A bit back, we suggested the best option would be to eliminate the 2013, twenty-five (25%) personal income tax increase to 9.85% and get rid of our estate tax. Then we put forth the thought to increase the estate tax exemption to not less than the federal estate tax exemption. Now we wish to elaborate Read More…
Estate/Inheritance Tax Comparisons, A Challenge to the Minnesota Legislature
A few days ago we ran a comparison of the neighboring states’ personal income taxes. Now, we’ll add estate taxes to the mix. The real solution, of course for Minnesota’s top standing in taxes, is to lop off the 2013 9.85% bracket and eliminate our estate tax. Here’s our 2021 data. Source: Tax Foundation/Bloomberg. State Read More…
Minnesota Individual Income Tax and the Neighboring States
We’d like to put some perspective on how our taxes in Minnesota compare/contrast to nearby states. First, we need to go back to 2013, when a one-party control of the state legislative process enacted a number of anti-business, anti-jobs taxes, and added a new personal income tax bracket that went up 25% from the previous Read More…
The Last Gentleman: Thomas Hughes and the End of the American Century
Now Available for Pre-Order!!! An amazing look at how a fellow Minnesotan, Thomas Hughes influenced and guided many historic events. I grew up with the author, Bruce L. R. Smith (my brother)… I am very proud of Bruce and this in-depth biography on how a Southern Minnesota gentleman had a significant impact on U.S. history. Read More…
Thoughts on the Dwindling Minnesota Budget “Surplus” & Some Straight Talk.
Will the DFL ever get it or don’t they care? Two themes came out of the recent announcement that the budget surplus was no longer $1.5B. One was that the economy was slowing and the other pointed to declining tax revenue collections. The two may well have some common threads, but let’s just look at Read More…
Fun Time in Minnesota…Levity at the Table.
What have we hatched now? Will it become a national crisis? Yes, we’re talking about THE COMB. It seems according to reports that a Minnesota political figure has extended the purpose of the comb to an eating utensil. This needs to be examined thoroughly from all angles. Immediately the PC factor comes into play. Since it Read More…
