Michigan’s GOP Gov. Slashes Corporate Tax Rate by 86 Percent, Hikes Taxes for Working Poor

[cal04]

Michigan’s GOP Gov. Slashes Corporate Tax Rate by 86 Percent, Hikes Taxes for Working Poor
http://thinkprogress.org/2011/03/14/rick-snyder-corporate-taxes/#

As we’ve been documenting, several conservative governors have proposed placing the brunt of deficit reduction onto the backs of their state’s public employees, students, and middle-class taxpayers, while simultaneously trying to enact corporate tax cuts and giveaways. Govs. Rick Scott (R-FL), Tom Corbett (R-PA), and Jan Brewer (R-AZ) have all gone down this road.

Following suit, Gov. Rick Snyder (R-MI) has proposed ending his state’s Earned Income Tax Credit, cutting a $600 per child tax credit, and reducing credits for seniors, while also cutting funding for school districts by eight to ten percent. At the same time, as the Michigan League for Human Services found, the state’s business taxes would be reduced by nearly $2 billion, or 86 percent, under Snyder’s plan:

Business taxes would be cut by 86 percent from an estimated $2.1 billion in FY 2011 to $292.7 million in FY 2013, the first full year of the proposed tax changes…Taxes on individuals from the state income tax would rise by $1.7 billion or nearly 31 percent, from an estimated $5.75 billion in FY 2011 to $7.5 billion in FY 2013, the first full year of the tax changes.


As the Institute on Taxation and Economic Policy found, the practical upshot of Snyder’s tax increases is to place even more of a burden on Michigan’s poorest residents, who will see a bigger hike than those at the upper end of the income scale:

http://www.milhs.org/wp-content/uploads/2010/08/FactSheetAllPainNoGain.pdf
Gov. Snyder’s Personal Income Tax Proposals Impact Low-Income Households the Most

[dennis4868]

1. It's Obama's fault....

:shrug:

[Bandit]

7. Be curious what he has done to counteract it.

What speach did he give,talking about the HUGE Tax Increases on the middle class while cutting taxes for the wealthy? How has he used the Bully Pulpit to promote Progressive Taxation? Oh I forgot he went along with the Republican Plan to continue Tax Cuts for the wealthy while cutting most Social Programs and ramping up his two billion dollar a day war habit..

[roguevalley]

10. he and everyone else who supported the tax cuts for billionaires

have lost all moral authority. Probably better they keep their damned pie holes shut.

[dennis4868]

11. That's right...

It's Obama's fault....
shit, I have a pimple on my ass....fuck that Obama, it's his fault....oh, and my son lost his sock this morning....Obama's fault too.....IT'S ALL OBAMA'S FAULT!

[Bandit]

12. Whimper away but I notice you couldn't answer the question.

:shrug: Obama has an obligation to speak out and he has not done so. Obama has made numerous promises that he either will not or can not keep yet he keeps making them. I would like nothing better than for Obama to be the person I thought I was voting for..He is not..He will capitulate in the very worst way..Tax Cuts for the very wealthy and then cutting aid for the most vulnerable..

[marmar]

2. Proof that he and Walker (and Kasich and so on) were installed to do exactly what they're doing.....

....... and shame on the dumbasses who feasted at this banquet of bullshit and voted for them. As a result, those of us with a clue have to suffer along with them.

[HereSince1628]

6. Well, it suggests that it's a coordinated multi-state attack

by a national political party.

And there is NO party offering a coordinated national counter punch.

Which sort of suggests that someone somewhere in the second party finds this acceptable.

That OUGHT to be just a tad bit concerning to those of us who thought we were valuable members of the later party.

[savalez]

9. I wonder if Meg Whitman was part of that.

She sure spent a lot of money trying to win California. She must have known she'd get it back.

[Starry Messenger]

3. k&r

[SpiralHawk]

4. "You little people can eat shit and die." - RepubliCorp, Inc. (R)

"...after you pay OUR fair share of taxes. Smirk. Sneer."

_ RepubliCorp, Inc. (R)

[Drale]

5. If there is ever an armed uprising against a state government

We now know where it will begin.

[Release The Hounds]

8. Sure, but just think of all those jobs that will be created

and no one will be poor anymore.

Just in case

:sarcasm: