The grand prize for self-abuse goes to Minnesota, which this year enacted a new 10% gift tax with a $1 million exemption. A gift tax is a levy on money given away while still alive. This tax is in addition to Minnesota's 16% estate tax. The new law is all the more punitive because it applies the 16% estate tax (6% on top of the earlier 10% gift tax) to any gift within three years of death.
"DFL Duluth’s pension fund is circling the drain because it has only 900 active members supporting more than 1,200 retirees — and those retirees continue to get cost-of-living increases despite the fund’s $120 million shortfall. St. Paul is in better demographic shape, but it is short $600 million. Despite these frankly predictable shortfalls, both funds asked for increases for retirees so that they get the same deal as teachers in the state fund (TRA). Meanwhile, TRA, despite a $6.2 billion deficit, asked for a break for its retirees from cuts made in 2010. This is the kind of thinking that makes taxpayers wonder what planet these folks live on."
Libtards don't get confused with facts. Libtards keep voting DFL for more taxes and fees so their government union buddies can keep living high off the hog AND support fellow Libtard No Jobs Nolan and his gang of anti-mining enviro-radical extremists.
This is why Marx Dayton and the DFL henchmen are gutting middle class incomes more with all of the DFL's 2013 tax increases. Expect the income migration out of Minnesota to gain greater momentum as the DFL desperately attempts to keep all of the government union folk and retirees happy...at the expense of those left behind.
"To lend money to California, Illinois or the other nine states perched on the precipice requires a leap of faith. So does buying a house in those locales. Don’t count on a property tax limit to protect your home’s value. If other taxes are high enough, there won’t be any buyers."