[Speed Gibson,
Wednesday February 27, 2008 at 10:33pm]
Isn't this a Bonding Year?
I haven't heard any Democrat or news account deny it, so I'll accept the GOP claim that the "Transportation" bill is indeed the largest tax increase in state history. Then I remembered that this isn't even supposed to be a budget year, just a bonding year.
It's not like this was a carry-over. Spending for the biennium was increased about 9% in last year's session, well above inflation once again. Now it's what, about 11-12% higher?
And they're not done yet. We have a deficit to close, probably another billion or so. There's a K-12 finance "reform" bill coming that reportedly will seek another billion. That and a "need" to compensate for the regressive taxes just passed clearly means the DFL will want more corporate and personal income taxes. With the new support of the excommunicated six House RINO's, only the DFL itself can prevent another record tax increase.
It's not like this was a carry-over. Spending for the biennium was increased about 9% in last year's session, well above inflation once again. Now it's what, about 11-12% higher?
And they're not done yet. We have a deficit to close, probably another billion or so. There's a K-12 finance "reform" bill coming that reportedly will seek another billion. That and a "need" to compensate for the regressive taxes just passed clearly means the DFL will want more corporate and personal income taxes. With the new support of the excommunicated six House RINO's, only the DFL itself can prevent another record tax increase.