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A Billionaire Governor Taxed the Rich, Increased the Minimum Wage Created One Of The Best State Economies An Debunked Trickle Down Economics! | Urban Intellectuals

A Billionaire Governor Taxed the Rich, Increased the Minimum Wage Created One Of The Best State Economies An Debunked Trickle Down Economics!

by | Feb 2, 2017 | News, Politics News | 0 comments

The title of this post sounds like some left wing propaganda…. Some dude upped tax, raised minimum wage and created over 100,000 more jobs, funnelled much more cash into education and pushed more of his residents into the higher tax bracket! And this isn’t an unforgotten corner of the USA, this is Minnesota where Mark Dayton, heir to the the Target fortune, took office in 2011.

He arrived in office with a $6.2 billion budget deficit and a 7 percent unemployment rate from Republican Tim Pawlenty.Pawlenty had pledged to be Minnesota’s first true fiscally-conservative governor in modern history. He never raised taxes and only brought 6,200 new jobs to the State during his 7 year stint.

Just as a quick run over of what Dayton has done, in just 4 years he has.

  • Raised the state income tax from 7.85 to 9.85 percent on individuals earning over $150,000, and on joint filing couples earning over $250,000
  • This has led to a tax increase of $2.1 billion
  • He raised Minnesota’s minimum wage, which will reach $9.50 per hour by 2018
  • He passed a state law guaranteeing equal pay for women
  • His actions added 172,000 new jobs to Minnesota’s economy
  • Dropped unemployment to 3.6 percent on the last 2012-2013 census count
  • Created the 5th fastest growing economy in the US
  • Had 6,230 more Minnesotans filing in the top income tax bracket in 2013
  • Created a $1 billion budget surplus
  • Promised 1/3rd of the $1 billion to education

Can anyone argue with these numbers? If so, I would love to see it!

Do you have any thoughts on this?

Read more details in the Huff.

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