State's wealthiest are target of tax proposal (action needed)

[katinmn]

Please call your senators today and tell them to support the DFL Senate budget plan approved by the senate tax committee chaired by Senator Larry Pogemiller. It's going to come up for vote on Friday (tomorrow). It may not pass as written, but it will certainly mean the governor will have to compromise on the budget.

Gov. Pawlenty calls the temp bump for the wealthiest a "job killer" but the tax hike would allow for needed spending on schools and health care. This tax bracket got a hefty break from GWB. They were also the beneficiaries of significant state tax reductions. "Now we're asking them to help us over a rough spot," says Pogemiller.

The bill also closes some corporate tax loopholes.

http://www.startribune.com/stories/587/5386143.html

State's wealthiest are target of tax proposal
Patricia Lopez, Star Tribune
May 5, 2005 TAX0505

A nearly $1 billion income tax increase on the state's richest 42,000 people would pay for extra spending on schools and health care, under a Senate DFL plan approved in the Senate Taxes Committee on Wednesday night.

The proposal would give Minnesota the highest marginal income tax rate in the country: 11 percent on income above $250,000 for joint filers and $166,000 for single filers.

Married filers earning $250,000 to $500,000 would see an average increase of $2,357, while those making above that would see their taxes jump an average of $20,000.

The 7-5 party-line vote reflects the tough sledding the bill is expected to face as it moves to a Senate floor vote Friday when DFLers will need virtually all their members to counter what is expected to be widespread GOP opposition. Gov. Tim Pawlenty has vowed to veto any statewide tax increase.

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[katinmn]

1. Senate contact info

http://www.senate.leg.state.mn.us/

[SupormomFreeAtLast]

5. Thanks for the link, katinmn

I hope the dems don't back down this time.

[katinmn]

2. Am I the only one that thinks this is the greatest thing since

sliced bread?

We need to do this in the states and nationally.

[MsAnthropy]

3. TP will veto it so he can say he didn't raise taxes, even though

he is trying every back-door shenanigan he can get away with. Now I hear he's trying to lower the renter's credit. What a dick.

[katinmn]

4. Well, the gov and the house are going to have to deal with the DFL

controlled Senate. I like that they are going into the conference committee with this tax plan (if it passes) and their more generous health care proposal. We won't end up with all that's proposed but it will lessen the pain.

[Carolab]

6. Teach those stupid Repukes a lesson for voting for *.

If the Feds cut the budget, WHO do you think has to pay for it?

Give those rich people a wake-up call. Contact your state senators.