Patrick Condon reports on prominent businessmen who have built and/or run successful organizations, and yet never realized that their support for the DFL (Minnesota’s name for the Democratic Party) and Mark Dayton would mean –gasp — higher taxes. Now that Dayton and the DFL-controlled state legislature has pushed through its higher-spending agenda, they want to hike taxes on those same businesses. Suddenly, the scales have begun to fall from their eyes:
Dik Bolger is a lifelong Minnesota Democrat, a gray-bearded baby boomer with a braid down his back whose Minneapolis printing company’s plant displays work by local artists and sculptors. He backed Mark Dayton for governor, but his take on the Democratic chief executive’s plan for new business taxes could be the voice-over for a Republican campaign commercial.
“We’re screwed,” Bolger said, if the tax goes through. His 79-year-old company competes nationwide and overseas for work with major brands like Chanel. “If you’re bidding for a $100,000 job on a national basis and tax expenses push you a couple of percent higher, then I’m not competitive.”
What about people whose business is to manage money and wealth? Shouldn’t they have been able to do the math on the DFL’s big-spending agenda?
“I’m the kind of person willing to pay more in taxes because of all the attributes and benefits Minnesota offers,” said John Taft, CEO of Minneapolis-based RBC Wealth Management. “But you do reach a tipping point where the cost of government gets too high and this would push us past that tipping point.”