[speedgibson] Speed Gibson: A Self-Negating Prophecy

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Posted by Speed Gibson:
A Self-Negating Prophecy
http://speedgibson.powerblogs.com/posts/1241794284.shtml


   On [1]True North this morning, the [2]Chief reports on the
   "compromise" tax increase that a includes the new fourth income tax
   bracket. It's big, 9 percent for joint returns over $ 250,000,
   projected to raise over $ 500 million.
   The bad news? It's a job-killer, of course, and worse than usual. It's
   retroactive to January 1st to maximum the take from those who will now
   leave or move their businesses all the earlier in response.
   The good news as Wesley Mouch would say, it's only to address the
   temporary national conditions. It will blink off "in 2014 if the
   February, 2013 forecast reflects a $500 million balance at end of FY
   2013." Sure it will. Blink this!
   It will never happen. Barring a welcome, needed resurgence in GOP
   numbers if not outright control, the 2011-2012 Legislature will do
   everything possible to be sure such a forecast never happens. It's
   quite unlikely regardless, but the DFL is not going to let hundreds of
   millions of dollars slip through their fingers to please this small
   number of voters. If it's close, build another light rail line.
   It truly bothers me that the DFL thinks that Minnesotans of any
   political stripe would believe a word of this. The media? Let's wait
   and see.

References

   1. http://www.looktruenorth.com/
   2. http://www.looktruenorth.com/limited-government/taxation/8104-9921-million-tax-increase-over-fy-2010-11.html