. Buh-buh-buh-but...... But... I thought that when a state ran a budget deficit....

...there's NO OTHER CHOICE but to cut the shit out of every conceivable service or program that benefits anyone other than super-rich big business types. And to fire all those "overpaid" government teat-suckers, and outsource their jobs to patriotic, responsible corporations who will pay people a proper wage--somewhere around $3 an hour, ideally, and certainly none of those profit-cutting "benefits"!

And then watch while the cost of those contracts ends up making the state's budget deficit WORSE. But at least then the money would be going where it belongs--into the offshore bank accounts of the corporate owners and super shareholders. Rather than being wasted in over-paying greedy little timeserving public employees who'll piss it away on things like school clothes for their children and home improvements in local communities and other useless trivia.

You mean, there actually

is

another choice?

Who knew!?!?

disingenuously,
Bright

[Nossida]

16. Bravo Mr Dayton

Mr Dayton is a Hero of the People.
I have always considered him one
of the 'ONLY' men of integrity we
were fortunate enough to have serve
in the US Senate.

A Man of few words, but a Man of truly
meaningful words when he does speak.

Frankly, I would love to see him as President.

[gimama]

18. Dayton was my hero as a Senator..

..as the invasion of Iraq was starting to go to hell,
I saw him come out of a closed committee meeting, his face ashen & serious..
Dayton said,"the American People have no idea what's going on over there,
how many casualties we're taking, the American People have a Right to KNOW.." while the * admin. were 'confidently' strutting & spouting lies, hiding the facts. Thank You, Mark Dayton, for speaking OUT, when no one else would..I respect Your Integrity & appreciate Your Service.

thanks for posting this!:hi:

[fittosurvive]

20. 85k is rich...? The per capita income must be pretty low in Minn.

[Zoeisright]

24. READ the article before you regurgitate talking points.

The tax increase is extremely mild. It's a 3% increase on the amount over $85,000 taxable income for a single person and %150,000 for a married couple. Are you telling me that a married couple making $200,000 in TAXABLE income can't afford an extra $1500 a year in taxes? That comes out to $125 a month - about the amount most people spend on Starbucks.

[totodeinhere]

25. You call the nation's highest state income tax rate mild?

I think you have your terminology wrong. Let's repeat this. Under Dayton's proposal, Minnesotans would pay the nation's highest state income tax rate. Tell me how that is fair.

[plumbob]

30. Minnesotans receive some of the best benefits from their state government

compared to other states in the nation. How is that fair?

http://taxes.state.mn.us/publications/Pages/Minnesota-Income-Tax-Rates.aspx


You want a low state income tax? Come to Texas. We have none. We also have the highest sales tax in the country - 9-1/4% in some cities, and EVERYONE pays that full amount on items they buy, even those who are homeless and pick up aluminum cans for a living, while in Minnesota, single people who make %85,000 a year are asked to pay less than 8% on the amount they make OVER $85,000.

So what does my homeless guy in Texas get for his 9-1/4%? The state is in the process of withdrawing completely from the Medicaid program effective July 1 this year, leaving you at the mercy of county emergency rooms for any type of medical care.

Seems to me Minnesota has quite a bit better public care than that.

So in Texas, the ZERO income bracket pays 9-1/4% sales tax on everything they buy except for raw food items and hired labor, and will receive NO health care from the state, while in Minnesota, single folks making more than $85,000 will pay less than 8% on income over that $85,000 figure and have access to excellent health care.

How is THAT fair?

[dflprincess]

37. The 3% surtax on incomes of $500,000 or more is what results in the "highest state income tax rate"

95% of Minnesotans would not see a raise in their income taxes.

One goal of Dayton's budget is to be able to restore cuts in state aid to local government units. The cuts in that aid have resulted in huge property tax increases and those increases are forcing older people on fixed incomes out of their homes.

Property taxes are regressive. Dayton's plan to increase the more progressive income tax is an attempt to put some fairness back in the state's tax system. Currently, when all taxes are added up, those in the brackets Dayton is targeting pay a small percentage than those making much less.

[fittosurvive]

28. $125/month is not mild.

Are you aware of how much it costs to send a kid to college for four years? This is one of the reasons that I make my own starbucks. Clearly, this is nothing more than another way to attack the middle class.

Nevertheless, if this is what Dayton campaigned on, the people have spoken. I'm just thankful that I don't live in Minn.

[Kingofalldems]

22. K and R for Ayn Rand worshipers

[wordpix]

26. YES! Finally, one who stands up to the bully rich puppetmasters!

[woo me with science]

29. And he IS rich, which helps. nt

[Greybnk48]

27. I love Dayton. Wish we had him here in WI.

We're stuck with Dubya--the sequel, i.e., another cross-eyed dim-wit.

[glinda]

36. MN & WI need to have control of Governorships, Houses and Senates.

[sarcasmo]

31. Finally, common sense. This guy is ten times the Democrat Raygun 2.0 will ever be.

[ButterflyBlood]

33. I'm glad my Governor gets it!

Unlike the waste of space we have just to the east...

[truthisfreedom]

34. Well, that will likely cost me $12K a year, but f*ck it, someone has to pay the bills.

He's right.