Taxes & Budget Policy
We believe government budgets must be based on sound fiscal policies and fair taxation aimed at achieving economic growth, conservation of resources and full employment
Balancing the federal budget and reducing the National debt. • A progressive tax structure with minimal reliance on sales and excise taxes. • Taxing all income producing property owned by tax-exempt organizations, as the same rate as other income producing property. • Establishing a lower tax base for industry in rural areas of Minnesota as an aid to the economic well-being of those areas. • Taxing agricultural lands on the basis of production value rather than market value. • Providing tax incentives for equity investment in small businesses. • Reducing the military budget and using the savings to fund social, scientific and environmental programs and research and development. • Exempting senior citizens from paying property taxes if their income does not exceed 125% of the poverty level and they live in single-family homes. • Denying tax exemptions for schools that practice or advocate racial segregation.