The Minne-Vortex
By Mitch Berg
Minneapolis – aka “The Greece of the Midwest”, “A Cold California”, or “A Less Toxic New Jersey” – is stuck in a vortext of public pensions, higher taxes, and shrinking tax base.
Katie Kieffer attended the city’s annual tax meeting (held with about two days’ notice to the city’s, er, taxpayers) and found that the natives were restless.
The city suffers from zooming public pensions and a shrinking tax base. Their solution – in true Greek, California, or Flint Michigan style -is to jack up taxes on those that are remaining and have property to tax.
And it’s just not working!
Minneapolis is now considered the second-most dangerous city in the U.S. when it comes to falling property values. Meanwhile, the city’s unemployment rate has increased to 6.7 percent from the month of May’s level of 6.1 percent. I think a Minneapolis home-owner named Sean offered the best solution: “It’s time to cut the budget.”
Read the whole thing.
December 15th, 2010 at 1:50 pm
“Minneapolis is now considered the second-most dangerous city in the U.S. when it comes to falling property values.”
I’m willng to bet that number will change, there’re likely to be numero uno in short order.
December 15th, 2010 at 1:50 pm
Mark Dayton’s plan, as we all know, is to raise taxes on the most successful. And, as we all know, will result in a shrunken tax base for the state as it is really quite easy to establish a residence in another state.
With Wisconsin in full Republican control now, I wonder if cabins in Wisconsin that are owned by successful Minnesotans will become official residences.
December 15th, 2010 at 2:07 pm
You can just about say that Minn is is full GOP control. (Well if you don’t include the infirmed.)
Let’s see; property values go down, and there are a bunch of properties going vacant, and yet they want to further increase property taxes, brilliant!!!
Ever wonder how many of the city government pensioners actually still live in the city.
Mpls tipped the scales for Mad Mark, we’ll see how that works out for them.
December 15th, 2010 at 3:33 pm
Ha! Suckers!
(I moved outta there this past summer, and am enjoying the HELL outta one particular low-tax suburb)