Reports from organizations like CNBC to Forbes are in consensus: thanks to Governor Mark Dayton’s progressive policies, Minnesota is on a positive path toward a future where the economy works better for everyone.
What could change that? Donald Trump and Republican trickle-down economics.
Last week, Trump outlined his economic policy plans in a speech in Detroit: a return to the trickle-down economics that work for the wealthy at the expense of everyone else.
The biggest piece of Trump’s tax cut pie would go to the rich and corporations. These cuts could cost the economy up to $9.5 trillion over 10 years.
What’s worse, Trump’s plan to default on the national debt would also have catastrophic consequences, including a spike in interest rates that would lead to a massive wave of unemployment.
For Minnesota, this could mean almost 61,000 jobs lost and home values plummeting by as much as $75,000.
Last winter, Minnesota Republicans refused to help workers when they delayed extending benefits for laid off miners on the Iron Range. Don’t forget they also proposed billions in tax giveaways to the owners of the Mall of America and corporations instead of making needed investments in our schools, roads and bridges, and communities.
Minnesota can’t afford to go backward toward an economy that overwhelmingly benefits the rich and corporations instead of working families. We’ve made progress toward an economy that works better for everyone, but we need to continue working toward a better future for all Minnesotans, not just the wealthy.