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The tax shift that was supposed to create prosperity, but only made people poorer

by: Eric B.

Thu Jan 17, 2013 at 16:59:18 PM EST


Cut taxes on the job creators, we were told, and they'd create jobs ... apparently absent increased demand on the part of consumers. It was a wise strategy to make people pay higher taxes to alleviate the suffering of corporations. How's it going to work out in the real world ... ya know, the one where people have to pay bills.

But Fulton went on to say that Michigan will have weaker growth than the rest of the U.S.

That’s in part because Michigan has passed new taxes on retirees’ pensions. There’s a smaller tax credit for the working poor. Special tax exemptions for seniors and children were eliminated and the homestead property tax credit for homes valued at more than $135 thousand was eliminated.

Most businesses might be benefiting from lower taxes, but because the people won’t have as much purchasing power due to higher taxes, businesses can expect their customers to spend less this year.

In other words, the real job creators aren't business owners. The real job creators are people who patronize businesses, and create real demand.

Eric B. :: The tax shift that was supposed to create prosperity, but only made people poorer
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Mississippification (4.00 / 3)
The sad thing is that this is entirely the intent, and we've had state after state to take example from.  This is the Mississippification of Michigan.  First they'll make us Indiana and then they'll make us Mississippi, and we were long on our way down that road even prior to Snyder because of the decline of American manufacturing, so this is just the coup de grace.

Michigan, brought to you by WalMart.


True (4.00 / 4)
Had a conversation with someone this week who was in a position to know and understand the authentic Rick Snyder.  Which is pretty much the Snyder we have all come to know through his actions.  He is indifferent to politics, is whip-smart without any real wisdom about things, ostentatiously displays his wealth in an over-the-top mansion and deeply equates economic progress with improving profits for corporations.  Snyder, I was told, is solidly aligned with the corporate agenda of access to low-wage workers.  Michissippi indeed. It's policy folks. We are fucked for at least two more years.  

[ Parent ]
When will voters learn (0.00 / 0)
if you elect an out of touch CEO, you'll get government that favors big business over the voters? My tax increase would cover my car payment.

When did Republicans become the party of tax increases?


We've been Gatewayed (0.00 / 0)
There is no doubt about this.  He was the best of bad Republican choices; I still very much believe that, but that's like picking the prettiest dog at an ugly dog contest.  So, it always blew my mind that many so-called liberals thought that this guy would govern as a liberal Democrat or at least as some kind of moderate.  We'd already seen what he'd done at his previous places of employment, and yet no one would give Virg even the time of day to consider him as an option, because "businessmen know best" right?

[ Parent ]

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