"Where Fillmore County News Comes First"
Wednesday, July 23rd, 2014
Volume ∞ Issue ∞
- 3:01:39, Jul 22nd 2014 - Don K. - My medical premium will go up significantly next year under Obama care. Thi ... [Read More]
- 8:44:09, Jul 20th 2014 - @ new resident - Wykoff has a summer softball league for youths ages 5-18 and they ha ... [Read More]
- 11:28:08, Jul 18th 2014 - Go kaase! - Tom I hope you get elected as sheriff! Although you have worked in roche ... [Read More]
- 3:14:00, Jul 18th 2014 - SV citizen - I have concern that there would be a conflict of interest with Kaase bei ... [Read More]
- 1:22:00, Jul 18th 2014 - Bear - Obama care isnt the answer. Sure Mr. Grehl some people in Minnesota have medi ... [Read More]
- 9:13:08, Jul 18th 2014 - KingslandGrad95 - what?-even though smoking marijuana is illegal, unless the amount o ... [Read More]
- 6:52:38, Jul 17th 2014 - Kaase for Sheriff - First of all I think that both candidates have great ideas. But i ... [Read More]
- 4:13:24, Jul 16th 2014 - Two dogs - Why would Mr. Kaase want to take a pay cut of $30,000 dollar a year plus t ... [Read More]
- 9:57:55, Jul 16th 2014 - Kaase got my vote👍 - With this interview kaase got my vote! We need change in the ... [Read More]
- 6:54:19, Jul 16th 2014 - what? - The school on 1st ave pushes there snow onto the street. And NO ONE in harmon ... [Read More]
Wed, Jun 29th, 2011
Posted in State of Minnesota
Posted in State of Minnesota
ST.PAUL, Minn., June 28, 2011- Today, leaders of the National Federation of Independent Business, the state's largest business group in terms of entities with approximately 12,000 members statewide, held a press conference to oppose the large, destructive tax hike that Gov. Mark Dayton has proposed. NFIB strongly opposed the Dayton plan during the 2011 session and testified against it several times in House and Senate tax committees.
"Minnesota already has a high tax structure and the last thing we need to do is dramatically increase it," said Mike Hickey, state director for the National Federation of Independent Business. "The governor's proposal would make Minnesota even more uncompetitive than we already are."
"Governor Dayton's tax plan sends a very negative signal to successful entrepreneurs and investors in and out of our state who are considering investing here," said Hickey. The governor's tax plan would raise Minnesota's top rate to 10.95 percent from its current 7.85 percent-a 39-percent increase that would give Minnesota the second highest top income tax rate in the country, just a fraction behind Hawaii's and Oregon's which currently have an 11-percent top rate.
Hickey noted that if the increase was enacted, the top capital gains rate would also likely increase to 10.95 percent where applicable also sending a very negative signal to investors, especially out-of-state ones who might be considering opportunities in Minnesota. "From the out of state investor perspective, they could get stuck paying either one of these very high rates and it is a big negative." Hickey noted Minnesota investors would also feel the sting of the high capital gains rate which would creep up close to the federal rate of 15 percent.
If the governor's plan were enacted, 47 other states would have a lower top income tax rate and capital gains rate. Nine states don't tax income or capital gains at all. "Minnesota cannot afford to be this uncompetitive, and we strongly urge legislators in both parties to reject the governor's tax plan," implored Hickey.
"Minnesota has been running a structural deficit for 10 years now," said Hickey, "and the Legislature just increased state spending another 6 percent ($2 billion). In our view, that is enough. State government needs to learn to live within existing resources.
Hickey said NFIB members are the most income-tax-affected group in the state, because the vast majority of them pay their company's taxes on the individual income tax, since they are organized as Sub S, LLC, or sole proprietorships. "The Governor's tax plan sends a very peculiar message to small business: If you are successful in Minnesota and grow your business and expand your workforce-you are going to pay!"
NFIB is the nation's leading small business association, with offices in Washington, D.C. and all 50 state capitals. Founded in 1943 as a nonprofit, nonpartisan organization, NFIB gives small and independent business owners a voice in shaping the public policy issues that affect their business. NFIB's powerful network of grassroots activists send their views directly to state and federal lawmakers through our unique member-only ballot, thus playing a critical role in supporting America's free enterprise system. NFIB's mission is to promote and protect the right of our members to own, operate and grow their businesses. More information about NFIB is available online at www.NFIB.com/newsroom.
National Federation of Independent Business/Minnesota
380 Jackson St., Suite 780
St. Paul, MN 55101