July 26, 2006
Join the Discussion
Our Invest for Real Prosperity strategy continues to attract critiques. Some of it is balanced.
See what the Citizen League's Sean Kershaw posts on his blog (positive here, critical here, and both here.)
Then there's Sarah Janecek’s distorted view of “How the Growth & Justice tax increase would hit singles,” where she fastens on a single point about taxes and bolsters her view with mistaken assumptions that yield erroneous math.
For starters, she claims many single-person Minnesota households make between $45,000 and $75,000 a year. She's not technically wrong, because "many" is an imprecise word. However, since 80% of singles earn under $50,000 annual adjusted gross income, her "many" may be a lot smaller than your "many."
That's also why we feel confident that more than half of single filers would owe no additional income tax under the proposal.
Worse, she claims our proposal would raise the rate on the lowest income tax bracket. It does not. The rate stays at 5.35%. That's why almost half of all Minnesotans see no income tax increase under the proposal. The rest of her figures are wrong as well.
Most important, she ignores the real point of the proposal: How wise state investment in people and places can build economic capacity. If you want to join informed discussion about real prosperity, comment here and over at Sean's blog.
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A minor expansion on the point about how many are affected:
13% of single Minnesota taxpayers earn between $50k and $75k. So that means "many" is 13% of Minnesota singles plus how ever many earn between $45k and $50k.
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13% of single Minnesota taxpayers earn between $50k and $75k. So that means "many" is 13% of Minnesota singles plus how ever many earn between $45k and $50k.
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