Posts Tagged ‘Social Security’

Beware the Trojan Tax Cut

As Homer tells it, a besieged Troy eagerly welcomed the present of a large wooden horse as a herald of good times to come. This “gift,” however, actually led to the ruin of the proud city. Minnesotans should take this cautionary tale to heart before they embrace the large tax cut schemes being promoted by…

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Role of Government in Reducing Poverty

Poverty rates fell significantly from 2014 to 2015, based on new data from the U.S. Census Bureau, summarized in a recent North Star article. While poverty fell significantly in 2015, poverty rates in Minnesota and nationally remain above pre-Great Recession levels. Poverty rates would be much higher but for federal and state government programs that…

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The High Cost of Fully Exempting Social Security Benefits

Fully exempting Social Security from the state income tax will result in a rapidly escalating state revenue loss and will have consequences that violate several principles of good tax policy. These and other aspects of plans to exempt all Social Security benefits were explored in a March 2016 House Research background paper. Using information from…

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