Saturday, April 23, 2011

Illegal Immigrants Pay More Taxes than GE

It's an arresting headline, isn't it?

The Institute for Taxation and Economic Policy released a report on Tax Day that showed that undocumented immigrants pay $11.2 billion in state and local taxes. While General Electric, Wells Fargo, and Bank of America are able to shield their voluminous assets from federal taxation through creative accounting, these undocumented residents are doing their, uh, patriotic duty.

Minnesota's share? About $81.7 million, of which $74 million is from sales and income taxes.

To be fair, corporations also pay state and local taxes of several types. But in a political environment where taxes are regarded as the rich man's curse, it's illuminating to place these numbers in juxtaposition.

In other tax news:

North Dakota Cuts Taxes to Become More Business Friendly. Besotted with oil revenue and the closest thing to Galt's Gulch this side of Colorado, North Dakota further reduced corporate taxes. Somehow Minnesota receives a net inflow of North Dakotans despite their lower taxes. I wonder why?

Just keep that in mind when you see the blatant lies of "The Freedom Club" commercial claiming our recent graduates will have to flee to North Dakota, South Dakota, and Iowa for work. I will give these folks one thing. Some folks might be fleeing to Iowa, but it's for the marriage rights, not lower taxes and jobs.

Follow me on Twitter @aaronklemz

No comments: