For years, Republicans have told us that if we just cut taxes -- mostly for the wealthy -- the economy will grow and everyone will benefit. We tried it their way and it led to the mess we're still trying to work our way out of now. Just as in the 1920's the Republican "trickle down" economic policies have failed us, yet they continue to only promise more of the same.
Republicans in St. Paul want us to be worried about holding the line on taxes for the wealthiest Minnesotans while ignoring the fact that property taxes went up nearly $4 billion (83 percent) from 2002-2012, including a $370 million increase this year -- mostly due to the elimination of the Homestead Credit. Property taxes are the single biggest tax in Minnesota, and are a tremendous burden for seniors, families, folks on fixed incomes, and local businesses.
We need comprehensive tax reform to make our tax system simpler and fairer, while also making Minnesota more competitive and prosperous. We must lower property taxes for middle-class families and seniors, while also providing our local communities with the funding they need to keep essential services like police and fire.
By restoring tax fairness in both income and real property taxes and solving our structural deficit in a balanced way, we can stop lurching from budget deficit to budget deficit with one-time fixes, and begin working to rebuild Minnesota's future.