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The State of Minnesota’s Economy: Performance Continues to be Lackluster

A new report by Center of the American Experiment finds Minnesota's economy continued to be lackluster in 2017 with slightly below average economic growth, lagging productivity and personal income gains driven by a rise in government transfer payments. The State of Minnesota's Economy: 2017 report builds on a benchmark 2016 study showing Minnesota's economic performance over the last 15 years was average, at best, in comparison to other states in job creation, income growth and other key metrics. While Minnesota has historically enjoyed a strong and diverse economy with a high standard of living, the Center's annual analyses of a broad range of economic...

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Eliminating deductions will hit high-tax Minnesota

Politicians passed high state tax rates into law. They told us high taxes are a good thing. They have repeatedly said that tax rates don't affect decisions about location, employment, and investment. If they really believe that, why are they worried about the abolition of the State and Local Tax Deduction? The fuss about SALT shows what these politicians really think. Talking about yanking up tax rates on the rich is one thing. Actually paying them is another. Actions speak louder than words, and in their defense of SALT these people are saying loud and clear "No new tax"...

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Skills Matter More Than Type of Degree

(Photo Credit: The Markle Foundation) A new report from Center of the American Experiment reveals that there’s “gold in a two-year degree.” The study found that young Minnesotans who choose a variety of non-four-year career pathways—in skilled manufacturing, health care, construction-related occupations, etc.—can often earn more in a lifetime than their peers with a four-year degree. Now a new study from the American Enterprise Institute (AEI) in Washington, D.C., confirms this is true across the nation. ...

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Venezeula’s economic and social collapse shows that Bernie Sanders is another “useful idiot”

In 2011, Sen. Bernie Sanders wrote "These days, the American dream is more apt to be realized in South America, in places such as Ecuador, Venezuela and Argentina, where incomes are actually more equal today than they are in the land of Horatio Alger. Who's the banana republic now?" Now, Venezuela's economy is collapsing as a horrible, predictable result of its socialist economic policies. At some point in the 20th century, the term "useful idiots" was coined for people in the rich west who extolled the virtues of communism. Sen. Sanders is one of the latest in this long and...

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Personal Income growth in Minnesota is driven by increases in transfer payments and shows our state’s poor performance on productivity

Minnesotans have a higher level of personal income than Americans generally. But in recent years the main contributor to its increase has been rising transfer payments. And, odd as it may seem, Minnesota's above average levels of per capita Personal Income indicate again our state's below average productivity. ...

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