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Flora Newblatt
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Glen Arbor, Mi, United States - Share
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inauguration/ what a day to be alive
What a day to be alive, Friday, January 23, 2009 1:01 PM Never could I imagine being part of such an historic event. The atmosphere was electric and although the crowds were something I had never experienced before, there was a calm and peaceful feeling to them. Although the crowd was calm it was filled with excitement, people wanting to help each other get through the cold and damp day. Everyone waiting to see our next president be sworn into office. The most exciting part of this for me w… Continue
Posted on January 23rd, 2009 at 2:30pm — 4 Comments
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To try to fix Michigan's tax system, the legislature enacted the Michigan Business Tax. Trouble is, the MBT still remains a gross receipts tax - which was the problem with the Single Business Tax it was designed to replace. We've been working hard to get the word out about a fairer, progressive consumption tax plan known as the Michigan FairTax. In order to give Michigan voters the power to choose, we are laying the groundwork for a ballot drive to get the Michigan FairTax on the 2010 general election ballot.
What's more, every Michigan resident-family will receive a monthly "prebate" check, in amount based on family size (.0975 x $ [ poverty level per 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. Thus, the MI FairTax rate would effectively be 0% on all monthly family spending up to the monthly poverty level, thereafter it would be 9.75%. A reasonable average effective rate, inferred, would be about 5.5% (that's without putting anything away!) Monies placed into savings are not available to spend, and therefore would result in a further effective tax rate reduction.
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(We seldom email state-wide, generally notifying members nearby to events or initiatives.)
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Under a FairTax system, points of collection will be dramatically reduced (from millions of individuals to considerably fewer retailers, many of whom are already collecting sales tax). With a Michigan FairTax, income tax-- returns, audits, interest, and penalites vanish.
Under the current system, service providers must recoup income tax withholding and compliance costs, and oftimes Michigan consumers are the ones who pay these "hidden taxes" via higher prices. The FairTax will externalize currently-invisible, price-embedded costs, making them visible to consumers. Because of this, Michigan exporters will be able to identify and remove the FairTax, prior to shipment, making Michigan products more competitive, globally. The MI FairTax is NOT applied to non-retail, business-to-business purchases, as this would, again, inseparably embed taxation costs in prices of finished goods and services.
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Made popular by the federal FairTax bill (H.R. 25, which was either co-sponsored or otherwise endorsed by several 2008 presidential candidates), this approach to taxation reaches across the political spectrum
Why the FairTax idea is right for America's working families.
Dr. Laurence Kotlikoff believes that it will take the FairTax to reverse unfunded U.S. government obligations, now above
$53$60 trillion and counting !