Anna Wilson, Moorhead, Published May 24 2013
Letters: Tax plan creates a bleak futureAs a college student, I was apprehensively waiting for details of Gov. Mark Dayton and legislators’ tax-increase agreement to emerge.
College students have a stake in this debate also. Our interests are often forgotten in favor of current taxpayers, but we are the future business owners and wage earners who will suffer the long-term consequences of this taxation.
Unfortunately, the future does not seem to be much on the governor’s mind. Dayton and legislators intend to “tax the rich,” which translates to a $2 billion tax increase with a staggering income tax rate hike that will leave our state with the fourth-highest income tax rate in the country.
Productivity and innovation fuel our economy; these taxes punish productivity and discourage innovation. Furthermore, 90 percent of small businesses file taxes as individuals and will be hurt by this increase. Small businesses, job creators, investors and entrepreneurs are the life blood of our economy. Tax increases that drive them away from the state or out of business will be disastrous for our state.
College students look forward to joining the workforce and contributing to society in interesting ways. I used to think Minnesota was full of possibility for us. From where I stand, the future is beginning to look more bleak than bright.