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http://www.huffingtonpost.com/carl-gibson/mark-dayton-minnesota-economy_b_6737786.html
I read this article and wanted to get y'all's opinion. Basically the article states that by raising taxes and the minimum wage (which doesn't take effect for 3 years) Dayton has created a surplus in Minnesota. I'd like to hear the opinions of some with more expertise in economics than I have.
i don't have any expertise in economics and didn't read the article, but it seems like it would make sense that you would see a surplus shortly after raising taxes. can't imagine what a minimum wage law that doesn't take effect for another 3 years would have to do with it.
The liberals are touting this as a case study in why raising taxes and the minimum wage is a good thing. They fail to mention the part about the minimum wage not being fully implemented for 3 more years.
They also tout job growth. It would be beneficial to see what areas the job growth is coming from.
Raising taxes does not promote job growth. Spending tax dollars can stimulate the economy depending on where the money is spent. If Minnesota is so great, let's get the bus train from the Mississippi delta poverty zone heading that way.
If raising taxes and raising the minimum wage creates jobs, why not just keep increasing the tax rate and the minimum wage? Imagine how many jobs a 90% tax rate and $1,000 minimum wage would create... and how much revenue the state government would generate (90% of all the wage income)! That doesn't make sense to me, but I suck at economics.
Raising minimum wage hurts people on a fixed income. The increase is just wheel spinning because prices will go up and be passed onto the consumer. I managed a Burger King for 7 years. Every time the minimum wage went up, the price of everything we sold went up on the same day!!
I wonder if a store owner has ever said, "So, I'm paying more in taxes and I'm paying more to the cashier....I'm going to go hire a second cashier just because of all this excess income!"
That just doesn't sound logical. There must be something else happening in Minnesota.
Minnysoda is a haven for libtards. Hope they all freeze to death while enjoying their global warming.
Oh, except Bob and Marisha, good friends of mine. Yep, they lean libtard but are otherwise decent folks. Have told them they can come to Louisiana and I'll help them get established in God's Country.
Raising minimum wage promotes inflation. The fact that anyone would try to live off of minimum wage is crazy stupid. Jobs that are minimum wage are for kids and old retired folks that have another income. It is not designed nor should it be to feed an entire family. Its just a stepping stone to a better job. WE can't all come out of school making 100K. As for tax increase creating a surplus, well just wait until that next budget is planned and they will be right back where they started only saddled with more handout programs designed to get votes.
exactly!!!!Originally Posted by ksdawg
The problem IMHO with raising tax on the rich is under the current tax code they will always find a way not to pay it. Take GE for example. I would wager it's probably the same in Minn-ah-sodah.
I agree, but the last decade hasn't been great for the bolded part.
I would think most business owners would because that would probably mean they need more employees.
But liberals are saying raising taxes and paying employees more creates more business for the store owner. I don't think it works that way. I guess it could since people making minimum wage have a little more spending power now. But the government having a billion dollar surplus is a mistake and that money needs to be returned to the taxpayers, imo.
On taxes, there is a "goldilock" rate. It's not zero, but it's not 99% either. Minnesota may have found it for themselves.
Paying employees more could end up creating more business for themselves. It is a tenet of trickle-down economics. An employee gets paid more. Spends money somewhere. That somewhere has to higher more people. Those new people go back and spend money at the original employees store. Rinse and repeat.
I disagree about returning to taxpayers, at least in full. There are things the state is responsible for that they need to start spending money on, mainly infrastructure. That's second only to water, and that war is coming, too.
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