The Minnesota State House and Senate are currently debating various proposals to address the state’s deficit.
The contrast among the three approaches is stark and, set against a backdrop of an economy still gripped by a deep recession, could result in a three-way contest of wills
According to Minnesota 2020, middle income households in Minnesota (household income from ,000 to ,500) paid 12.3 cents of each dollar of income in state and local taxes, while the wealthiest one percent of households (household income above 7,900) paid only 8.9 cents. If nothing changes, taxes will become even less fair in 2011.
Now is the perfect time to fix this inequality.
Jeff Rosenberg over at MN Publius asks, "If not now, when?"
There are only two options for reducing a deficit — cutting spending and raising taxes. Both are harmful to Minnesotans. Rather than focusing all the pain on one group — those most impacted by spending cuts — doesn’t it make sense to compromise between spending cuts and tax increases? Everybody is going to have to make sacrifices to solve the budget crisis; unfortunately, the Republicans appear unwilling to face reality.
We can’t afford to ignore the long-term threats to our state’s prosperity using budget gimmicks and accounting shifts. Now is the time to build the foundation for a recovery that lasts, a recovery that doesn’t place Minnesota’s budget burden on those families that are struggling to make ends meet rather than ask those who can afford to pay more to share the pain.