This is Dave Edstrom's personal blog called Photons and Electrons. This blog is about technology, as well as some of my personal interests. I am the CEO/CTO of Virtual Photons Electrons. I was the CTO for MEMEX for three years, the President and Chairman of the Board for the MTConnect Institute from May 2010 to January 2014 and prior to that I spent 23 years at Sun Microsystems.
Friday, March 27, 2015
Trickle Down Economics Refuted in Minnesota
Very interesting article on Minnesota governors Pawlenty and Dayton that should be a lesson to the trickle down economics, flat earthers, global warming is a hoax, the earth is 6,000 years old and evolution is just a theory crowd:
Below is a snippet from the article:
"When he took office in January of 2011, Minnesota governor Mark Dayton inherited a $6.2 billion budget deficit and a 7 percent unemployment rate from his predecessor, Tim Pawlenty, the soon-forgotten Republican candidate for the presidency who called himself Minnesota's first true fiscally-conservative governor in modern history. Pawlenty prided himself on never raising state taxes -- the most he ever did to generate new revenue was increase the tax on cigarettes by 75 cents a pack. Between 2003 and late 2010, when Pawlenty was at the head of Minnesota's state government, he managed to add only 6,200 more jobs.
During his first four years in office, Gov. Dayton raised the state income tax from 7.85 to 9.85 percent on individuals earning over $150,000, and on couples earning over $250,000 when filing jointly -- a tax increase of $2.1 billion. He's also agreed to raise Minnesota's minimum wage to $9.50 an hour by 2018, and passed a state law guaranteeing equal pay for women. Republicans like state representative Mark Uglem warned against Gov. Dayton's tax increases, saying, "The job creators, the big corporations, the small corporations, they will leave. It's all dollars and sense to them." The conservative friend or family member you shared this article with would probably say the same if their governor tried something like this. But like Uglem, they would be proven wrong."
I love the final paragraph:
"It's official -- trickle-down economics is bunk. Minnesota has proven it once and for all. If you believe otherwise, you are wrong."
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