Now see, here is the way a Governor is supposed to handle budget shortfalls. Tax the wealthy

[NNN0LHI]

http://politicsinminnesota.com/blog/2011/02/dayton-budget-pitches-4b-in-taxes/

by Charley Shaw and Jake Grovum
Published: February 16,2011
Time posted: 3:01 pm


<snip>In his administration’s first budget proposal, Gov. Mark Dayton delivered on a campaign promise to make tax hikes on Minnesota’s wealthiest earners the chief weapon in solving Minnesota’s $6.2 billion budget deficit.

“I’m not willing to make barbaric cuts in the essential services that affect Minnesotan’s lives,” Dayton said in presenting the plan. His budget calls on lawmakers to increase state revenue of various sorts by $4.13 billion, a figure that includes around $2.8 billion in top-bracket income tax increases. The budget makes $950 million in permanent cuts but adds $465 million in new spending, for a total of $485 million in net budget reductions. That leaves the ratio of new taxes to net cuts in the proposal at roughly 8-1. snip

The DFL governor said that the state’s wealthiest citizens need to help the state survive its fiscal crisis. He also laid out a case that lawmakers need to correct the failings of a tax code that isn’t keeping pace with the rising incomes of the richest Minnesotans. snip

Taxes: Dayton’s signature fourth-bracket income tax increase would generate an estimated $1.89 billion from a new 10.95 percent rate on taxable incomes exceeding $150,000 for joint filers. In addition, he wants to raise $918 million from a two-year surcharge of 3 percent on incomes that exceed $500,000. Dayton further visits his deficit solution on the country-club set by generating $84 million from a state property tax surcharge on homes worth more than $1 million.

[liberal N proud]

1. This is the difference between Democrats and Republicans

In general Democrats do represent the middle and lower class Americans whereas, the Republicans ONLY represent the rich and would never raise taxes on their constituents.

[ehrnst]

5. The Republicans also represent the wannabe rich.

The ones that think they're going to own a plantation someday, and sit on the big columned porch with the other rich folk. They think that they're going to benefit from all those tax breaks, once that lotto ticket pays off.

[liberal N proud]

10. Those are the willfully ignorant

[drm604]

2. Thank you Minnesota and Governor Dayton.

This is an example of what needs to be done. Don't put it all on poor and middle class working people. Put it on those who can afford it and won't feel real pain because of it.

[kentuck]

3. Kick

and rec!

[Drale]

4. Tax em until they bleed green

I would say tax em until they cry but the rich people in congress would cry their taxes are to high even if their tax rates where in the negative and the government gave them money, o wait.

[riverwalker]

6. send him some love

[e-mail]

[Jakes Progress]

7. What needs to be shown

is that these measures will cause no hunger, no freezing, no unemployment. No hardships will accrue from these very reasonable actions.

[fittosurvive]

8. Wow...! If you earn $75,000, you are considered rich in Minnesota!

[kcks]

9. At

what point is it enough, along with a tax should there be a spending cut, a real cut not just a reduction in future spending.

[Nye Bevan]

11. Wow. Imagine if Obama used the same approach.

"I'm not willing to make barbaric cuts in heating assistance"....... instead, impose a 3% surcharge on all incomes over $500,000. Well, we can dream.....