Walz Checks

[teamgreen02]

Another income redistribution plan.  Take from the people who pay taxes and give it to those who don't.

Plus another $93 million a year in taxes for trains.  The overall budget proposal is a 20% increase from last time.

Quote

ST. PAUL, Minn. (FOX 9) - Minnesota Gov. Tim Walz restructured his signature rebate check proposal Tuesday, making the direct payments more lucrative for some while cutting out hundreds of thousands of households by lowering income caps.

Under Walz's plan, individuals making less than $75,000 a year would receive $1,000. Married couples earning less than $150,000 would get $2,000 from the state. Parents would receive an additional payment of $200 per dependent child, up to $600. Walz estimated that 2.5 million households will get a check, and the rebates will cost $4 billion.

Direct payments are one aspect of an overall $65.2 billion, two-year spending wish list that Walz will negotiate with a DFL-controlled Legislature that supports many of his ideas. The governor's plan calls for thousands of dollars in tax credits for families, which he said represents the biggest tax cut in state history, while it relies on tax increases to fund other spending proposals.

Walz lowed the income thresholds on his rebate checks in an effort to appeal to Democratic lawmakers who were lukewarm to his initial proposal in 2022. That plan had looser income caps: $164,400 for individuals and $273,470 for married couples. At the time, Walz said it would've benefited 2.7 million households.

"We came up with those numbers because that captures the vast majority of Minnesotans," Walz told reporters when asked why he settled on the lower income caps. "We'll make the case that this is a smart way to go about it."

The rebate checks won't be taxable and will be based on a person's 2021 adjusted gross income. State officials think they can issue most checks automatically by this fall if lawmakers approve, Revenue Commissioner Paul Marquart said.

Walz administration officials said the budget could provide up to $9,900 to certain families through a child tax credit, dependent care credit, and the revised rebate checks. Walz unveiled the tax credits at a news conference last week.

Tax increases
Walz on Tuesday also proposed two new tax hikes. The one that affects the most people is a one-eighth cent sales tax increase in the seven-county Twin Cities Metro. Walz didn't include the tax proposal in his budget promotional materials, but it was included in the 202-page proposal once it was posted online.

The tax would start in October and eventually collect more than $93 million a year to plug gaps in Metro Transit's budget. The money could eventually help see the over-budget, behind-schedule Southwest Light Rail project across the finish line, said Met Council Chairman Charlie Zelle.

"There are many needs in terms of capital expansion (and) a structural deficit going forward needs to be addressed," Zelle told reporters when asked about Southwest Light Rail. "I think this sustainable new revenue opens up those options. But to be determined how it’s stitched together. We’re confident we’ll be able to do it (finish the rail project)."

Walz's second proposal is a tax surcharge on capital gains and dividends, which would affect relatively few people. It calls for a 1.5% surcharge on gains and dividends higher than $500,000 a year, and a 4% surcharge on stock market earnings above $1 million a year.

Legislative Republicans, who are powerless to stop Democrats from passing a budget, criticized the tax increases and said Walz should've proposed tax cuts without income caps.

"If we can't cut taxes now, then when can we?" said House GOP Leader Lisa Demuth, R-Cold Spring.

Top Democratic lawmakers, on the other hand, praised the governor's budget and said they were united around shared principles.

"I commend the governor for proposing a bold budget with an inspirational vision for our future," House Speaker Melissa Hortman, DFL-Brooklyn Park, said in an emailed statement. Senate Majority Leader Kari Dziedzic, DFL-Minneapolis, later said the governor's proposal reflected Minnesotans' priorities.

Social Security income
The governor, a second-term Democrat, also proposed excluding more Social Security income from state tax. The change will save 43% of recipients an average of $278 per year, he said. Fifty-five percent of Social Security recipients already pay no tax.

Walz's Social Security plan is about one-fifth the size of the tax break that legislative Republicans and several DFL senators want. They've proposed a full exclusion, which would cost the state an estimated $2.8 billion in lost tax revenue over the next four years, compared with $468 million in lost revenue under Walz's proposal.

Overall, Walz has proposed spending $16 billion of the state's $17.6 billion projected budget surplus through a series of family tax credits, public school spending, and funding boosts to climate initiatives, public safety, and housing.

if you want to find a problem with having the best state for education, the best investments for the future, reducing childhood poverty by 25%, and watching the vast majority of Minnesotans seeing cost go down for them, good luck," Walz said of GOP criticism. "I look forward to that debate."

[teamgreen02]

Our total tax burden is higher than California.

[Mag6240]

Yup, I saw that.  Take from those who work and generate the state income and give it to those that do not.  I’m not against helping out those who need it, but FFS, let me choose where and to whom my money goes.  MN is definitely the CA of the Midwest.

[jdsky]

Sweet.  My parents will be happy to hear they may be getting a couple grand thanks to all those hard working Minnesotan's. 

Overall it's not been a bad move for them retiring there.  WI does not tax Social Security but they stay below the income threshold so it is still not taxed in MN.  They also have much lower property taxes than WI.  A comparable home would cost them at least another $5K in property taxes vs what they pay now.   

[teamgreen02]

35 minutes ago, jdsky said:

Sweet.  My parents will be happy to hear they may be getting a couple grand thanks to all those hard working Minnesotan's. 

Overall it's not been a bad move for them retiring there.  WI does not tax Social Security but they stay below the income threshold so it is still not taxed in MN.  They also have much lower property taxes than WI.  A comparable home would cost them at least another $5K in property taxes vs what they pay now.   

Unless they live in poverty, they are paying taxes on their social security in Minnesota.

[jdsky]

2 hours ago, teamgreen02 said:

Unless they live in poverty, they are paying taxes on their social security in Minnesota.

You can have $50K in income and your AGI is less than $25K when married filing jointly.  There are also other credits they qualify for that lowers that number even further.  They are 82 years old and live very comfortably on that income with zero debt.  They own a 4500sq. ft. home on 1/2 acre.  Don't travel anymore and their expenses are minimal.  They actually still save money based on their investments.

[Mag6240]

39 minutes ago, jdsky said:

You can have $50K in income and your AGI is less than $25K when married filing jointly.  There are also other credits they qualify for that lowers that number even further.  They are 82 years old and live very comfortably on that income with zero debt.  They own a 4500sq. ft. home on 1/2 acre.  Don't travel anymore and their expenses are minimal.  They actually still save money based on their investments.

Sounds like what my 81 year old mother is doing.  Much different situation than the average working family.

[racinfarmer]

6 hours ago, teamgreen02 said:

Another income redistribution plan.  Take from the people who pay taxes and give it to those who don't.

Plus another $93 million a year in taxes for trains.  The overall budget proposal is a 20% increase from last time.

The Democrats are trying to force as much spending and legislation through before budget numbers come out at the end of February.

Got to spend that surplus!

Oh, and the rolling assault crime trains, yeah...

54% increase in crime on public transit in 1 year.  

https://bringmethenews.com/minnesota-news/data-shows-54-increase-in-crimes-on-metro-transit-trains-buses-in-2022

[ActionfigureJoe]

I'm an official resident of SoDak. Absolutely the best state for van life. No state income tax. No tax on pensions. No tax on SS. It's also easy to get a driver's license and residency with no permanent address. Most other states want a person to conform for residency. 

[steve from amherst]

13 hours ago, ActionfigureJoe said:

I'm an official resident of SoDak. Absolutely the best state for van life. No state income tax. No tax on pensions. No tax on SS. It's also easy to get a driver's license and residency with no permanent address. Most other states want a person to conform for residency. 

Your governor is kinda cute too 

[teamgreen02]

16 hours ago, racinfarmer said:

The Democrats are trying to force as much spending and legislation through before budget numbers come out at the end of February.

Got to spend that surplus!

Oh, and the rolling assault crime trains, yeah...

54% increase in crime on public transit in 1 year.  

https://bringmethenews.com/minnesota-news/data-shows-54-increase-in-crimes-on-metro-transit-trains-buses-in-2022

Crime is rampant on all of Metro Transit.  Unchecked drug use and overdoses both on the trains/buses and at the crime nodes (some might call those transit stops/stations).

The only time I really rode it was down to the state fair or from terminal 2 to terminal 1 for the cheaper parking.  Now, I just park at terminal 1 and expense it.  Parking for my trip to Europe was almost $300.  My wife wasn't real impressed at the drug use or clientele on the light rail at 5 AM the last time we parked at terminal 2.

[Mag6240]

19 minutes ago, teamgreen02 said:

Crime is rampant on all of Metro Transit.  Unchecked drug use and overdoses both on the trains/buses and at the crime nodes (some might call those transit stops/stations).

The only time I really rode it was down to the state fair or from terminal 2 to terminal 1 for the cheaper parking.  Now, I just park at terminal 1 and expense it.  Parking for my trip to Europe was almost $300.  My wife wasn't real impressed at the drug use or clientele on the light rail at 5 AM the last time we parked at terminal 2.

Many years ago my kids wanted to ride the train from the airport to the Twins game at the new stadium.  I will NEVER step foot on one of those fucking things ever again.  Not only was it as described above, even 10-12 years ago, but it took nearly triple the time to get there and get home had I just driven myself and parked in a ramp 2 blocks away and walked to the ball field...And that didn't include my time to drive to the airport terminal.

[teamgreen02]

$3.3 billion infrastructure plan and 20% goes to roads, bridges, and water systems.  

[Matt]

21 hours ago, ActionfigureJoe said:

I'm an official resident of SoDak. Absolutely the best state for van life. No state income tax. No tax on pensions. No tax on SS. It's also easy to get a driver's license and residency with no permanent address. Most other states want a person to conform for residency. 

My buddy just did the same.

[teamgreen02]

Biennium budget goes from $35.3B in 12-13 to $65.2B in 24-25.  Absolute insanity. 

You boys can stick around and pay the bill.  I'm gonna start planning my exit.

[racinfarmer]

1 hour ago, teamgreen02 said:

$3.3 billion infrastructure plan and 20% goes to roads, bridges, and water systems.  

How does "Community and Equity" fall into an infrastructure bill?

Maybe that is the cost of the "Reconnect Rondo" bullshit people are pushing...

[teamgreen02]

16 hours ago, racinfarmer said:

How does "Community and Equity" fall into an infrastructure bill?

Think you will be getting any of that?

$3.3 billion for infrastructure, nothing about communications and broadband?

[racinfarmer]

9 hours ago, teamgreen02 said:

Think you will be getting any of that?

$3.3 billion for infrastructure, nothing about communications and broadband?

Oh hell no.

That'll all be kept in the Shitties.  Maybe throw a few hundred grand at Duluf to keep them happy, but it'll be a Feeding our Futures shitshow all over again.

Solely based on how much Walzy and the Dems let slip through their hands in outright fraud (Feeding Our Futures, the daycare scandal, the Indian payments scandal, Lightrail, etc.) should have been enough to cost them the midterms, but it shows that the left doesn't care.  They flat out don't care one single fucking tiny iota.  The end justifies the means.  

[Mag6240]