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Interesting post about Minnesota that raised taxes on rich people, increased public spending, and created shared prosperity for the people of Minnesota.
Minnesotans have a big heart and have a social service safety net that attracts the less fortunate as well as those seeking their fortune.
"The results of the experiment continue to surprise and delight: unemployment is down to 3.7%, private sector earnings are up 1.5% to $891/week, 47,000 new jobs were added to the economy in the past year, and the state just declared a $1.8B budget surplus, even as Forbes ranked it 9th in its table of best states for business.
"But this is all the more remarkable when compared the fate of the Republican-run, austerity-fuelled neighboring states, where a succession of GOP governors and state houses have slashed taxes on business and the wealthy, eliminated social spending, and attacked trade unionism. They are running deficits, the people there are earning less than their Minnesotan cousins, they're adding fewer (and worse) jobs, and posting less growth."
Similarly, Oklahoma slashed taxes in order to attract business and what did that get them?
To paraphrase: a Republican controlled legislature that gave out deep tax cut is wrecking the state. Oaklahoma can't afford to pay teachers, state workers were told to only work four days a week, schools also are only open four days a week, Highway patrol were told to not fill up their gas tanks, some bureaucracies are completely shut down like those who revoke drunk driving licenses. Teachers are fleeing the state, and schools would give teaching licenses to anyone with a passing knowledge just so classes can stay open. One principal had to emergency certify his secretary to teach a class.
Healthcare cost in Oaklahoma is through the roof. Some state workers actually have higher insurance cost than their pay, which means they pay the government to work there.
But, you know. Blue states have high housing cost. So there!
.
No some state workers do not have higher insurance than their pay. If they did, they couldnt eat or pay rent or afford to get to work.
You never mentioned anything about spending either. It's always about spending. Why give creedence to your posts on economics when you post garbage like this?
To paraphrase: a Republican controlled legislature that gave out deep tax cut is wrecking the state. Oaklahoma can't afford to pay teachers, state workers were told to only work four days a week, schools also are only open four days a week, Highway patrol were told to not fill up their gas tanks, some bureaucracies are completely shut down like those who revoke drunk driving licenses. Teachers are fleeing the state, and schools would give teaching licenses to anyone with a passing knowledge just so classes can stay open. One principal had to emergency certify his secretary to teach a class.
Healthcare cost in Oaklahoma is through the roof. Some state workers actually have higher insurance cost than their pay, which means they pay the government to work there.
But, you know. Blue states have high housing cost. So there!
.
So you are quoting a liberal MSM article from almost a year ago that has been previously mentioned. Yes tax revenues fell in 2016 because of low oil prices. Things rebounded nicely in 2017. When you post year old stories just to mislead people you miss the real story. Its not a red blue issue but a state of which the oil industry produces a big chuck of the tax revenue.
How about a Oklahoma publication more recently showing a 12% increase in tax revenues to the state year to year:
This marks the eighth consecutive month that state tax revenues have experienced year-over-year growth, he said.
“Gross receipts to the treasury, insomuch as they indicate general economic activity, paint an encouraging picture as we enter the holiday period,” Miller said. “Sales tax collections, a measure of consumer confidence, are up by double-digits and the bulk of holiday shopping, including Black Friday, is not yet measured with this report.”
I spent several months from late spring until the fall. First of all you can't spell the name of the state. Hard to take someone seriously who does not even understand spell check. Second I own investment property there as well as a business. I did not see or hear of anything like this where I was and I traveled extensively around the state. Oklahoma is far from destroyed. I beautiful state with very nice friendly people. And the town I have property in is doing great. Lots of new businesses going up including a new Holiday Inn. Oil services contractors have the Best Western filled to the max daily.
I have friends with kids in school in OKC. The schools are fine. They are happy with everything there and say things are much better there then when they lived in Phoenix a few years back.
My only concern is the stronger economy will make real estate go up and make in more expensive for me to buy property this summer. But I am happy for the people that things are going well.
Interesting post about Minnesota that raised taxes on rich people, increased public spending, and created shared prosperity for the people of Minnesota.
Minnesotans have a big heart and have a social service safety net that attracts the less fortunate as well as those seeking their fortune.
"The results of the experiment continue to surprise and delight: unemployment is down to 3.7%, private sector earnings are up 1.5% to $891/week, 47,000 new jobs were added to the economy in the past year, and the state just declared a $1.8B budget surplus, even as Forbes ranked it 9th in its table of best states for business.
"But this is all the more remarkable when compared the fate of the Republican-run, austerity-fuelled neighboring states, where a succession of GOP governors and state houses have slashed taxes on business and the wealthy, eliminated social spending, and attacked trade unionism. They are running deficits, the people there are earning less than their Minnesotan cousins, they're adding fewer (and worse) jobs, and posting less growth."
Similarly, Oklahoma slashed taxes in order to attract business and what did that get them?
Food for thought, eh?
Show proof neighboring states are practicing austerity? When you make things up, you loose credibility.
from your link
An improved employment outlook and the second lowest business costs (labor, energy and taxes) have propelled North Carolina to first in our annual ranking, a spot previously only attained by Utah and Virginia since we launched the list in 2006.
Bolded for what is important.
Texas, which is right with Minnesota, is highly ranked for the same reason.
Last edited by Loveshiscountry; 02-07-2018 at 07:01 AM..
Just like Detroit, MI...Flint, MI...Trenton, NJ...Camden, NJ...Newark, NJ...St. Louis, MO,...Kansas City, MO,... Chicago, IL...Oakland, Ca, ...Baltimore, MD....etc.
You realize all those places are much more successful than OK, right? You wanna compare economic or health data somewhere like Chicagoland or Bay Area or NYC area with OK? I mean, seriously?
51% of Oklahoma school funding is sourced from the state. 11% of the state economy is oil.
Declining oil revenues and a .25 cut in state taxes has required the state to cut school funding. The state spends $1 billion less on education than it did a decade ago. The state imposes a top tax rate of 5.25% on individual AGI greater than $8,701.
It has been necessary to make major cuts in AP plasses, eliminate the cap on class size and in some districts, cut the school week.
Dallas is poaching teachers.
The people elect state legislators. If the people want more funding for schools they have the power to elect legislators who will increase taxes to fund them.
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