Michigan Income tax increase 2007 "retro-active" (house, lease)

[Siberia]

Does anyone know if the pending income tax increase in michigan (.4-.7%...still pending) will be "retro-active" for the entire 2007 tax year, or will it apply starting with income for 2008 and beyond?

Thanks!

[HockeyMonkey123]

Not certain - but - most likely retroactive - = windfall for State coffers and, of course that IS the object, is it not? Bear down, Michiganders - this ones gonna sting a bit... Hey, Jenny - did someone say 'I C E B E R G - DEAD AHEAD!!??!'

[Br1234]

If it is I calculate 1125000000 (yes billions), 1.5B (@4.35%) x .75 (Jan. 1- Sep. 30) in windfall earnings. I wonder what they will do with it?

People need to learn: the only core-value of the democratic party is to raise taxes and create the most socialist environment possible. SOCIALISM DOES NOT WORK.

I fear we will have to play out the leftist desire to become a socialist republic BEFORE we will be able to give up the notion, I hope it only takes a few years and not decades like in europe and Asia. Funny how the rest of the world (the former socialists) is running from socialism as fast as they can but the Americas are running towards it.

[sweettart]

I think if the state of Mi shuts down it will only cause more problems ...what about the people that are trying to make a living on there own but they need help with child care...If ya can't afford child care then you can not go to work then you lose your house then what ... I think all the people in the government need to take a paycut like maybe 50%to 75% ... After all it is the government that got us into this...

[magellan]

Originally Posted by Br1234

If it is I calculate 1125000000 (yes billions), 1.5B (@4.35%) x .75 (Jan. 1- Sep. 30) in windfall earnings. I wonder what they will do with it?

People need to learn: the only core-value of the democratic party is to raise taxes and create the most socialist environment possible. SOCIALISM DOES NOT WORK.

I fear we will have to play out the leftist desire to become a socialist republic BEFORE we will be able to give up the notion, I hope it only takes a few years and not decades like in europe and Asia. Funny how the rest of the world (the former socialists) is running from socialism as fast as they can but the Americas are running towards it.

Considering that the state has a $45 Billion budget, why would $1.5 Billion be a "windfall"?

Put down the Ayn Rand books and let's get back to reality, shall we?

[Frankawitz]

Well at least She kept Her word on one thing most of us in this State of Michigan will feel the mighty Wind of Jenny Grandholes Plans. I didn't see anything about a .4% or .7% I saw 4.3% Increase Yeah that looks like a BLOWN AWAY to me. Live in this State for the past 50 years now I'm being FORCED OUT by a Tax Plan that will choke everyone. But the State workers and anyone in the State Goverment Office. Bend over and smile Jenny's coming

[suydam]

I honestly don't understand something...and I'm hoping people can explain this to me.

First off, this is totally not rhetorical, and I'm completely not trying to start an argument.

Here's my question...please answer rationally: The state has a democratically controlled house and a republican-controlled senate, right? They have to give the governor the budget to sign (she's a democrat). Why, when she hasn't even seen their budget yet, is everyone blaming her for raising taxes? Doesn't any tax-increase come from the legislature (which is 1/2 democrat and 1/2 republican)?

I'm honestly confused. Please answer as though you were explaining to someone without a political agenda (because this particular question of mine has no agenda).

Thanks!

[TaxBait]

Originally Posted by suydam

I honestly don't understand something...and I'm hoping people can explain this to me.

First off, this is totally not rhetorical, and I'm completely not trying to start an argument.

Here's my question...please answer rationally: The state has a democratically controlled house and a republican-controlled senate, right? They have to give the governor the budget to sign (she's a democrat). Why, when she hasn't even seen their budget yet, is everyone blaming her for raising taxes? ...

She has stated emphatically that she will not sign a budget that does not include a tax increase. So effectively she's holding the process hostage.

[BrytEydBelle]

It doesn't seem like it should be legal to do a retroactive tax increase. Yes, lets punish the people who actually work, that is logical. My husband and I can't afford that. We were trying to stay in the state, but with the mismanagement and now this mess, why bother. At this point, I don't see how Michigan will ever recover. As someone upthread mentioned, the government are the ones who need drastic paycuts, as they are the ones who got us into this situation. I mean, I'm not an extremely important person at my job, but if I got us into a deficit, I would be fired. Maybe Michigan should just function without government.

[Siberia]

I find it amazing that the Michigan government could hit us all with any percentage tax increase at the end of the year, and we then have to figure out how to come up with the extra dollars to pay it. Will it be a .4% increase, a .7% increase, 1.5%, etc...do we need to save up $350, $700, $1200 dollars? Perhaps we shall call it the Xmas tax, as many families will have to tell their kids that grandmole needs their toy money this year, and in return promises food stamps when their mommies and daddies go bankrupt soon after.

Well at least think on the bright side, with the shutdown and Grandmole illegally paying some of the employees during the shutdown, perhaps someone will take these government con artists to court and get them thrown in jail. Now that would be worth a tax increase...