One way to generate increased per-worker output — which is the essence of economic growth — is to increase the amount of capital per worker. How can policy drive that?…
Back in 2021, Minnesota enacted a roughly $5 million a year tax credit intended to attract TV and film productions to the state. The Film Production Tax Credit: …provides an assignable 25%…
Last year, I wrote about a paper by economists by economists James Cloyne, Joseba Martinez, Haroon Mumtaz, and Paolo Surico which found that: A corporate income tax cut leads to a…
It is often argued that, at the federal and state level, “the rich” and their corporations use their wealth to influence policy in their economic interest. An example is found…
Two weeks ago Gov. Tim Walz and the two top leaders of the state Legislature struck what was grandly termed a ‘global agreement’ on the state budget for next biennium.…
Yesterday, I wrote about some of the research on the effects of corporate taxes on entrepreneurship. But the positive observation that higher rates of corporate taxation lead to lower rates…
At a rountable last Friday, Minnesota’s Department of Employment and Economic Development (DEED) announced its aim of marketing the state as the premier hub to launch a new business. “We…
Last week, we released our new paper ‘The State of Minnesota’s Economy: 2020‘. In it, we argued that Minnesota’s economy is being held back by its excessively high taxes. Chief…
When Gov. Walz unveiled his proposed budget for the 2022-2023 biennium in January, I wrote that the proposals were “horrible.” Yesterday, he unveiled a revised two-year budget taking into account…
In our recent report ‘Closing Minnesota’s Budget Deficit: Why we should make spending cuts and not raise taxes‘, we wrote that our state has the fourth highest top rate of…
The Department of Revenue found that 46% of the burden of corporate tax hikes falls on Minnesota's consumers in the form of higher prices and 27% falls on our state's…
Tax systems designed to advance 'fairness', i.e. highly progressive tax codes that tax high-income earners and corporations heavily, are harmful not only because they disperse high costs on individuals paying…
with an ageing population, improving productivity is vital for Minnesota’s economic future. Our high corporate income tax rate is an obstacle to this. We must hope the federal cut passes…