Sunday, October 05, 2014

Yes, the "take money from citizens and give it to government" morons are back. They never give up. NEVER!-----Rick Haglund: It's time for Michigan to consider a graduated income tax

Rick Haglund: It's time for Michigan to consider a graduated income tax | MLive.com:
"It's time for Michigan to have a serious conversation about ditching its flat-rate personal income tax and implementing a graduated tax.
Enacting a graduated income tax would add fairness to the state's tax system by requiring those with higher incomes to pay a bigger share of their incomes in taxes.
Those with smaller incomes would pay a smaller percentage of their earnings in state taxes.
Michigan is just one of seven states with a flat tax rate among the 43 states that have an income tax.
A graduated income tax could provide the state with more revenue to support the rising costs of government services while at the same time giving a break to the majority of taxpayers.
In 2009 the Michigan League for Public Policy proposed eliminating the state's flat income tax rate of 4.35 percent (it's 4.25 percent today) and replacing it with three brackets.
Those making up to $20,000 a year would pay 3.9 percent while those earning between $20,001 and $60,000 would pay 4.35 percent.
Incomes above $60,000 would be taxed at 6.9 percent.
The league's study found that this graduated tax system would generate $600 million more in state revenue in its first year while giving a tax cut to 90 percent of tax filers.
A graduated income tax would bring in more revenue from those at the top of the income scale, who are responsible for virtually all the state's income growth."

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