"Where Fillmore County News Comes First"
Friday, August 22nd, 2014
Volume ∞ Issue ∞
- 10:32:36, Aug 22nd 2014 - Mad Mike - Doc, how do you get any truth or facts with the current set up that this ... [Read More]
- 9:31:25, Aug 22nd 2014 - KingslandGrad95 - doc, You mentioned that "Republicans want the truth, they just ... [Read More]
- 8:00:02, Aug 19th 2014 - doc - Republicans want the truth, they just don't like facts. ... [Read More]
- 7:58:04, Aug 19th 2014 - doc - Gas prices were $4.25 the last summer that GWB was in office. ... [Read More]
- 4:40:55, Aug 19th 2014 - dave - Gas prices were $1.79 a gallon when GWB left office ... [Read More]
- 9:08:48, Aug 19th 2014 - doc - What was the MN unemployment rate when GWB was in office? ... [Read More]
- 10:48:03, Aug 15th 2014 - Retired - A quick google search offers numerous ideas for community education. Knitt ... [Read More]
- 10:44:01, Aug 15th 2014 - tom - I believe that part of what made this country great was the ability to work to ... [Read More]
- 12:31:16, Aug 14th 2014 - Mad Mike - All you liberal's think a like. You read what you want to read and liste ... [Read More]
- 10:28:11, Aug 13th 2014 - Dale Eppen - Herb, I am so happy you like Obama Care. I also assume you like half a ... [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