consultants are sandburs

Monday, April 01, 2013

MINNESOTA PERSONAL INCOME TAXATION - Separating fact from fiction, "Minnesota has a three-tiered income tax system, and Dayton’s plan would create a fourth tier for these so-called high earners. That means that every dollar of taxable income more than $150,000, or $250,000 for married filers, would be taxed at the higher rate. So for a married couple with a taxable income of $250,001, they would pay the higher tax rate only on the $1."

So explains Strib, here.

Moreover the overarching burden on that extra dollar of income would be - sound the trumpets - two cents. Per Daily Planet, here, where Strib reports of bracket cutoff numbers, and Daily Plantet adds the rate info.

BFD. Big thing for all those Republicans to bleat about. Droves of job creators falling over one another to leave for the North Dakota border. My hope would be that the impacted Republicans under the proposal, now in the legislature, would be first to leave. Watch the doorknob, Senator ...

And Senator, put away your crocodile-tears crying towel, and stow your howl about "small business." Strib honestly reports -

Some critics are concerned that the tax hikes will hit middle-income Minnesotans who run their businesses through their personal income taxes. They argue that those taxpayers appear to have artificially high incomes, but are merely struggling businesspeople barely scraping by.

The Revenue Department says that of the 353,000 tax returns in 2010 from those who reported income from their businesses, 94 percent would have experienced no income tax increase.

About 21,000 of those tax filers would have been required to pay the higher rate.

94% will struggle no more, no less, and those wealthier will get that two cents on the dollar horrific imposition, Fargo, Minot and Bismark calling, calling ...

Can you imagine the herds of restaurant owners or janitorial services or security guard business operators storming the border?

And they - the Republicans - are holding sessions upon sessions over what to do about losing the election so badly. They might try mixing a bit of truth in their rhetoric. It might go a long way.

Oh, wait. Gasp! Two gay people over there are holding hands, and granny without a drivers license - she voted last time. Somebody's daughter took an RU-486 pill this morning, with the very fabric of America thus being rent asunder. Only fiscal conservative Paul Ryan on a white steed can ride to the rescue and keep us from tumbling over the yawning precipice. Or over the looming precipice, into the yawning canyon of national despair. I never could keep those GOP homilies straight. But I am working on it. Ryan has the answers and can help:

With Ryan's help, you, in his district, can get the help you deserve - after all, Ryan's a Republican, isn't he?

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