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e-Update 7-30-2010
1. The Battle is on to Expand the Voice of Business in Minnesota Elections
2. Schools Receive Federal Dollars in Return for Firing Principals
3. City Plans to Spend Taxpayers Money to Move Historic Building
4. The Light Rail Budget – Zero Interest Business Loans
5. If This Is How They Spend Their Own Money, Just Imagine How They Will Waste Yours
6. 6 Months to Go to the Largest Tax Hike in History!
1. The Battle is on to Expand the Voice of Business in Minnesota Elections
The legal battle is on. And the Taxpayers League is standing up for Minnesota business. The Taxpayers League of Minnesota and other plaintiffs are seeking to strike down new disclosure rules regarding corporate spending on elections and to lift the fetters that still bar corporations from contributing directly to candidates. The lawsuit would open the door to more direct avenues for corporations to spend money on elections. Success in this lawsuit means that corporations will be free to give outside of the PAC structure. Perhaps with corporate speech extended, our corporate tax can be fought.
Click here to follow the story.
2. Schools Receive Federal Dollars in Return for Firing Principals
It costs $25 million to fire underperforming principles in the state of Minnesota. Despite the fact that education spending that is through the roof, nineteen of Minnesota's schools will receive nearly $25 million in federal grants to try and improve student performance. The only specific detail given regarding the plan for improvement was firing the principals.
Click here to find out if they will ever learn that more spending is not the answer.
3. City Plans to Spend Taxpayers Money to Move Historic Building
The Stillwater City Council approved $17,928 to move a building in the hopes of making room for more spending. “If we didn’t pass this resolution, it would be a roadblock to the new bridge — so it would behoove us to approve it,” said Councilman Jim Roush. Although relocation of buildings on the National Register is discouraged, organizers see moving as a better option than demolition.
Find out how much it will cost to clear the way for spending here.
4. The Light Rail Budget – Zero Interest Business Loans
The cost continues to grow for constructing the never ending boondoggle. Now the Met Council will be providing $1.5 million in zero-interest loans – perhaps even loans that will never be repaid by businesses that are being threatened by the construction of the $957 million dollar business killer. If this project is creating turmoil for small business in Minnesota how about they stop expanding the project rather than just pour more money into it.
What can government do to destroy your business and then save it? Find out here.
5. If this is how they spend their own money, just imagine how they will waste yours.
This year’s election could be the most expensive governor’s race in Minnesota history and we are not even through the primary yet. Democrats Mark Dayton and Matt Entenza have spent more than $7 million of their own money in the race for governor. Margaret Anderson Kelliher's campaign reported spending $600 on makeup and Mark Dayton wasted $28,000 on a consultant to help him with Facebook.
Continue reading the spending spree details here.
6. 6 Months to Go to the Largest Tax Hike in History!
January 1, 2011, the quickly approaching date of the largest tax hike in history. Federal income tax brackets are all moving up, the 28% bracket up to 31%, the 33% bracket up to 36%, and the 35% bracket up to 39.6%! Capital gains taxes will go from 15% to 20% and the dividends tax from 15% to 39.6%! Whewie! Sell those stocks today! Additional investment tax increases are coming in 2013.
Read all about the bevy of other tax increases coming your way from D.C. by clicking here.
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