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Minnesota’s lags the U.S. average on Personal Income growth but leads on transfer income growth

An aging population and increased Social Security spending might mean that income from transfers will increase. But it is a source of concern that it is increasing so much faster in Minnesota. For income to be transferred, someone must first earn it. For transfers to account for a growing share of incomes, is not sustainable. ...

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Minnesota’s unemployment rate is down from July to August, but the number of people unemployed is up 20% over the year

Over the last year, Minnesota's working age population has grown faster than that of the United States generally, but employment has increase more slowly. As a result, while the number of unemployed rose across the country by 1.3%, in Minnesota it increased by 20.1%. ...

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Evidence from San Francisco shows that rent control makes income inequality worse

Surely, when San Francisco's politicians passed rent control laws they didn't intend to increase income inequality in the city. But that is what happened. Once again, we see the truth of Milton Friedman's old saying: “One of the great mistakes is to judge policies and programs by their intentions rather than their results”...

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New research shows that lower state taxes can increase entrepreneurship

Minnesota is one of the highest taxed states in America. Research shows that these high tax rates disincentivize R&D. And the data shows that our state lags the national average on R&D spending. It is hard to avoid the conclusion that Minnesota’s high taxes are deterring R&D in the state. To get that investment up, we need to get those rates down....

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