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What's getting lost in the shouting over Gov. Rick Snyder's budget proposal is that it is designed to serve two purposes. Yes, it is vital that the budget be honestly balanced for the first time in a decade. But the spending plan also must serve to attract jobs to Michigan.
If it doesn't, it fails, and the state is doomed to continue wallowing in economic stagnation.
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From The Detroit News: Editorial: Cutting business taxes will lead to more jobs and higher wages in Michigan | detnews.com | The Detroit News (http://detnews.com/article/20110313/OPINION01/103130304/Editorial--Cutting-business-taxes-will-lead-to-more-jobs-and-higher-wages-in-Michigan#ixzz1GUD7MGY9 - broken link)
Limousine liberals want to load up taxes on the working class while utilizing high priced accountants to take advantage of offshore tax havens and protect their own ASSEtS!
He's cutting business taxes and adding taxes on pensions and taking away property tax credits for seniors to make up for those tax cuts. So he's balancing the budget on the backs of people who can least afford it.
Limousine liberals want to load up taxes on the working class while utilizing high priced accountants to take advantage of offshore tax havens and protect their own ASSEtS!
Limousine liberals?
The Michigan governor is a republican and a "non-politician". He's been a businessman, a CPA, a CEO and a venture capitalist prior to this, his first elected position.
The Michigan Senate is currently in the hands of the Republican Party, 26 to 12. The Michigan House also is currently controlled by the Republicans, 63 to 47.
Even the Michigan Supreme Court (with elected judges) has a 4-3 Republican majority.
Exactly where are the liberals loading up taxes on the working class?
The Small Business Association of Michigan ran Snyder's proposal to tax corporations at a rate of 6 percent of income and small business at the individual income tax rate past its members and received an enthusiastic response. Forty-eight percent said they would add more jobs if the plan passes; 52 percent said they would expand their business; and 51 percent said they would buy new equipment.
Half said they would raise the wages and benefits of employees.
Larger companies also believe the new tax rate would stir growth. Business Leaders of Michigan polled its members and one-third say it would encourage more hiring.
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Michigan ranks 48th in the complexity of its business tax code, and 38th in overall business tax burden, according to the Tax Foundation. None of the state's assets will offset such an unfavorable tax climate.
Snyder's plan would move Michigan to 16th on the list of states with the lowest business taxes.
He's cutting business taxes and adding taxes on pensions and taking away property tax credits for seniors to make up for those tax cuts. So he's balancing the budget on the backs of people who can least afford it.
YES he is. It seems to be a master plan with the new rep. govs. Mess over the little man.
YES he is. It seems to be a master plan with the new rep. govs. Mess over the little man.
Yes, a master plan to help the rebirth of Michigan's economy
Bad-in-Economics liberals tried their way in this state for 40 years, that didn't work.Pro-business policies now, let's be serious
I'm anxious to see the ongoing effects of this. I expect it to be positive. Maybe this black hole of CA can take a lesson from this.
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