For Minnesota taxpayers, a double fiscal cliff looms

  • Article by: KEVIN DIAZ , Star Tribune
  • Updated: November 16, 2012 - 8:55 AM

Federal tax increases could trigger higher state tax liabilities.

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dflleftNov. 15, 12 9:50 PM

WE SHOULD ALL BE eager to pay more in both sales taxes and income taxes ....remember that although the "cost"of liberal left theory is quite high but the government is much more efficient at seeing the money is spent wisely.

gofigerNov. 15, 12 9:50 PM

Please let it happen lets reach armageddon. Notice the headline says "could" happen. Then they follow it up with threats to take things away from people and force those that don't pay taxes, to pay taxes. Let it all expire and force the cuts. If we can't do the agreed upon cuts, we will never make any cuts. Face it, most people have become reliant on government and don't know how to take care of themselves anymore. Good luck.

wedidntknowNov. 15, 1210:13 PM

Awesome! Really great decision with your Obama votes. We all move FORWRD! Thanks!

duckhunter97Nov. 15, 1210:23 PM

But the voters continue to vote in these people....No experience in business, private sector or have worked a honest day pay in their entire life.....

butterflyr02Nov. 15, 1210:56 PM

Some people felt the pain during the last recession brought on by the collapse of the housing market. However, many others, especially government and union workers, were shielded from the pain due to the government protecting them from the pain by borrowing and spending. I wish EVERYONE could have felt the pain during that recession, and the market would have been allowed to correct itself without government intervention, so we would not have to go through it all over again.

ddellwoNov. 15, 1211:06 PM

The more I read about the Fiscal Cliff, the more I think we should go over it so people wake-up from the fantasy they have been living that the government is actually giving them stuff for free!!! Believe me -- you and the country as a whole will be paying dearly for many years for all the "free stuff" the Democrats have been doling out to their niche constituents!!!!

highlandguyNov. 15, 1211:27 PM

it will be fascinating to watch the national Democrats begin to twist the expiration of the Bush Tax Cuts (formerly known as tax cuts for the rich) as a huge tax increase on low and middle income households. The mindless Obots will lap it up, as usual.

erikj3Nov. 16, 1212:40 AM

Repubs brought this on all of us with their obstructionism. The Bush tax cuts? They were MEANT to expire, because even when they were passed, everyone knew they would explode the deficit (which no one cares about unless Dems are in charge). The best thing that could happen is for the tax cuts to expire and then be put back in place for income under $250,000, pass the Buffett rule, and cut military spending.

sek2undrstndNov. 16, 12 1:12 AM

By all means let's follow the advice of the Congressional Republicans and drastically cut spending while giving tax cuts to millionaires and billionaires. The same policy is working so well in England that it's leading them into a double-dip recession. Their GDP is shrinking, their unemployment is increasing, their deficit and debt are growing and their economy is contracting. What we need is modest spending cuts and an increase in taxes on the most fortunate among us.

concernedduhNov. 16, 12 1:40 AM

Additional social security will be deducted from paychecks too. The employee contribution is 6.2%, but there was a temporary payroll tax cut for tax years 2011 and 2012 reduced the employee portion for Social Security by 2 percent. There should be a short term increase in state taxes collected as investors dump stock and take profits this year, before Federal tax rates go up.


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