Mark Dayton Proposes 'Millionaire Tax'(Minnesota)

WCCO.com ^ | Apr 27, 2010 | Pat Kessler

[johnandrhonda]

All the Minnesota millionaires have been looking to move someplace warmer anyway.

[Son House]

higher income tax on the state's highest income earners and said the money should be used to ease the budget crunch at local schools.

How about Parents take responsibility to "ease the budget crunch at local schools"? Parents should plan to have their children educated and not rely on the state, especially given the state's "descent to the bottom", as Dayton calls it

[FreeAtlanta]

I propose taking 95% of all Millionaire and Billionaire’s wealth that supported Democrats starting with George Soros.

[meyer]

How many of those 8,400 folks averaging $1.2 million actually pull down that much on an annual basis?

I'd bet that a lot of them are small business owners, operating as sole proprieterships.

[piytar]

Oh, and in case anyone here knows any of those high earners, esp the 30 making more than $26M: Let ‘em know Texas would welcome them with open arms (unless they are libs), and we have no state income tax!

[meyer]

How about Parents take responsibility to "ease the budget crunch at local schools"?

Exactly. As far as I'm concerned, parents and ONLY parents ought to be paying for the education of their children anyway. I have no kids in school. Why the heck am I paying taxes to support them?

[Goreknowshowtocheat]

You pay so they are not out on the street mugging you and burglarizing your house. Plus, good schools mean higher sales value.

[Goreknowshowtocheat]

The dumb people of MN will fall for it. Millionaires from there will be Longhorn fans soon.

[Son House]

Just to elaborate on “opportunity cost”, if one votes Democrat, expect higher unemployment, higher taxes, 401k value loss, and a bad economy, than lower your expectations.

[meyer]

You pay so they are not out on the street mugging you and burglarizing your house. Plus, good schools mean higher sales value.

I've got a permanent solution for muggers and burglars, if they try to victimize me or my family.

As for good schools meaning higher property values (I assume you mean property values), consider this - in Ohio, the city of Cleveland spends more money per pupil than just about any other system in the state. But the property values in Cleveland are among the lowest in the state. Not to mention the graduation rate in that city's schools, and the level of education achieved by those that do graduate. Obviously, the amount of money spent on schools doesn't correlate well with property values or the value of education.

I would venture to say that people that tend to value thier childrens' education also tend to live in nicer neighborhoods. Meaning, it isn't the school system that's causing higher sales values - it's people themselves that do so by creating a safe, well-kept neighborhood full of well-behaved smart kids.

[MNnice]

Dayton’s your typical rich liberal who didn’t earn his wealth. His father and uncles built the department store empire that pays him a handsome trust income, yet he’s never worked a day in the business. Mostly because of his mental disorder he wouldn’t be able to hold a regular job.

[political1]

Good let each state manage their own economies. Although I would say if they try this in Minnesota. We would welcome all their millionaires here in Alabama.

[Myrddin]

I'm pretty sure what is meant by "millionaire" in this context is an annual earned income exceeding a million dollars. Lots of folks achieve a net worth over a million. That was commonplace in southern CA when real estate values skyrocketed. A few folks actually sold in time to realize the appreciation. The house where I grew up was purchased for $19,000 in 1962 and sold for $512,000 in Oct 2005.

[piytar]

Hey, I’m not a Longhorn’s fan! Go Buckeyes! And Texas Tech!!! /LOL

[cantbetooconservative]

how about 100% until they balance the budget by CUTTING SPENDING!

[Colonel_Flagg]

I’m sure Joe Mauer will be thrilled.