FARGO -- As a concerned North Dakota citizen and CEO of The Marcil Group, a statewide North Dakota business, I am opposed to Measure 2 on the North Dakota ballot.
Measure 2 is like a subprime mortgage: It looks good in the beginning but will end in foreclosure.
This proposed cut in personal and corporate income taxes will put our great state at risk. It is irresponsible tax policy and should be defeated. Reasons to kill this measure include the following:
** Measure 2 will result in a $175 million deficit in less than eight years.
** Measure 2 would be one of the most dramatic changes enacted in tax policy by any state in decades.
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** Measure 2 is costly -- more than $400 million per biennium. And it relies on the current economic boom in the state, which is risky given likely plummeting oil and gas revenues.
** Measure 2 is ill-conceived and unfair in that the state has one of the lowest income tax rates in the nation, and the biggest beneficiaries of the change would be higher-income individuals.
** The out-of-state group Americans for Prosperity have conducted a misleading analysis of Measure 2's impact on families by incorrectly focusing on total income rather than taxable income. They have distorted the effects and are misleading North Dakotans.
** This measure focuses on the wrong tax. The average North Dakotan is impacted by sales and property taxes, not income taxes. Americans for Prosperity doesn't get that.
** The state is positioned to invest its current surplus in K-12 education, higher education, roads and bridges and other commitments to the state's future. Measure 2 would prevent those investments that Gov. John Hoeven supports.
** Examples of states that have experienced busts following big tax cuts include Massachusetts, New Jersey and New York. This led to reductions in public services and tax increases.
Our current economic situation is sound. Responsible leaders such as Hoeven have built that foundation. We don't want out-of-state groups bringing risky ideas that send higher-education costs through the roof.
We have legitimate needs central to North Dakota interests that should be decided by North Dakotans. Measure 2 is irresponsible and threatens the prosperity we have worked hard to achieve.
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We all know the damage that can result from making bad decisions that affect an economy. Vote no on Measure 2.
Mike Marcil
Marcil is CEO of The Marcil Group. The company is not connected with Forum Communications, the Herald's parent company, which is owned by the William Marcil family.
