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Hello from St. Paul,
House Democrats have unveiled a plan that would create a new income tax bracket for Minnesota’s job providers. It’s a bad idea.
Minnesota already overtaxes its citizens, and far too many people have permanently left this state because of it. Adding the 5th tier to the state’s income tax rates would cause even more people to flee, which would cause more problems for our state’s economy.
The 5th tier income tax plan would level a 12.45% income tax on all individuals making more than $250,000 a year.
After last session’s legislative majority wasted an $18 billion budget surplus and raised taxes by $10 billion, I question why members would support more tax increases as the state faces a $6 billion deficit for the next budget cycle.
These same folks promised middle class tax cuts last session and it never happened. Now, they want to radically raise taxes on those who create jobs and invest in our communities. If it becomes too expensive to conduct business in this state, job providers leave. We’ve proven that time and time again. At times like this, we should be finding ways to encourage people to invest in our state rather than putting up financial roadblocks.
Have a good weekend,
Greg
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2214 Centennial Office Bldg.
658 Cedar Street
St. Paul, MN 55155
651-296-9278
[email protected] |
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