For Mark Dayton Big Tax Increases make the most sense

From Eric Dondero:

Minnesota's favorite son Walter Mondale, famously remarked that he would absolutely "raise your taxes," in a 1984 presidential debate with Ronald Reagan. Now another Minnesotan is doing the same - unashamedly so.

From the AP (via NewsMax):

Dayton, who is a millionaire thanks to the family department store chain that spawned Target, says he'd impose at least $4 billion in new taxes on people who take home more than $130,000 a year.

Dayton argues that middle-class taxpayers are disproportionately picking up the slack through higher state fees for a range of services and rising property taxes to offset deep cuts to local government allowances.

"It's not a question of taxes or no taxes, it's which tax on whom," Dayton said.

Sarah Palin-backed GOP nominee Tom Emmer says No Way!

"I don't think they understand the ramifications when you throw that pebble into this pond where those ripples are going to go," Emmer said of the Democrats' tax plans. "It's not a matter of being wealthy, it's a matter of trying to create opportunity."

The AP goes on to report that Emmer is light on specifics on revenue and spending. However, a simple check of Emmer's campaign website shows the details of his program:

Minnesota’s tax system has become more regressive in recent years. We have become far too reliant on income taxes to supply our state’s coffers. Over 40% of state revenues come from them, the sixth highest in the nation! The top 10% of income earners pay more than half of Minnesota’s income taxes – the top 1% of income earners pay over 25%, while earning only 15.6% of total income. Raising income taxes will only result in high-income earners leaving the state. This would be a disaster. To recover the taxes paid by one household in the top 1%, Minnesota would have to attract over 400 new households with an income ranging from $53,000 to $67,000. However, since our tax structure is not business friendly, it is unlikely there would be jobs to attract those 400 new households.

By reforming our tax structure and reducing the size of government, we empower the individual. Lowering individual and corporate income taxes will attract high-income individuals and businesses to Minnesota. This will result in more jobs being created, which will lead to more Minnesotans making a higher income. With a tax system focused on consumption, rather than income, these newly employed Minnesotans will have more money to spend