March House DFL tax proposal is more government nonsense
Posted by David AndersonApril 14, 2009 at 11:40 pm
To start with lets use a few of the absurd examples of DFL fuzzy math. In the analysis done on the DFL tax reshuffle in March the following example was used:
“The mortgage credit would equal 7 percent of eligible mortgage interest up to $420. For example, a family with $50,000 in income that pays $10,000 in mortgage interest would receive a $420 credit. Under current law, Lenczewski said the deduction would be $131.” Is Lenczewski smoking something? Does she think that is a real world example - a family making $50,000 is going to be paying $10,000 in mortgage interest? Hate to see what the P&I is then. Then there is the elimination of the K-12 education and health insurance credits just to name a few of the examples to produce further shifts of redistribution down to those that pay no net taxes to begin with.
On the corporate side; businesses would see the removal of the foreign royalty subtraction or the research-and-development credit. Elimination of JOBZ and biotech zones which I am not a big fan of anyway. This is all before the DFL propose their tax hikes. Hold on to your wallets taxpayers, the case to drain your already light wallet is coming to a tax increase proposal near you. Its back to typical class envy and warfare and promising to give some more while taking a whole lot more from someone else.
But the DFL have made promises and more promises of spending they can not keep without increasing revenue. They keep telling everybody they will raise taxes on everybody but you ….to get your vote then increase your taxes and say they had no choice. Remember the increase in metro sales tax? Remember the billions in tax and fees raised all in the name of transit (oops I meant transportation, but then I would be lying)? Or how about increasing the sales tax temporarily (like 25 years is temporary) for water, conservation, arts…etc? And boy don’t even think about using that revenue stream or those lobbyists will have your head like somehow that is their tax dollars not yours. So like expected we have seen the House and Senate DFL propose over $3 billion in tax increases and $2 billion respectively and that does not count the out years where more are proposed. Can we afford to raise taxes when your neighbors, family and friends are already losing their jobs, their homes and having a hard time making ends meet?
So getting back to the House DFL tax plan, Lenczewski said that beneficiaries under her plan will compete with others for a piece of the state budget instead of getting special tax treatment. So instead of making this a business decision that all can benefit from she is creating a government handout that will lead to more lobbying and government picking winners and losers. Just what we need in Minnesota.


