Rick Snyder, 1.8 Billion in corporate tax cuts, Taxes Elderly and poor

gimpy117 · 03-14-11, 08:51 AM

You heard right. Michigan's wacky governor is at it again, but this time hes decided to pay for 1.8 billion in tax cuts to businesses by raiding grandma and grandpas cookie jar, taxing their fixed pensions. Also, Snyder is planning eliminating many personal tax credits for middle and lower class families, Like the Earned Income Tax Credit (ETIC). This in effect Raises Taxes for low income ($22,000 a year for example) by $689.00 while a family with more than 5 times the income will have an increase of just $77.00. A tax hike is planned for families making over $250,000 a year but "Even then, their tax increase still is $6 less than the working single parent's tax hike and accounts for less than three-tenths of 1 percent of their income. That's compared with more than 3 percent the tax increase takes out of a working mom's pay."-Detroit news.
Even more distrubing is his decision to start taxing pensions and eliminating credits for seniors on fixed incomes.

But hey, Are there no prisons?, Are there no workhouses?

http://detnews.com/article/20110226/...-means-for-you

Armistead · 03-14-11, 09:09 AM

If the Governor of Florida has his way he'll lower corporate taxes to 3% and cut many programs. Course he was the head of a health insurance company that got sued for mass fraud, not to mention he took a 300 million stock option with him, so he wants to see that do well.

Platapus · 03-14-11, 09:16 AM

It could be worse. You could be in Virginia.

Our new "fiscally conservative" Republican Governor's master plan for transportation?

Take money out of the already underfunded education fund and then buy $4,500,000,000 worth of bonds. That's 4.5 BILLION dollars he wants to borrow. Deficit financing. That's some kind of fiscal conservativism there McDonnell.

What does he care, by the time the bonds are due, he will be long out of office. And best of all, next election when we elect a Democratic Governor the GOP can point fingers at the huge debt that Virginia has.

nikimcbee · 03-14-11, 09:21 AM

I like bacon

mookiemookie · 03-14-11, 09:34 AM

If they could at least point to a time in history where lowering taxes on business ever paid for itself, or even bolstered economic growth, I could see the thinking behind this. But to keep doing it when it's never worked is lunacy.

gimpy117 · 03-14-11, 09:36 AM

Quote:

Originally Posted by mookiemookie

If they could at least point to a time in history where lowering taxes on business ever paid for itself, or even bolstered economic growth, I could see the thinking behind this. But to keep doing it when it's never worked is lunacy.

it's not lunacy when you give a bonus to the buddies that pay your bills or give you free money, trips, and perks.

Armistead · 03-14-11, 12:08 PM

Quote:

Originally Posted by mookiemookie

If they could at least point to a time in history where lowering taxes on business ever paid for itself, or even bolstered economic growth, I could see the thinking behind this. But to keep doing it when it's never worked is lunacy.

The GOP is doing all it can to insure corporate america has the power.
They're doing it under the guise of capitalism. Making corporate rich has proven only one thing, a few percent are gaining all the wealth.

Just wait for the trickle down effect. If you hold your tongue out and wait for a few days you may feel a drip.

03-14-11, 08:51 AM	#1
gimpy117 Ocean Warrior Join Date: Jul 2007 Location: Kalamazoo, MI Posts: 3,243 Downloads: 108 Uploads: 0	Rick Snyder, 1.8 Billion in corporate tax cuts, Taxes Elderly and poor You heard right. Michigan's wacky governor is at it again, but this time hes decided to pay for 1.8 billion in tax cuts to businesses by raiding grandma and grandpas cookie jar, taxing their fixed pensions. Also, Snyder is planning eliminating many personal tax credits for middle and lower class families, Like the Earned Income Tax Credit (ETIC). This in effect Raises Taxes for low income ($22,000 a year for example) by $689.00 while a family with more than 5 times the income will have an increase of just $77.00. A tax hike is planned for families making over $250,000 a year but "Even then, their tax increase still is $6 less than the working single parent's tax hike and accounts for less than three-tenths of 1 percent of their income. That's compared with more than 3 percent the tax increase takes out of a working mom's pay."-Detroit news. Even more distrubing is his decision to start taxing pensions and eliminating credits for seniors on fixed incomes. But hey, Are there no prisons?, Are there no workhouses? http://detnews.com/article/20110226/...-means-for-you __________________ Member of the Subsim Zombie Army

03-14-11, 09:16 AM	#3
Platapus Fleet Admiral Join Date: Oct 2006 Posts: 19,397 Downloads: 63 Uploads: 0	It could be worse. You could be in Virginia. Our new "fiscally conservative" Republican Governor's master plan for transportation? Take money out of the already underfunded education fund and then buy $4,500,000,000 worth of bonds. That's 4.5 BILLION dollars he wants to borrow. Deficit financing. That's some kind of fiscal conservativism there McDonnell. What does he care, by the time the bonds are due, he will be long out of office. And best of all, next election when we elect a Democratic Governor the GOP can point fingers at the huge debt that Virginia has. __________________ abusus non tollit usum - A right should NOT be withheld from people on the basis that some tend to abuse that right.

03-14-11, 09:21 AM	#4
nikimcbee Fleet Admiral Join Date: Jul 2003 Location: Patroling the Slot. Posts: 17,952 Downloads: 90 Uploads: 0	I like bacon __________________

03-14-11, 09:34 AM	#5
mookiemookie Navy Seal Join Date: Nov 2005 Location: Houston, TX Posts: 9,404 Downloads: 105 Uploads: 1	If they could at least point to a time in history where lowering taxes on business ever paid for itself, or even bolstered economic growth, I could see the thinking behind this. But to keep doing it when it's never worked is lunacy. __________________ They don’t think it be like it is, but it do. Want more U-boat Kaleun portraits for your SH3 Commander Profiles? Download the SH3 Commander Portrait Pack here.

03-14-11, 09:09 AM	#2
Armistead Rear Admiral Join Date: Dec 2008 Location: on the Dan Posts: 10,880 Downloads: 364 Uploads: 0	If the Governor of Florida has his way he'll lower corporate taxes to 3% and cut many programs. Course he was the head of a health insurance company that got sued for mass fraud, not to mention he took a 300 million stock option with him, so he wants to see that do well.