On Monday, May 17, the Minnesota legislature announced they have agreed on a $52 billion budget for the next biennium. As reported by the Star Tribune, The leaders of the…
Minnesota ranked among the top 5 most progressive states after comparing tax rates paid by Married-joint Return filers earning $20,000 with fillers in the same category earning a higher income.
Tax hikes on tobacco merely burden low-income smokers, and harm Minnesota businesses without significantly reducing tobacco use.
In 2018, households in the lowest income decile paid an effective rate of 2.77% on tobacco taxes compared to the 0.05% paid by those in the top income decile.
In November 2020, the Minnesota Management and Budget forecasted a $636 million deficit for the biennium ending July 2021 and $1.2 billion for the 2022-2023 biennium. By February 2021, however,…
Last week, the Star Tribune reported: Thousands of Minnesota families living in poverty will see a boost in monthly relief payments and will no longer have to meet cumbersome paperwork…
Yesterday, I testified in the House Committee on Taxes in opposition to HF 1689, a bill brought by Rep. Aisha Gomez (DFL) which would abolish the ‘stepped up’ basis of…
Today, the Minnesota House of Representatives held a hearing session for a tax bill proposing to create a fifth-tier individual income tax rate of 12.45% in Minnesota. In my testimony…
It is quite surprising that with all the evidence showing how detrimental high taxes are to economic growth, our governor is calling for tax hikes. What is more surprising, however,…
This op ed appeared in the Duluth News Tribune on March 20th, 2021 The COVID-19 pandemic has played havoc with Minnesota’s state finances. Late last year, Minnesota Management and Budget…
Sooner or later, the not-so-rich Minnesotans will have to pick up the tab for all the increased spending being proposed when the rich leave or find ways to reduce their…
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…
Cigarette taxes are already so high in Minnesota. Raising them further will do very little to reduce smoking. However, it will make cigarette smuggling even more profitable.
There is no good reason for the Minnesota government to demand more of taxpayers' money in light of the projected budget surplus.
Does this mean they are taxed too heavily?
A new forecast for 2022-2023 is due later this month and there is pretty widespread agreement that it will see the forecast $1.3 billion deficit disappear. If it does vanish,…