Democrat Mark Dayton appeared at the U of M’s Humphrey School today to talk about his plan to increase income taxes on Minnesota’s top earners. Dayton detailed why he believes the state needs higher income taxes. He also said he’s supporting a new property tax bracked on million dollar homes and would “look” a sales tax hike on luxury items as long as the taxes are progressive.
Dayton said he’s unwilling to make Minnesota’s income tax rate the tops in the nation. He suggested to reporters after the forum that he was looking at a “10.9% or 10.8% rate” when asked how much lower his income tax rate would be compared to Hawaii’s 11% rate. Minnesota’s top rate is currently 7.85%.
Dayton said the Minnesota Department of Revenue looked at “various scenarios” regarding Dayton’s income tax plan. The campaign says it will release that information tomorrow.
You can listen to Dayton’s speech here:
You can listen to Dayton’s q and a with the Humphrey School’s Larry Jacobs here:
Republican Tom Emmer will be at the U of M for a similar event on Wednesday. The Independence Party’s Tom Horner will be at the U of M on Monday, September 20th.