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4 Bumps

Raise taxes for the working poor, lower taxes for corporations?

So our Gov. has proposed eliminating the EITC to help close the budget gap, while lowering taxes for corporations to encourage growth.

My family does not benefit from the EITC and as the wife of a small business owner i can verify that the Michigan Business Tax sucks (plus we don't have a team of fancy accountants to help us evade our taxes), but something about this plan feels a little one sided.

http://www.freep.com/article/20110129/NEWS06/101290416/Snyder-sheds-light-his-plan-overhaul-Michigan-tax-system

All of our republicans vowed not to raise taxes but feel justified in doing so in this case because they are balancing the raise for the working poor with a cut for corporations. 

Answer Question
 
UpSheRises

Asked by UpSheRises at 2:48 PM on Jan. 31, 2011 in Politics & Current Events

Level 31 (48,798 Credits)
Answers (22)
  • Yeah, it totally makes sense to tax people more who can less afford higher taxes and tax the large corporations less when they can afford to pay more.
    CraftingMama

    Answer by CraftingMama at 2:52 PM on Jan. 31, 2011

  • With Michigans history, maybe all that you can do right now is wait for an increase in business, businesses, business revenue and business tax revenue with an increase in sales and thus more jobs. At some point in the future when tax revenue comes in because of more jobs and business sales, the EIC may be reinstated. Just watch and remember. jmo
    jewjewbee

    Answer by jewjewbee at 2:53 PM on Jan. 31, 2011

  • If the EIC is eliminated, they might want to think about upping procedes to PA. I see nothing wrong with this. There is section 8 for housing, utility help, childcare help, food stamps. What is the EIC for? Spending money??
    Candi1024

    Answer by Candi1024 at 3:04 PM on Jan. 31, 2011

  • – collapse

    Who told them to be working poor?


    I didn't.

    mustbeGRACE

    Answer by mustbeGRACE at 3:09 PM on Jan. 31, 2011 (hidden) + expand

  • How do YOU propose to bring jobs to Michigan?
    grlygrlz2

    Answer by grlygrlz2 at 3:11 PM on Jan. 31, 2011

  • Is it really all that surprising? Large corporations have gotten tax breaks for years plus a lot of loopholes they can crawl through and of course the tax breaks on profits made overseas. It's not that our law-makers don't understand that tax breaks for large corporations do not cause them to create jobs and hire people, it's that they are protecting the wealth of their friends....you know, the ones who contribute thousands if not millions to their election/re-election campaigns.
    meriana

    Answer by meriana at 3:12 PM on Jan. 31, 2011

  • How do YOU propose to bring jobs to Michigan?


    Answer by grlygrlz2 3 minutes ago


    Well the Michigan Business Tax has got to go for sure, it discourages small business growth for sure. I don't know if jobs are coming back. Not to be debbie downer, but i think it may just take us some time to adjust to being a less populated, less robust state than we were.

    UpSheRises

    Comment by UpSheRises (original poster) at 3:24 PM on Jan. 31, 2011

  • Large corporations have gotten tax breaks for years plus a lot of loopholes they can crawl through and of course the tax breaks on profits made overseas. It's not that our law-makers don't understand that tax breaks for large corporations do not cause them to create jobs and hire people, it's that they are protecting the wealth of their friends....you know, the ones who contribute thousands if not millions to their election/re-election campaigns


     BINGO- and NO CT cut is going to propel them to bring jobs back to the US- unless American workers are willing to work for foreignwages. Cake and eating it too- They are protecting themselves too- many politicians also belong to BB families

    Sisteract

    Answer by Sisteract at 3:28 PM on Jan. 31, 2011

  • IMO ALL credits should be eliminated...those to individuals and those to corps. ANY "credit" is nothing more than PA and honestly we can no longer afford it.

    As a business owner and a manufacturer I would love to get to have some input on what would help bring jobs home. I don't think the govt really cares...the more people dependent on them the more votes they get come election time.
    yourspecialkid

    Answer by yourspecialkid at 3:35 PM on Jan. 31, 2011

  • Everyone thinks we need to revamp the tax system. If they would just work on that and go to a flat tax we would not have to worry about any of this haggling.
    itsmesteph11

    Answer by itsmesteph11 at 3:39 PM on Jan. 31, 2011

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