Latest Posts

Home

Facebook

Twitter

Search
About

Economy Hums and Mining Rebounds Up North

According to a post in the Duluth News Tribune, iron mining firms have rebounded from the slump they experienced a few years ago and the economy in Minnesota is humming along. Just think what the economy would look like up there if Minnesota were to capitalize its vast copper, nickel, platinum group element, and titanium deposits, which would add $3.7 billion in annual economic activity, create more than 1,900 mining jobs and support 6,566 indirect and induced jobs, with total wages of $635 million, and generate nearly $198 million in tax dollars for state and local governments. Story from the Tribune is below. Iron...

Continue reading

In the first quarter of 2018, Minnesota’s economic growth lagged that of the nation

Data released today by the Bureau of Economic Analysis shows that Minnesota's economic growth lagged that of the United States as a whole in the first three months of the year. While the United States grew at a rate of 1.8%, Minnesota's GDP grew at 1.6%. This marked the third straight quarter, and the fourth out of the last five, in which our state's economy has grown at a slower rate than that of the United States. Minnesota's growth rate ranked it 26th among the states and the District of Columbia. ...

Continue reading

In the 1980s, Minnesota cut its top rate of income tax by 8 percentage points. What happened to income tax revenues?

State income tax receipts were higher both in dollar terms and as a share of Minnesota's GDP when the top rate of income tax was 9% than when it was 17%. On this evidence, reducing tax rates will neither 'starve the beast', as some on the political right hope, nor lead us back to a Dickensian dark age, as some on the political left fear. ...

Continue reading

Painter’s Stance on Mining is a Dumpster Fire

U.S. Senate candidate Richard Painter, who became famous for his dumpster fire ad, addressed a crowd of about 100 people in Ely, Minnesota on Tuesday, July 17th. Copper-nickel mining was one of the main topics of conversation at the event. Unfortunately, Painter's stance on the issue is, well, a dumpster fire....

Continue reading

Southwest LRT Summer Newsletter: spending, delays continue while total costs rise

For your summer reading: The Met Council's pet project SWLRT, now largely shifted onto the back of Hennepin County taxpayers, has been delayed again. And yet the Council is spending tax dollars anyway even though it has not received a federal grant. This is "good" news, as good as it gets short of a full denial by the FTA. My prediction is SWRLT will not be funded in 2018. ...

Continue reading

Minnesota’s Goal for 80% Carbon Reductions by 2050 will be Expensive – and Xcel Agrees

Current policies in Minnesota require the state to reduce carbon emissions by 80 percent from 2005 levels by 2050. This will not only require the addition of renewable energy sources into energy markets but will also involve prematurely retiring coal plants that provide low-cost electricity, building significant transmission lines, investing in battery storage technology, and constructing more natural gas plants to “back-up” wind and solar energy sources when they cannot produce electricity. In other words, achieving 80 percent reductions by 2050 will completely change the state’s energy market – and it will be costly. But don’t just take my word for it. Xcel...

Continue reading