Minnesota has a budget surplus. Should refund checks be issued?

[thebaldguy]

Our state has reported a budget surplus of hundreds of millions of dollars. Should the state issue refund checks for taxpayers, or save the money for a rainy day? I can see both sides, but I have to think that since we are overtaxed, the money should be refunded. What do you think? Save it, spend it, or refund it?

[brimic]

or save the money for a rainy day?

Only if you believe that the government can use or save your money better than you yourself can.
The only good argument that I can give for the state to bank the money is that the money wasn't collected equally but will probably be refunded equally to everyone.

[Headless Thompson Gunner]

Yep, the problem with refund checks is that the money coming out of the treasury never widns up back in the hands of those who paid it into the treasury.  Refunds are usually issued disproportionately to lower-income individuals who didn't pay a dime in taxes to begin with.  It's wealth redistribution of the worst sort.

Lowering the tax rates would be a far more fair solution than issuing refunds or banking the surplus.  That surplus money belongs to the people from whom the tax revenues were extorted.

[Antibubba]

Let me know when you get your refund check, because I can make you a great offer on a bridge that's been in my family for generations...

[Standing Wolf]

Obviously, the state of Minnesota has way too much money, and needs to give it back to those who were grossly over-taxed.

I didn't say I believe it will happen.

[Finch]

They did the same thing here is Las Vegas. They issues refund checks to everyone who had paid a vehicle registration in the last year. Before that happened though, some advocacy group moaned that illegal aliens couldn't get their share, so they changed it to anyone with a Nevada issued ID. What you paid in registration taxes decided how much you recieved back.

There were much better things the money could be spent on. Our teachers are some of the most under paid in the nation, I'm sure the 300 million of our state surplus could have been better spent.

[Big_R]

Actually, back in the Ventura administration, refund checks were issued due to a budget surplus.  As I recall, there was a big disagreement whether low income people (that didn't pay any state tax) were entitled to a refund.  I can't remember how it went, but I did receive a check.

Ryan

[The Rabbi]

I agree with the Headless One.  Lowering taxes will have longer-term salutary effects than any one-time refund.
Tennessee had the same situation, after years of screaming for more tax revenue.  There was a proposal to lower the incredible 9.25% sales tax.  Instead they upped legislators' salaries.

[charby]

fix infrastruture, be a benefit to all then.

[Jamisjockey]

Use the money, I'm sure they could use freeway upgrades and whatnot.  Then, cut taxes that amount for the next year.

[HankB]

Spend the money on programs - specifically, new programs.

Let those new programs grow.

Turn that surplus into a future deficit!

(This suggestion brought to you by the Minnesota DFL Party.)