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Friday, March 25, 2005

Tax the Texan

I must say that I was a bit surprised at this proposal from Senate Minority Leader Dick Day to tax Red McCombs upon the sale of the Vikings. After all, Dick Day is a Republican, and they generally aren't the ones calling for $25 million taxes on the wealthy.

However, I admit that the plan does make sense. Key to this is the argument that if McCombs does successfully sell the Vikings, because he is from Texas, he will not pay Minnesota capital gains taxes. This, after using a stadium that the public paid for. If it ends up that he doesn't pay Minnesota taxes on the sale, one where he will make a pretty penny, I see no problem with Day's plan.


At 2:20 PM, March 25, 2005, Blogger Hammer said...

I don't like Red, but I don't like special taxes aimed at one person even more.

At 8:52 AM, March 26, 2005, Blogger Big Daddy said...

I'm with Hammer. Which is a little strange because I'm all about taxes. Bring 'em on. I say. We need the revenue and I'm willing to pay if you are.

But to single McCombs out for a special capital gains tax is a silly proposal. Do we start taxing all out-of-state persons and entities who show capital gains by doing business in Minnesota? Just wait and see how fast the economy tanks because no one will bring their investment here anymore.

The guy made a ton of money here. Much of it because of the choices made by state and local government long ago. Choices. He should have to pay because some don't like those past choices? No way.

Bring on the income tax increase!


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