One can only imagine that Tim Walz would bring his brand of Midwestern socialism with him to the White House, if given the chance.
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Tim Walz has already told us how his “grammar is not always correct” and that he’s a “knucklehead,” when trying to explain his many lies* about his personal life and military record. (*My bad. Walz is a Democrat. He “misspeaks.”)
Turns out, the former teacher and Minnesota governor probably flunked Econ 101, too.
At a recent campaign stop, Walz referred to his Republican vice presidential contender, Ohio Sen. JD Vance, as “a venture capitalist cosplaying like he’s a cowboy or something.”
“I don’t even know what a venture capitalist does most of the time,” he bragged.
Perhaps that’s something he should keep to himself, considering the job he’s running for. It’s already well known that Walz has no investments, including stocks or bonds. And he doesn’t own a home.
Walz’s lack of financial finesse just became even more clear in a new report card from the libertarian Cato Institute that ranks all U.S. governors for their fiscal responsibility.
Walz? He failed, coming in dead last.
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Walz’s big spending ways are hurting Minnesota
Cato’s report card, released every two years, takes into account data from states’ taxing and spending records. The less government intrusion, the higher the score.
Iowa Gov. Kim Reynolds, a Republican, earned an “A” and topped the list of governors for her fiscal restraint and good-governing approach.
At the far other end of the spectrum is Walz. His “F” grade is concerning since Vice President Kamala Harris tapped him to be her presidential running partner. It signals that Harris is on board for big spending – and high taxes.
“Governor Walz has overseen large spending increases and pushed major tax hikes on businesses and individuals,” report author Chris Edwards, a tax and budget expert at Cato, observed in a statement. “He seems oblivious that Minnesotans have been steadily leaving the state for more tax-friendly climates.”
Since Walz took office in 2019, the governor has regularly pushed for tax hikes, but at first he had to work with a divided government. Last year, when Democrats took control of the legislature, he was then able to push through sizable tax increases, not only on businesses and high earners but also on the middle class, to pay for new programs.
“Minnesota’s high tax rates are undermining the economy and driving away wealthy people, who include highly skilled job-creating entrepreneurs,” the Cato report states. “IRS data show that the state loses about 10 households earning more than $200,000 for every 6 that it gains.”
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Edwards told me that there is a direct link between states’ tax policies and their ability to attract and keep their populations. And northern (i.e. miserably cold) states like Minnesota have to work harder.
“People are partly moving south for the warmer weather,” he said. “But that just means that the northern states have to work harder to get their government more efficient and taxes more efficient and lower.”
Walz has done the opposite.
America needs leaders who care about spending. Harris and Walz don’t.
One can only imagine that Walz would bring his brand of Midwestern socialism with him to the White House, if given the chance.
No doubt, that’s part of what appealed to Harris in choosing him.
While Harris had tried to redefine herself as some sort of free-market capitalist, her record speaks for herself. As a U.S. senator, she beat out democratic socialist Bernie Sanders as the most liberal senator – not an easy feat.
When she first ran for president in 2019 and as a senator, Harris backed all of the left’s most offensive (and costly) ideas, from Medicare for All to the Green New Deal.
As vice president, Harris has championed the Biden-Harris administration’s illegal efforts to “cancel” hundreds of billions of dollars in student loan debt by forcing taxpayers to cover the costs. She’s also helped usher in some of the administration’s most heavy-handed legislation.
Walz is less known on the national front. Yet, his fiscal failures as governor tell us all we need to know.
Ingrid Jacques is a columnist at USA TODAY. Contact her at ijacques@usatoday.com or on X, formerly Twitter: @Ingrid_Jacques.
