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State, local partnership key to fixing finance woes.
The STATE needs to arrange for short term borrowing? Sounds pretty dangerous seeing that borrowing on the personal level and the corporate world (encouraged by our federal government) got Us into this financial mess. How about cutting back on all of the "non-profit" foundations that are sucking money from the budget first? How about rolling back UN-funded state mandates? Most of these "policies" bankrupt small town budgets yet make special interests "feel good" about what they have accomplished yet refuse to acknowledge the final outcome. Then they whine about being "underfunded". Tax payers with the ability to move to more fiscally responsible states will finally wake up and flee once they realized that they are getting fleeced. Then where will Minnesota be? Begging the federal government for more? Or, will they just arrange more "short term debt"??
At least they really seem to have thought it through (the bit about not cutting funding to small cities and counties seems particularly wise). I may not agree with all of it, but at least it seems their heads/hearts are in the right place. Gotta give them credit for trying.
I remember in about 1985 when I owned a small house in northern minnesota I payed about 60 to about 100 bucks a year in property taxes.No problem.Now its probably around 1000 bucks a year.HMMMM problem.1000 percent increase?Where did it all go?Did wages go up 1000% sense then?Maybe for some it did but not for all.Maybe government spending went up too much?Maybe government will have to shrink like our jobs have.After all government wanted free trade didn't they?Outsourcing jobs = less tax revenue?Something to think about.Maybe they should have thought sooner then they did perhaps?They keep taxing and more foreclosed homes will happen.
If the City of Little Canada is typical of local governments, local governments would be improved by some belt tightening. The City of Little Canada bothers its 10,000 residents with a dreadful and poorly written newsletter, makes silly and unneeded "road improvements", etc. Instead of the newsletter, the City should just put BRIEF notices in the local suburban newspaper. Instead of unneeded road improvements, the City should value our natural environment more. Our local government seems to embody the "Poverty of Affluence"--more and more stuff and less and less quality.
is due to Pawlenty's willful REFUSAL to tax Minnesota's wealthy citizens at the same (or preferably, higher) rates as the middle and lower classes? We as a state are paying the price for his and his supporters' blind adherence to the failed no-tax policy of government-hating guru Grover Norquist. California is in the same boat -- their legislature somehow got a bill passed that would raise state income taxes on those who have benefited from the Bush years, but Gov. Schwartzenegger killed it. (Dept of Revenue's 2007 Tax Incidence Report: $17-23,000/year were taxed at a rate of 10.5%; $47-105,000/year at 12.3%; and those making $350,000 or more at $9.6%. Fair? Hardly. Lost revenue? Billions.)
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