Tag Archives: personal income

North Dakota Personal Incomes Have Nearly Doubled In The Last Decade

North Dakota Personal Incomes Have Nearly Doubled In The Last Decade

The Bureau of Economic Analysis just released personal income numbers for 2013. Nationally it’s not a very pretty picture. Personal income growth slowed from 4.2 percent in 2012 to 2.6 percent in 2013. But in North Dakota personal incomes are booming. The state saw 7.6 percent growth in personal income in 2013, with per capita

Life Is Less Expensive In North Dakota

According to prototype data from the federal government, North Dakota is among the cheapest places to live in the country. While some North Dakotans may grumble a bit about that – a roaring economy and soaring personal incomes are driving prices for goods, services and housing up in the state – it’s absolutely true that

North Dakota Seeks To Take Advantage Of Minnesota Tax Hikes

Guest poster Mike Marcil, a North Dakota businessman, wrote here on SAB recently about the growing disparities between Minnesota and North Dakota taxes. “[A] family living in Moorhead making $60,000 per year will pay $3,626 per year in personal income tax vs. only $756 in North Dakota under the new tax rates,” he wrote. “A

Thanks To Out Of Control Pensions, Local Governments Spending More To Do Less

The right-left divide on government is between the liberal preference for high-tax, high-service government and the conservative preference for low-tax, low-service government. But thanks to out of control defined-benefit pensions, what Americans are increasingly getting is high-tax, low service government. The worst of both worlds: Local governments are spending less on public services because public

North Dakota House Caves, Approves Senate's Smaller Income Tax Cuts

Back in February the House passed a bill sponsored by Rep. Craig Headland which would have reduced the state’s corporate and personal income taxes by more than $500 million. “The question now is, how much will the Senate water these cuts down?” I asked in a post at the time. Flash forward to May and

North Dakota Tax Revenues Up Nearly 64% Over Last Biennium

North Dakota’s economic boom continues to drive a boom in tax revenues for the state. According to the latest numbers from the Office of Management and Budget released this morning, the state has seen a 63.6% in revenues biennium-to-date over the last biennium. So far state revenues have increased nearly $1.7 billion over the last

Senate To Vote On $350 Million In Income Tax Cuts, $250 Million More Likely To Pass

“We are bringing 1250 up to the floor for a vote,” a state Senator told me this morning. That’s the income tax cuts introduced by Rep. Craig Headland which, when passed in the House, totaled over $500 million in reductions for individuals, corporations and financial institutions. When the Senate got a hold of the bill,

Shocker: Senate Strips $375 Million Out Income Tax Cuts Passed By The House

About the only bright spot for tax relief this legislative session was a half-billion dollar package of corporate and personal income taxes passed by the House. Unfortunately, and as expected, the state Senate has watered those tax cuts down to the paltry $125 million in cuts proposed in Governor Jack Dalrymple’s executive budget. And Senate

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