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Post by Maxf1ex on Apr 20, 2011 3:15:23 GMT -8
thinkprogress.org/2011/03/14/rick-snyder-corporate-taxes/Michigan’s GOP Gov. Slashes Corporate Tax Rate by 86 Percent, Hikes Taxes for Working Poor I do wish it was a little clearer ... 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. ... Is a part of what is being called a tax increase really the ... Following suit, Gov. Rick Snyder (R-MI) has proposed ending his state’s Earned Income Tax Credit, cutting a $600 per child tax credit ... Hum ... ending something which many thought should never been started seems to be called a tax increase, so round and round we go with the truth getting lost once again.
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Post by george1861 on Apr 20, 2011 12:55:16 GMT -8
The EIC is nothing but a welfare handout, & as is being discussed in another Thread, business taxes are passed on to the customers. In this case it should result in lower prices in Michigan & attract businesses to the State that want to reduce costs.
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