Minn.’s Dayton wants to tax wealthy to fix deficit
Taxes Wednesday, February 16th, 2011
By MARTIGA LOHN, Bloomberg BusinessWeek
Minnesota Gov. Mark Dayton is looking to the wealthy to erase about half the state’s $6.2 billion deficit.
The Democrat proposed new top income taxes Tuesday that would give Minnesota the nation’s highest income tax rate.
Dayton’s plan would raise almost $3 billion through a new 10.95 percent income tax rate, 3 percent temporary income surtax and property tax on million-dollar homes.
The taxes are part of a two-year, $37 billion budget proposal that includes cuts for state-subsidized health care and nursing homes and more money for schools.
To read more, visit: http://www.businessweek.com/ap/financialnews/D9LDEJ5G0.htm
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Posted by reteaparty on Feb 16 2011. Filed under Taxes. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry
