|
|
"A collaborative political resource." |
There's no evidence that ultrarich are fleeing Minnesota
|
| Parent(s) |
Container
-
|
| Contributor | RP |
| Last Edited | RP May 11, 2016 05:05pm |
| Category | Report |
| News Date | May 07, 2016 09:00pm |
| Description | The ranks of the very rich are growing in Minnesota, despite a controversial tax increase that singles out the biggest earners to pay more.
Critics predicted that the ultra-affluent would flee after Gov. Mark Dayton secured 2013 passage of a new income tax tier of 9.85 percent on individuals who make more than $156,000 a year. But the latest data show that the number of people who filed tax returns with over $1 million in income grew by 15.3 percent in the year after the tax passed, while the new top tier of taxpayers grew by 6 percent.
The debate is emerging again in the final two weeks of the legislative session, as lawmakers decide what to do with a $900 million budget surplus. |
| Article | Read Article |
|
|
