ST. PAUL, Minn. (AP) — Minnesota Gov. Mark Dayton made $671,724 last year — more than enough to qualify for an income tax hike under his budget proposal, according to tax returns released Tuesday.

The income, mostly from investment gains, is considerably higher than what Dayton earned in 2009, when he reported making $172,472. It’s easily enough to qualify the Democratic governor for an income tax hike under his proposal at the Capitol to increase taxes on the state’s highest earners.

The largest share of Dayton’s 2010 income — $606,919 — came from investment gains. The biggest single gain, $407,665, came from selling 8,431 shares of stock in the Target Corporation, the retailing giant that Dayton’s family founded but no longer controls.

Target Corp. became embroiled in Dayton’s race for governor last year when the company donated $150,000 to a political fund that was backing Dayton’s opponent, Republican Tom Emmer. But Dayton sold the Target stock in early January 2010, months before Target’s donation.

Dayton sold off other stock holdings in January 2010, including large shares of Johnson & Johnson, General Electric, Citigroup and Hutchison Telecommunications.

Dayton campaigned on a vow to raise income taxes on the wealthy in order to eliminate a state budget deficit which now hovers at $5 billion. He has proposed increasing the state tax rate from the current 7.85 percent to 10.95 percent for single filers who make above $85,000 and couples who make more than $150,000.

That’s estimated to raise about $2.4 billion over two years, but Republicans who control the Minnesota Legislature have been united in opposition.

Dayton’s returns show he paid federal taxes of $99,690 and $50,701 in taxes to the state of Minnesota last year. The governor released his tax returns voluntarily, and was not required to do so by law.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments (30)
  1. What a Joke!!! says:

    He didn’t work one honest day in 2010, it’s all investment income from his parents. You poor little trust fund baby. His own tax plan would not even increase his taxes; he only wants to tax people that work for their money. He’s a fraud that doesn’t even pay his own “Fair Share”

    1. Mike says:

      What a Joke? What a cry baby…………Get over it, he has money. At least he has the heart, fortitude, trust and integrity to be elected Governor.
      If you want to figure out a way to tax wealth, share your ideas or go have some warm milk and cry yourself to sleep.

      1. Jasper says:

        Sorry Mike your wrong. Dayton’s tax plan would not increase his taxes as they are capital gains. Sort of silly that he just wants to go after earned income and tax that at a much higher rate. He should be taxed higher, because he is wealthy. Someone who earns 250K in a single year may not be wealthy, but Dayton wants to take more from them just the same. Pathetic!

      2. Rusty Shackelford says:

        Where is your outrage now liberals? I see, you only hate those with money unless they support your twisted world views.

        1. Max says:

          Did he fraudulently get the money? No. If he earned only $672 last year you haters would be ripping him as a bad business person. It is not hating people with money. It is disliking evil mean spirited people like yourself. It is disliking the notion that everything you do you do for the money, consequences be damned. It is the selfishness that you portray. If that is twisted, so be it. Read the Bible some time.

          1. Max says:

            I have a masters in Public Health.

    2. joke's on you says:

      You must have forgotten his 6 years of service in the US Senate where he donated all but $1 of his $170,000 salary. Did I mention the word Service? I wonder why a guy who doesn’t have to work spends all of his energy looking out for the under-privleged, the middle and lower classes, and just being a generally good person.

    3. Look at all the stupidity!!! says:

      @ What a idiot, I mean joke
      Did you not read the 1st line in this story? “Minnesota Gov. Mark Dayton made $671,724 last year — more than enough to qualify for an income tax hike under his budget proposal, according to tax returns released Tuesday.” enough said. You are jealous and hating a guy that has money. What a sad person you must be.

  2. sad says:

    That isn’t bad taxes for that kind of money, if he is in the 35% bracket he should have paid $235.110,000. in Fed alone, must be those tax shelters.

    1. daytona says:

      Gains as in Capital Gains are taxed at only 15% as long as you’ve held them for a specified period. Without doing the math the total tax liiability looks correct.

      1. sad says:

        Daytona, you are correct, I was thinking he had actually EARNED the money, instead he is making hay off his inheritence.

  3. thumbody says:

    Good for him God Bless America!

  4. merks says:

    I wonder how gov. trust fund baby would feel about higher taxes if he had actually earned the money!

    1. daytona says:

      I’m sure he’d be fine with it since he gives much of that unearned income to people like yourself.

      1. @ daytona says:

        Really? Who does he give to? Look at his tax return; he gave less than 1% to charity. He’s as greedy and unethical as the rest.

        1. Ralph says:

          @merk or @ @daytona His share of the trust gained the income, not necessarily paid out to him. The family’s fortune was in the family fund, not several funds. He may have income and not have money. He had a lot of expenses last year like 3.9 million of his own money into the campaign.
          Check the list of contributors through the years on candidates. Do you think the people are giving politicians and PAC money out of the goodness of their hearts. Dayton spent his own money so he only answers to the electorate.
          Honestly, do you guys even think a little bit before you spew?

        2. Nigel says:

          Family trust not, not individual trust fund. Mark Dayton does not control it. Merks sounds like he has the same kind of other people envy spoken of welfare recipients. (A very whinny somebody got something and I did not) @Daytona spewed out something that has no proof. In 2010 Dayton spent 3.9 million of his own money on the run for governor. Do you think that might have cut his giving down. Check out how much any of the Republicans spent of their own money on their campaigns and how much of their money did they give to charity.

  5. Shizzy says:

    “Earned” is a funny word for this dork. He would be flip’n burgers if Daddy and Mommy weren’t rich! He bought the governorship, just like his parents bought him a wife…wait…he doesn’t like women…

    1. Betty says:

      Burned once and never again There are plenty of unmarried divorced people out there. If he keeps his private life private, so much the better. He likes dogs. So what. There are plenty of guys who will claim their dog is a better companion that their wife. Have some basis for your rant otherwise it comes across as being petty

  6. dotherightthing says:

    Daytoin could be living anywhere in the world not working if he wanted it that way, if you knew the man you would know his parents raised him with strong ethics and a public servants heart. Mark Dayton could be supporting the tea party looking after his own best interests however he chose to support the 95% of minesotans instead, the midle class and the poor. Unlike his counter part, the Reublican party who support the richest 5% of minnesotans by not allowing the richest 5% to get taxed at the same rate the poor and middle class are being taxed at, Instead the Republicans prefer you do without basic services, Dayton has a posative plan for minesota which has worked and was successful under the Perpich administration, its sad seeing people who are so ignorant making such crappy comments about a great man.

  7. Kally says:

    Somethings about Dayton I do not like such as this, a tax hike that he just does not have to pay, he will get big bucks from others in the same boat. If he got all his money from a pay check then he would be jacking up the capital gains tax, and then get big bucks from other big pay check people…do we all get it now.. it is all about the money. But Dayton supports the Vikings and state owned casinos so I’ll give him a break…for now.

  8. Jerome says:

    I am not totally sure of this but I think so, most rich people make their money as capital gains. Neither party is going to touch capital gains as who gives the majority of the money to the political parties? Rich people.

  9. Inbreed says:

    Freakin morons….of the people….from the people….GET EM OBAMI !!!!!!!!!!!!!!!!

  10. Rosco says:

    got rid of it before his tax hike kicks in. what a bum.

  11. Jake says:

    What happened to my comment earlier? It wasn’t offensive! Do reported comments get taken down without being read or if the wcco staff are liberal?

  12. john the independent says:

    if dayton is serious about taxing the rich, why doesn’t he open up the trust fund (that he gets his money from) to taxation? no,
    no, he’s not going to do that just like some of the other rich democrats who have there money protected from taxation. they have no intent to tax themselves just like some of the rich republicans.
    these are politicians and they will say all sorts of things to get elected and mark dayton is the same.
    do you remeber when paul wellstone first ran for the senate, he said he would only serve 2 terms and not run again?( if you remember, that was a popular idea at that time) How many times did he run? 3
    do you remeber when wellstone wanted to put a halt to PAC money in campaigns? what did he do when he ran a second time? he accepted PAC money.
    do you remember when george bush sr. ran for president, he said read my lips, no new taxes. What did he do when he was elected? he imposed new taxes
    when obama ran for president, didn’t he say he was going to close down guantanamo? is it closed down yet? no, wait, he said he’s not going to close it down
    these are politicians and they will say all sorts of things to get elected.
    if you believe them, then shame on you

  13. John Sherman says:

    Gee now we have a rich governor that qualifies him right up there with the rich owner and players golly all you DFL’ers there are rich ones among you.

  14. Patriot says:

    Thank you, Governor Dayton, for considering public service and following through. After all the insane bills I’m reading about that are presented mostly by Republicans, but a few by Democrats, I am glad you are there to veto them. If some of the posters here would look at these bills, they would see that the Republicans will spend money on frivolity in a heartbeat even though we need to balance the state budget.

  15. People = sh!t says:

    I guess john the independent has no idea what a blind trust is. You cannot do anything but get a check from it. You have no control over anything else.
    To the rest of you that are saying he is a trust fund baby and worthless, what the heck do you think any of the other republicans that you like are? You think W made his own money? The world must look so strange from your eyes. How is the view with your head that far up your a$$?

    1. john the independent says:

      actually i do know what a blind trust is. and yes dayton and all the other politicians who say that they will raise the taxes on the rich can eliminate this loop hole by changing the law. but do you think dayton is going to do that? he only wants to tax some of the rich but not himself.
      and in response to patriot, come on, do you think the republicans are mostly responsible for insane bills. take a look at all of them and not just a few and you will see that it comes from both sides of the aisle fairly equally. and while you are at it, take a look at all the “little amendments” that are tacked on not by the bills sponsor(s) but by different representatives who want to get something for their district or want to get some legislation passed that doesn’t have a chance to be passed on its own. what do you think is helping to drive up the cost of all these things? some bills , on their own, are good. but when you see what else is added on, it’s basterdized

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