Walz' economic record
I'm not sure if this has become a big issue yet, but it's easy to predict that it will. This is how Fox News reports it.
"Tim Walz inherited the nation’s highest corporate income tax rate and sixth-highest individual income tax rate, and then drove tax burdens higher," Walczak said.
He explained, "As governor, Walz signed legislation expanding taxation of businesses’ international income, curtailed standard and itemized deductions for many taxpayers, added a surtax on the investment income of high earners, created a new payroll tax that will go into effect in 2026, and imposed a new tax on retail deliveries. "
..The left-leaning Institute on Taxation and Economic Policy (ITEP) praised Minnesota's tax reforms under Walz in a blog post last week, referring to the new code as "moderately progressive."
Since Walz has been at the helm, the North Star State has significantly under-performed the greater U.S. in both economic growth and employment growth rates.Data from the U.S. Bureau of Economic Analysis shows Minnesota's economy has grown 6.2% under Walz's leadership, while the U.S. economy has grown 11.5% over the same time frame, according to an analysis by Reuters.
So what exactly are the positives?
Walz has signed into law a series of measures viewed as pro-worker. Last year, Minnesota established paid sick and medical leave, banned non-compete agreements and expanded protections for Amazon warehouse workers. In May, Minnesota enacted a measure providing a raise for Uber and Lyft drivers while averting a threat made by those companies to stop doing business in the state.
Last year, Walz enacted tax reform legislation that included a child tax credit worth up to $1,750 for each child 17 years old and younger in households earning up to about $96,000 a yearIn addition, Walz expanded tax exemptions for social security payments as well as income resulting from student loan forgiveness.
To help offset these tax cuts, Walz enacted tax increases for some wealthy individuals and corporations. The state imposed a 1% surtax on capital gains, dividends, and other investment income that exceeds $1 million in a year. He also raised taxes for corporations that bring in a portion of their revenue abroad.
I must admit that I like this guy. As Harris' first pick, it gives me just a tiny bit of cautious hope. Where the rubber meets the road is what Harris does about the FTC and NLRB.
Comments
Yay Man Behind the Curtain!
Maybe you'll actually get something from said Man for having stomached:
1) Genocide in Gaza, with its corresponding total control of Congress by AIPAC
2) Throwing Ukraine to the wolves to "hurt Russia," with its corresponding vast decline in America's standing in the world
3) Bidenflation
4) Distinctly possible nuclear war
5) Doing nothing about, you know, student debt, medical bankruptcy, the Supreme Court, and so on
But, hey, maybe you'll get something as regards the FTC or NLRB or whatever.
I'll tell you, however, one thing you won't get: any actual power in the hands of Kamala Harris or Tim Walz. No, this election is about the Man Behind the Curtain, and you're electing him.
The ruling classes need an extra party to make the rest of us feel as if we participate in democracy. That's what the Democrats are for. They make the US more durable than the Soviet Union was.
I think his selection has more to do with this...
...or at least, we can be sure this is what we'll actually get out of him:
https://jonathanturley.org/2024/08/12/a-harris-walz-administration-would...
Besides, doesn't anybody else find monikers like "America's Dad" inherently disturbing (to say nothing of anathema to democracy)? I've been told that was exactly what Reagan was pitched as; that worked out great, now didn't it?
The whole idea of "government as lifelong step-parent" is, to put it mildly, perverse; one almost wonders if "Wicked Stepparent"-style authoritarianism has anything to do with the emergence of the "Daddy/Mommy-Kink" thing the sex-havers of my generation are apparently into now.
In the Land of the Blind, the One-Eyed Man is declared mentally ill for describing colors.
Yes Virginia, there is a Global Banking Conspiracy!
You got that right
Except that it is the GOP that can't stop talking about it. That is a big reason why Trump is now losing.
I'm not sure what to do with this.