Posted at 7:05 AM on July 1, 2011
by Jon Gordon
1Q anualized GDP for US rose at 1.9% on an upward revision from 1.87%. Concensus expectation is around 2.5-2.7% for the remainder of the year. There is no reason the state budget should be growing in excess of 6%, which is what the currently proposed balanced budget does...the Gov. needs to sign the budget.
Nowhere have I found what the extra money from "taxing the rich" is to be used for. Anyone?
What does the Governor want to do with the money? It is sounding to me like Dayton just wants a tax increase to fulfill his campaign promise, not for any specific purpose.
Sec. 8. OATH OF OFFICE. Each member and officer of the legislature before entering upon his duties shall take an oath or affirmation to support the Constitution of the United States, the constitution of this state, and to discharge faithfully the duties of his office to the best of his judgment and ability.
How is it the "no new taxes" pledge to some unknown entity supersedes this?