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Article: Income taxes; This isn't the year for a cut.(NEWS)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- March 10, 2001
CopyrightCOPYRIGHT 2001 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Gov. Jesse Ventura moved in the right direction last week when he scaled back his proposed income tax cut, in response to the first forecast of smaller state revenues in nine years. But he did not go far enough. He should have abandoned the cut completely.
On several grounds it was a mistake for Ventura to add a big income tax cut - now just under $900 million over the next two years - to his legislative recommendations this year.
By reaching for both lower income taxes and major property tax reform, Ventura grabbed every available surplus dollar, and then some, for lower taxes. That left him with very little cash to invest in state needs. He crafted a ...