Minnesota Network for Progressive Action


 
Politics Blogs - Blog Top Sites

Listed on BlogShares

 
site search

Site Meter
 
  Progressive Political Blog

Progressive Politics in Minnesota, the Nation, and the World

Exempt Small Business: - Game - Set - Match, Dayton!

Category: Mark Dayton
Posted: 05/27/11 13:48, Edited: 05/27/11 16:45

by Dave Mindeman

If there are still reasonable people in the Republican Party and if the GOP is being accurate in their rhetoric, then Governor Dayton has an idea which should be a solution to the budget impasse.

During a news conference at the St. Paul Downtown Airport, the DFL governor casually mentioned that he would consider exempting small businesses from his proposed new tax.

As I have mentioned on this blog previously, the GOP insistence that the Governor's tax on the wealthy would stymie the "job creators", is grossly overstated.

If Dayton were to exempt small business in his tax proposal, I believe that there would probably need to be an adjustment of about $100 to $150 million (approximately) in revenue. (Racino anyone?)

Note: This figure is based on the fact that less than 10% of small business uses pass through income that is subject to the proposed higher income tax bracket. The figure could be larger if some of the larger businesses are using pass through (which I doubt) or it could be even smaller since no figures have been put forward since Dayton's last compromise.

Pass through business income would now be exempt. The GOP no longer has any valid argument.

Game - Set - Match, Dayton.

Note: Dayton is not offering this officially. Only that he would listen to it, if proposed by the GOP. It is in their court.
comments (2) permalink
05/27/11 15:20
Most are already doing that if they have large enough incomes. They are crazy if they don't. It doesn't matter. They were never a big part of the higher bracket anyway. It is just the GOP excuse about "job creators" that started this.
 
So
05/27/11 14:48
So you think that maybe, just maybe these millionaires might spend $100 to create an LLC to not pay the higher tax rate? If he exempts small businesses you'd like 80 to 90% of the tax increase due to Sub S and tax avoidance. Duh.
 

Calendar

« September 2019 »
Mon Tue Wed Thu Fri Sat Sun
1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30


Latest posts


Archive

(one year)

Categories


Comments



Links


RSS Feeds

RSS 0.91
RSS 2.0

 
 
 
Powered by
Powered by SBlog
 
Copyright © Minnesota Network for Progressive Action. All rights reserved. Legal. Privacy Policy. Sitemap.