Giving taxes back a good idea [UPDATED]Published 10:19am Friday, December 6, 2013 Updated 12:21pm Friday, December 6, 2013
It was refreshing to see a projected surplus of $1.08 billion for the remainder of Minnesota’s two-year state budget cycle.
It was also refreshing to hear that Gov. Mark Dayton supports using the surplus to finance tax cuts, because any time that a government projects a surplus it is because too many dollars are expected to move from the taxpayers’ pockets to the government’s bank accounts.
Considering the many years of state deficits, a surplus shows our state’s economy is improving, that businesses are doing better and that jobs are being created.
Using the surplus to cut taxes — Dayton suggested cutting business-to-business taxes and income taxes for middle-class residents — can only aid in improving the economy.
Two years ago, both Dayton and the DFL majority said it was critical to use a balance of spending cuts and tax increases to balance the budget.
Considering the DFL won the leadership, such logic made sense, even if the methods — such as a ridiculous tax on warehouse services that made Minnesota one of the least desirable states in which to do business — did not.
However, in a state which traditionally is among the highest in the nation in terms of taxing its residents, it seems that the time has come to return the surplus to the taxpayers. We’re glad Gov. Dayton agrees.