Archive | March, 2011

MN employment

According to a headline in todays Star Trib, 125 MN businesses received govt money to create jobs, but failed to create the expected MN employment. Just a quick rundown of the MN empolyment numbers: – over a five year period (’04-’09) 650 deals that gave companies tax breaks, grants or low interest loans. 125 of those companies fell short of delivering the expected jobs.

The conclusion the author seems to come to is that the results show the limitations of government programs to spur business and jobs – and he throws in a “economists say” to make it all so authentic.  (Not sure which economists say this as he doesnt provide any details).

But I think a clue as to what may account for these limitations is found further on in the article.

“Like Minnesota, most states have no policy on how best to spend economic development dollars” … “It’s frighteningly common, in fact” and the telling quote… “It often amounts to political pork being doled out on a geographic or political basis rather than on a strategic basis.”

And that to me says it all – it is not so much a demonstration of the limitations of government to help spur MN employment, as it is limitaions of BAD government. If across these great United States we could get our leaders to reduce the influence of that Political Pork being doled out on that Political Basis, I think our governments would surely be more efficient and more of the citizens would benifit.

Regressive tax

According to Wikipidia: “A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases”.

Well apparently not only is there not an equatable, equal tax burden placed on the citizens of Minnesota. Not only do the wealthy of this state (as is the case thoughout most of this Country) NOT pay an equal tax rate as the middle and poor classes. They pay a SMALLER rate.

A statewide study is showing that the hardest hit by Minnesota’s tax laws are the state’s lower and middle income residents.

It is even more regressive than 10 years ago!

For a prime example: the first 90% of Minnesota tax payers pay an average of 12.3% of their income towards local and state taxes for the year “08. But the top 10% of wage earners (households) making more than 130,000/year pay on average 10.3%.

What is wrong with this picture? In a system whereby most people’s income has gone down or remained stagnant for some time now – while the rich have gotten richer and richer – the State and local tax burden is 2% LESS for these people??

How do we let this happen?

LOL!!

After an entire month of investigating whether or not there were any abuses in the mortgage industry prior to the financial crises – the Federal Reserve found absolutely No wrongful foreclosures! Well I feel better now. The Fed said no abusive mortgage practices took place – so that should stop all those liberal whiners, eh?

No wrongful foreclosures

No wonder our elected (and unelected) officials have so little credibility.


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