Wednesday, March 11, 2009

Howes Not Alarmed 2006 Tax Numbers

The Department of Revenue says taxes in Minnesota became more regressive in 2006. State Representative Larry Howes tells KLKS News, while that's true, it's also deceptive. He says some had a good year in the stock market. While their income tax would have been higher, because they had more money, the impact of all other taxes would have been less.
Howes says he's not particularly alarmed by the numbers. He says millionaires will always pay a higher percentage of their income in taxes than the rest of us even in boom years, and hopes the stock market rebounds soon.

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