Minnesotans urge higher state taxes for the wealthy to fund various initiatives.
(Note: MN has high taxes already - which is why they have a well-educated populace (although recent education cuts may change that) and are in 1st or 2nd place for percent of population with health insurance (some state subsidized))
Myron P. Medcalf, Star Tribune
Last update: June 21, 2006 – 10:31 PM
http://www.startribune.com/462/story/507891.htmlMemo to Minnesota: Some of our wealthiest residents think state government needs more money and say they're willing to pay the bill.
More than 200 wealthy Minnesotans signed a full-page ad that appears in the Star Tribune today asking the state to raise $2 billion for various initiatives by increasing the state's tax burden for high-salary earners.
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The new money should be used to improve educational opportunities, provide affordable health care and fund transportation needs, Kramer said. His group has argued for several years that the state's wealthiest residents should pay higher taxes to fund needed government programs.
Business leaders Jim Pohlad of Marquette Financial Company, Richard McFarland, retired CEO of Dain Rauscher, and Lee Lynch, former CEO of Carmichael Lynch, were also key contributors to the current proposal that would make those earning more than $275,000 pay the state an additional 2 cents in taxes for every dollar earned. That would be an additional $6,000 in taxes for someone earning $300,000.
State taxes for anyone making less than $45,000 would not increase and the rates would vary for everyone in between. Kramer said he hopes the ad will create public interest and discussion, perhaps leading to legislative action. He also acknowledged that even if the tax increase was approved, it would take "some faith in government" to trust that the money would be appropriated according to the group's requests.
http://www.startribune.com/462/story/507891.html