Gov Dayton

[Big Dave2]

Funny thing -- some states like to lead the pack in sales tax (Texas, for instance). Others lead the pack in income tax (Hawaii and California). Here in MN we like to be toward the head of the pack in all of them, and the net result is that we're the 6th highest state for total tax burden of all local and state taxes. It's sweet.

My question is......who's going to be the first liberal to tell aanderud to leave if he doesn't like it?

[Nick Kuhn]

Yeah, it's not just the bonuses that are hit up at that 50% rate. Scary when you start doing the math, but someone making $30k a year taxable has the same issue on any new dollars they make (be they from a bonus, a second job, etc). Say you're in the marginal 25% bracket for the feds. Now add 7% for Minnesota income tax, and add 15.2% for FICA (social security and medicare) -- you're at basically 50% and that's without saving for retirement. It only gets worse as you go up in income. Worse yet -- Now go and spend that take-home money on something, and watch 7% more go to sales tax.

Your numbers are way off. FICA is 6.2%, plus 7% Minnesota income tax (deductible from federal income tax), and 25% federal income tax is nowhere near 50% of your income. Now put some of that away to lower your taxable income and you should have no trouble getting your overall tax rate down to close to 25%. Unless you are making piles of money of course, but that's the first world problem of all first world problems.

[KawishiwiKid]

Not really that close...

[LMITOUT]

Not really that close...

October 2006, a new poll comes out showing Democrat challenger Mike Hatch has blown the race for Governor wide open and leads Republican incumbent Tim Pawlenty by nine points. On election day, Pawlenty wins a second term.

October 2008, a new poll comes out that shows Democrat challenger Al Franken has blown the race for U.S. Senator wide open and leads Republican incumbent Norm Coleman by nine points. On election day, Coleman actually wins the initial count of votes.

September 2010, a new poll comes out that shows Democrat Mark Dayton maintaining a nine point lead over Republican Tom Emmer. The October poll has Emmer down by 7. On election day, Emmer loses…in a recount by a few thousand votes.

September 2014, a new Star Tribune poll came out that showed Democrat Mark Dayton leading Republican Jeff Johnson by 12 points. The October Star Tribune poll has Democrat Mark Dayton leading Republican Jeff Johnson by only 7.

The purpose of these pre-election opinion polls is not to track voter intentions, but to suppress Republican interest and turnout. And it works almost every time.

In 2014 the effect was particularly insidious: just as Johnson was gearing up his general election campaign, the September poll was indicating--against all available evidence elsewhere--that Johnson was falling further behind.

In October the lead has been, effectively, cut in half. That is no accident. Should Johnson prevail on election day, the Star Tribune will claim that the race was "late breaking" and their poll reflected the late tightening of the race. Because that is what they say every year.

[LMITOUT]

Funny thing -- some states like to lead the pack in sales tax (Texas, for instance). Others lead the pack in income tax (Hawaii and California). Here in MN we like to be toward the head of the pack in all of them, and the net result is that we're the 6th highest state for total tax burden of all local and state taxes. It's sweet.

Amateurcommie seems to think so, but I'm not sure he's on the paying end based on his posts.

[delcecchi]

If you are working for someone, the FICA out of your bonus is only 7+ percent. And if you are married, filing jointly the 25% bracket doesn't kick in until 72k. 36k if single.

The reason that gambling gets hit harder is that all winnings are added to income and losses are deductions. You also have to calculate the AMT and gambling losses are not deductible for AMT purposes.

[LMITOUT]

Nolan is a blowhard! I am surprised anyone voted for that buffoon last time.

The Star and Sickle must agree, as they have endorsed Stewart Mills this evening.

I'd guess they are hedging a little after seeing the recent polls...

[Eric Wettschreck]

I'm far from a tax expert but something in these numbers isn't adding up to me.

In the years I worked for Merck, twice I received a bonus and it was immediately taxed at around a 40% mark. I asked my tax dude about it and was told that bonuses are not income, they're a bonus and the tax rate is much higher.

These bonuses were not reflected on my W-2 as part of my salary. Tax man told me if it were profit sharing and not a flat out bonus it would be income.

I don't know the details of it all. Just sayin what I was told by my tax guy.

[Kidd]

Here's an explanation from the IRS: Supplemental Income

Even after reading this it's still confusing.

[leechlake]

just to clarify the FICA Medicare math:

Employee pays 6.2% FICA and 1.45% Medicare, FICA has a limit of about $110k that is taxed medicare no limit.

Employer pays 6.2% FICA an 1.45% Medicare on the above employees payroll, this is the employers liability it isn't deducted from the employees gross pay.

[swamptiger]

Quote:

The reason that gambling gets hit harder is that all winnings are added to income and losses are deductions. You also have to calculate the AMT and gambling losses are not deductible for AMT purposes.

You can deduct gambling losses, but you have to itemize deductions, and then the question is whether your losses were large enough to make it worthwhile to itemize or take the standard deduction. But it's generally a losing proposition all the way around..

[amateurfishing]

October 2006, a new poll comes out showing Democrat challenger Mike Hatch has blown the race for Governor wide open and leads Republican incumbent Tim Pawlenty by nine points. On election day, Pawlenty wins a second term.

October 2008, a new poll comes out that shows Democrat challenger Al Franken has blown the race for U.S. Senator wide open and leads Republican incumbent Norm Coleman by nine points. On election day, Coleman actually wins the initial count of votes.

September 2010, a new poll comes out that shows Democrat Mark Dayton maintaining a nine point lead over Republican Tom Emmer. The October poll has Emmer down by 7. On election day, Emmer loses…in a recount by a few thousand votes.

September 2014, a new Star Tribune poll came out that showed Democrat Mark Dayton leading Republican Jeff Johnson by 12 points. The October Star Tribune poll has Democrat Mark Dayton leading Republican Jeff Johnson by only 7.

The purpose of these pre-election opinion polls is not to track voter intentions, but to suppress Republican interest and turnout. And it works almost every time.

In 2014 the effect was particularly insidious: just as Johnson was gearing up his general election campaign, the September poll was indicating--against all available evidence elsewhere--that Johnson was falling further behind.

In October the lead has been, effectively, cut in half. That is no accident. Should Johnson prevail on election day, the Star Tribune will claim that the race was "late breaking" and their poll reflected the late tightening of the race. Because that is what they say every year.

Lol, soooo typical, the sky is falling and ALWAYS someone elses fault.

[DrJill]

Nolan is a blowhard! I am surprised anyone voted for that buffoon last time.

[amateurfishing]

Cant wait till next tues nite, suspense killing me.

[Uncle Bill]

I detect butthurt...

[leech~~]

Cant wait till next tues nite, suspense killing me.

So Gov Goofy may win again. Then What? What's the new big plan he has?

Wait for it: A)"well at least he's better then the other guy"

[Uncle Bill]

So Gov Goofy may win again. Then What? What's the new big plan he has?

Tina Flint-Smith...

Gov. Goofy is a stand in, a recognizable name, the messenger boy...until after the election.

He is clearly not fit for public office.

And despite his denials, he has no intention of fulfilling his term.

[Ufatz]

Okay Uncle Bill, I am getting tired of all this "he is not fit for public office" camel dung you boy's so willingly spread. Says who? Any medical opinions to back that up? Any staff leaks (believe me, they ALL leak) to indicate that he is irrational or loses touch with day-to-day business? Have you seen ANY reports in ANY media that would lead you to believe the man is truly incompetent?

There is a big gap between a man who is incompetent and one who makes decisions you don't like. I have not paid that much attention to MN politics until this recent campaign when so many charges of "incompetence, out-of-touch, not in charge, clueless, unaware etc." fly around.

So I have closely watched Mr.Dayton when he is unscripted and off the cuff. I will grant he is not an articulate and accomplished speaker but he has reasonably answered questions, put forth ideas and generally behaved in a reasonable and rational manner. He suffers from some facial expressions that are indeed "goofy" but there is not much he can do about that. For all we know you may look a little goofy on occasion too. I know I do! LOL

So vote the man up or down on what he has done or is doing. For the record I once worked for a man who was not much of a speaker and was ill at ease among big crowds. He also did so well he was re-elected as often as he wanted to be,

So why don't some of you guy's relax a little bit. Which ever candidate wins next week the State of MN will not collapse. And I surely hope that each and every blowhard in here who hates, reviles and denigrates Mr. Dayton will be first in line at the polling place and put their ballot where their buyls-t is!

[Uncle Bill]

The Star and Sickle must agree, as they have endorsed Stewart Mills this evening.

A little good news for you independents sitting on the fence.

From the Star tribune endorsement:

Having begun his Fleet Farm career scrubbing toilets and emptying trash, Mills today is vice president in charge of the chain’s health care plan, covering 6,000 employees and their dependents. He has developed a hands-on understanding of the intricacies of the health care marketplace, coming to see wellness and prevention as keys to controlling costs.

Mills says his objections to the Affordable Care Act are central to inspiring his run for Congress. His candidacy follows what he calls the “Hunting Camp Rule”: If you complain about something, you get the job of fixing it. His condemnation of the ACA is too sweeping, given that he backs the law’s key goals. But the market-based approaches he prefers — including more price transparency and tort reform — could contribute to needed improvements in the law.

Finally, someone we can all relate to.

[Uncle Bill]

Okay Uncle Bill, I am getting tired of all this "he is not fit for public office" camel dung you boy's so willingly spread. Says who? Any medical opinions to back that up? Any staff leaks (believe me, they ALL leak) to indicate that he is irrational or loses touch with day-to-day business? Have you seen ANY reports in ANY media that would lead you to believe the man is truly incompetent?

The rumors are everywhere.

Video evidence of dayton deteriorating condition removed.

Even your boy, dayton has come out to deny the rumors.

But yet ?? Ufatz hasn't heard a peep ??

#uninformed.

P.S. Perhaps even a quick review this thread may bring you up to half speed.

Check out the video posted of dayton at the Hmong festival..

Very disturbing.

[delcecchi]

And I surely hope that each and every blowhard in here who hates, reviles and denigrates Mr. Dayton will be first in line at the polling place and put their ballot where their buyls-t is!

I disagree with him, although I don't denigrate him (unlike the liberal treatment of those who disagree with them) and everyone can't be first in line. But I will get there sometime during the day.

[Big Dave2]

Check out the video posted of dayton at the Hmong festival..

Very disturbing.

[aanderud]

If you are working for someone, the FICA out of your bonus is only 7+ percent.

[aanderud]

I'm far from a tax expert but something in these numbers isn't adding up to me.

In the years I worked for Merck, twice I received a bonus and it was immediately taxed at around a 40% mark. I asked my tax dude about it and was told that bonuses are not income, they're a bonus and the tax rate is much higher.

These bonuses were not reflected on my W-2 as part of my salary. Tax man told me if it were profit sharing and not a flat out bonus it would be income.

I don't know the details of it all. Just sayin what I was told by my tax guy.

[NWKR]

SS is 6.2% and Medicare is 1.45% so 7.65% for employee and employer. 15.3% total.

If anyone is getting a bonus and it is not included on your W2 it is either prepared incorrectly or you don't understand how your paychecks and salary translate to your W2 and tax return. Part of the personal finance education crisis in this country.

The turbotax blog link that someone posted does a poor job distinguishing between actual tax owed and tax withheld. Are you guys with 40% withheld getting a large tax refund at the end of the year? Reduce your bi/weekly or semi-monthly withholding then so you aren't giving an interest free loan to the government. As long as your amount owed at April 15 is less than 1k you don't have any penalties. If the large refund you get in April is needed to pay bills and other stuff you should fix your personal financial house before complaining about the government spending and giving them interest free loans for the whole year.

[Eric Wettschreck]

I surely hope that each and every blowhard in here who hates, reviles and denigrates Mr. Dayton will be first in line at the polling place and put their ballot where their buyls-t is!

It's all mail in ballot where I live. I already voted.

So, In a roundabout kind of way, I beat the guys who are first in line.

[Ufatz]

Ha ha ha! Good for you Eric!

[aanderud]

I surely hope that each and every blowhard in here who hates, reviles and denigrates Mr. Dayton will be first in line at the polling place and put their ballot where their buyls-t is!

[Eric Wettschreck]

It really works well for us. Elections are expensive and the big town of avoca saves major coin by not paying election judges. Everyone mails ballots to the county. I recommend other areas looking into it.

[LMITOUT]

Unfit to govern.