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Hi Cheryl , I’m the Internal Communication Director for the Michigan FairTax Assn. As you’re aware, our state legislature has recently enacted the Michigan Business Tax [MBT] as a response to ending the Single Business Tax [SBT] (a gross receipts tax). Our goal is to inform Michiganders about a proposed Michigan FairTax alternative that would both simplify, and stimulate, Michigan's business / jobs climate in order to stem the mass-emigration of businesses and families currently taking place.
The proposed Michigan FairTax would REPLACE the income tax and current sales tax, with a consumption tax (sales tax at point of retail sale). Under this plan, no more state tax will be withheld from Michigan wage-earners' paychecks. What's more, every Michigan resident-family will receive a monthly "prebate" check, in amount based on family size. This will ensure that NO Michigan family will EVEN BEGIN paying the MI FairTax on goods / services unless, or until, they exceed poverty-level spending.
Under the MI FairTax plan, points of collection are substantially reduced to just retailers, many of whom are already collecting sales tax. Because service providers must account for income tax withholding and compliance costs, their prices carry a hidden tax which a FairTax will make visible. (Business-to-business purchases would not carry the tax, as this would, again, hide the cost of taxation in prices.)
Because of the "prebate" (advance rebate calculated as .0975 x $ [poverty level spending per family size]) to ALL Michigan-resident households, the MI FairTax rate would effectively be 0% on all monthly family spending to the poverty level; thereafter it's 9.75%. A reasonably inferred average effective rate would be ~5.5% (see p.2 of pdf brochure, also review an economic analysis [pdf] on MI FairTax effects prepared by the Hillsdale Policy Group).
Hey Kid, are you loving this snow? Notice my new and updated photo.....I figured it out...yeah. Are you wrapping and sending off packages today from Known Books? It's a good day to stay inside. We had guests drop in last night to stay for 2 days with us at the Korner Kottage. They are from Brooklyn. We let them try out our snow shoes...can't wait for their snow report. Have a good one.
By the way...loved your "holiday" entry. You are so eloquent, which makes me very jealous of your talent. Your thoughts were much appreciated by Jim and I, as is your friendship.
Do you need some help wrapping and packaging this afternoon? I would be glad to come and help. Just call me when you get down there if there is something I can do to help...just don't want to get in your way.