| 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. |
