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2 Years After Raising Taxes on the Rich, Here's the Hellscape Minnesota Has Become
http://mic.com/articles/111424/2-ye...h-here-s-what-happened-to-minnesota-s-economy
http://mic.com/articles/111424/2-ye...h-here-s-what-happened-to-minnesota-s-economy
In the last few years, Minnesota took a number of measures to make its taxation and wages more progressive. Mother Jones reports that Dayton targeted the top 2% with a tax raise — "one of the largest hikes in state history." Corporate taxes increased. The state income tax on the highest earners increased to 9.85% in 2013, making it the fourth highest in the nation, according to the Tax Foundation.
The state's minimum wage is set to increase to $9.50 by 2016, and last year Dayton signed a sweeping bill strengthening protections for women in the workplace and guaranteeing equal pay. Other progressive measures have included [...]
The critics who feared Dayton's campaign to have the top 2% pay their fair share would ruin growth and cause business interests to flee appear to have been crying wolf. Minnesota's labor market is healthy. Minnesota was ranked one of the fastest-growing economies in the country by the Bureau of Economic Analysis in 2013. Gallup found economic confidence in the state to be the highest in the nation.