Price of government soars due to inflation
Just about everything costs more these days with the rate of inflation running at close to nine percent. Unfortunately for state taxpayers, that includes the price of government at all…
A. A scholarly report from Center of the American Experiment points out we are already the 5th highest taxed state, tax increases won’t produce revenue increases, and tax hikes will depress economic growth.
B. The January Thinking Minnesota poll found only 19% of Minnesotans favor raising taxes to address the budget deficit.
C. Minnesota is already spending more per capita than at any time in history and we have a $2.4 billion rainy day fund.
D. ALL OF THE ABOVE!
The correct answer is D — ALL OF THE ABOVE.
“Minnesotans are united in their opposition to new tax increases with a clear message to Tim Walz: Balance the budget by eliminating wasteful and low-priority spending. And whatever you do, don’t try to enact new spending programs,” said American Experiment President John Hinderaker.
“If Gov. Walz’s goal is to generate larger tax revenues to fund even higher government spending in Minnesota, raising taxes is the last thing he should propose,” added John Phelan, Economist with Center of the American Experiment.