tag:blogger.com,1999:blog-7895164153505105997.post8090369969419761923..comments2024-01-17T00:45:37.075-08:00Comments on Bud Meyers: How will the rich spend any new tax cuts?Bud Meyershttp://www.blogger.com/profile/02065020063363023395noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-7895164153505105997.post-69941570580227812032015-06-08T21:19:34.223-07:002015-06-08T21:19:34.223-07:00What happens when you tax the rich and raise the m...What happens when you tax the rich and raise the minimum wage? <br /><br />During his first four years in office, Minnesota Gov. Dayton raised the state income tax from 7.85 to 9.85 percent on individuals earning over $150,000, and on couples earning over $250,000 when filing jointly -- a tax increase of $2.1 billion. He's also agreed to raise Minnesota's minimum wage to $9.50 an hour by 2018, and passed a state law guaranteeing equal pay for women. Between 2011 and 2015, Gov. Dayton added 172,000 new jobs to Minnesota's economy -- that's 165,800 more jobs in Dayton's first term than Pawlenty added in both of his terms combined. Even though Minnesota's top income tax rate is the 4th-highest in the country, it has the 5th-lowest unemployment rate in the country at 3.6 percent. According to 2012-2013 U.S. census figures, Minnesotans had a median income that was $10,000 larger than the U.S. average, and their median income is still $8,000 more than the U.S. average today.<br /><br />https://www.dailykos.com/story/2015/02/25/1366806/-What-happens-when-you-tax-the-rich-and-raise-the-minimum-wage-Meet-one-of-USA-s-best-economiesBud Meyershttps://www.blogger.com/profile/02065020063363023395noreply@blogger.comtag:blogger.com,1999:blog-7895164153505105997.post-64331779154507076612015-06-08T18:02:32.365-07:002015-06-08T18:02:32.365-07:00I have to chime in here with regard to GE and thei...I have to chime in here with regard to GE and their corporate headquarters in Connecticut. I live 30 minutes from GE's headquarters and I have to add that GE abandoned Connecticut decades ago. Please see this link: http://www.ctpost.com/local/article/Brick-by-brick-massive-GE-plant-is-3357552.php<br /><br />From what I've read they have perhaps 800 employees left in Connecticut. Most of those jobs are most likely corporate attorneys that handle taxes and GE's financial structure amongst their many divisions.<br /><br />That being said they, along with Aetna insurance have the gall that being asked to pay a bit more towards the infrastructure that keeps their CT employees (what's left of them) able to commute to their jobs is just to much to ask.<br /><br />The numbers GE employs in CT has dropped precipitously from decades past when they actually hired blue collar workers at a living wage.<br /><br />I'm so sick of these psychopathic corporations complaining about being asked to pay any more towards the commons that I say don't let the door hit them in the ass. THier employment impact on Connecticut is now close to negligible. That goes for Aetna the insurance giant headquarted in CT that has outsourced the majority of it's middle class jobs to India. FUCK THEM... GO GET LOST <br /><br />Most middle class Connecticut residents have been force to move on without you parasitic scumbags.<br /><br />Connecticut is one of the most unequal states in the union due to rebpulikkkan economic policies established at the federal level. allenhttps://www.blogger.com/profile/06840237717017411534noreply@blogger.comtag:blogger.com,1999:blog-7895164153505105997.post-55165887909133949342015-06-08T13:13:14.225-07:002015-06-08T13:13:14.225-07:00New York Times (June 2015)
While some states led...New York Times (June 2015) <br /><br />While some states led by Democrats are having budget problems too, there are far more states where Republicans control both the legislature and the governor’s office: 23, compared with 7 states controlled by Democrats. Some of the bitterest budget fights this year pit conservative Republicans against centrist Republicans over how to cut spending or raise taxes. Longtime bipartisan neglect of pension obligations has caught up with lawmakers in Illinois, New Jersey and Pennsylvania, and deep tax cuts in Republican-dominated states like Kansas, Louisiana and Wisconsin have contributed to budget shortfalls as economic growth has fallen short of projections. A lot of governors have cut their taxes with the hopes that that would bring increased economic activity and they could postpone painful decisions about spending reductions. But those increases in economic activity haven’t come to pass.<br /><br />http://www.nytimes.com/2015/06/08/us/states-confront-wide-budget-gaps-even-after-years-of-recovery.html?partner=rss&emc=rss<br /><br />In Minnesota, the Republican-controlled House and the Democratic Gov. Mark Dayton have been unable to agree on a budget despite a surplus of $1.9 billion — but recently the parties have come to a tentative deal. Gov. Mark Dayton said Minnesota's surplus (which he credited to the state’s well-performing economy) should be used to invest in education and the state’s infrastructure as a way to spur future economic development. But Republican legislators are calling for much of the surplus to be returned to taxpayers.<br /><br />http://minnesota.cbslocal.com/2015/06/01/state-workers-get-layoff-notices-as-shutdown-threat-looms/<br /><br />http://www.startribune.com/projected-minnesota-budget-surplus-swells-to-1-9-billion/294370441/Bud Meyershttps://www.blogger.com/profile/02065020063363023395noreply@blogger.com