"This bill proposes the most significant tax overhaul in 20 years," said the bill's chief author Rep. Ann Lenczeswki, DFL-Bloomington.
In addition to the tax hikes, Lenczewski's bill removes a variety of tax breaks for homeowners and businesses. Charitable contributions, the mortgage interest tax deduction and the property tax deduction for homeowners are eliminated and replaced with a tax credit based on income. The bill also eliminates several business tax breaks, like the Research and Development credit and parts of the governor's JOBZ program.
Lenczewski said she wants to clean up the state's tax code. "Which is to sweep the tax code clean of all of the preferential treatment and subsidies and things we can't afford anymore and instead bring a fairer, more progressive income tax to Minnesotans based on the ability to pay," she said.
Hey, what a great idea! Let's eliminate any shelters available and just get to taxing the snot out of those bastard rich people! What could go wrong?
Go read the Leo's whole piece, in which he even provides the appropriate music. And the appropriate conclusion:
It has proven to be axiomatic that when liberals get ahold of vast amounts of power, they will inevitably over-reach.
No doubt about it.