There is no good reason for the Minnesota government to demand more of taxpayers' money in light of the projected budget surplus.
The problem is not that Minnesota's politicians don't get enough of your money to spend, it is that they spend the huge amount they do get badly.
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,…
Minnesota’s spending is already historically high.
If Minnesota closed its deficit by cutting welfare spending by $2.4 billion, the amount of welfare we spend per person in poverty would still rank us sixth highest in the…
Minnesota has the fifth highest top rate of state personal income tax in the United States, our state’s lowest personal income tax rate is higher than the highest rate in 25…
This good news for the state government hides the reality of bad news indeed for the state's lower income earners. How do we help them?
Minnesotans are already some of the most heavily taxed citizens in the U.S. and the state government is already spending record amounts of money per resident. The forecast budget deficit…
Even with conservative estimates of revenue growth, there is scope for tax cuts if we decide to put a cap on per person government spending, in real terms, at the…
Spend it, or leave it with the hard working taxpayers who earned it? That is the $1.5 billion question facing policymakers in St. Paul this session.
This morning, our economist, John Phelan, spoke before the House Ways and Means Committee on HF150, which would require that the inflation rate be included in the state economic forecast.
As state and local agencies scramble to get their borrowing requests in, ask yourself two questions; 1) Is this really 'investment'? and 2) Should the government be doing this?
In May, we wrote that the already weak case for hiking taxes on Minnesotans had just got weaker. New numbers from Minnesota Management and Budget show that, since then, its gotten…
State tax revenues and spending show a steady relationship over time with state GDP. The lesson is clear: if you want to boost state government tax revenues, support policies which…
Lower tax rates have been followed by higher tax revenues. Even so, Minnesota's DFL wants to hike taxes because...they think there is going to be a recession? Who does that?
The state government forecasts that, in coming years, spending growth will outpace economic growth. This means a growing share of the state's economy swallowed up by government.
A surplus of $1.0 billion poses the same questions as a surplus of $1.5 billion does. Should lawmakers spend it? Leave it with the state's citizens? Hold fire until the…
Minnesota's state government is forecast to have a surplus of $1.5 billion over the next two years. This should kill stone dead any notion that tax increases are called for.…
This afternoon, Center President John Hinderaker testified in front of the Joint Economic Committee of Congress in Washington D.C. on the impact of the Tax Cuts and Jobs Act on…
When a deficit for the state's budget was forecast in November, Minnesota's Senate Democrats were quick to blame none-existent tax cuts, contrary to the explanation actually given with the forecast.…
Minnesota's budget is projected to be in deficit in 2018/2019 and 2020/2021. But tax cuts in St. Paul are not to blame. For one thing, there haven't been any.
Minnesota budget projections show a deficit of $188 million for the current two-year budget cycle, and a projected negative balance of $586 million for the 2020-21 biennium.
Minnesota Management and Budget released its October Revenue and Economic Update on Tuesday. They reported below predicted revenues for the state and forecast lower growth nationally.
If you are a young teacher or in the middle of your career, I hope you are putting money away in a 403(b). If you are retired, think about how…