Hi Mike , 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).
Why the FairTax idea is right for America's working families.
Dr. Laurence Kotlikoff believes that it will take the FairTax to reverse unfunded obligations, now above $53 trillion and counting!
At 9:36pm on November 25th, 2008, Mike Bloom said…
Small College - Small World - I don't know Tom Mitchell or Dave Grewe but. . . I have moved many times to many states since leaving NMC. I moved to Wixom, MI about ten years ago and have lived here since then. Nice to be in one spot. After movig in I met my neighbors across the street, Dave and Michelle Berry. Two years go by borrowing tools from each other and meeting in the driveway talking about our kids who are the same age. I finally told Dave it has been driving me nuts but I know I have met him before. He admitted the same. After a few beers . . . He attended NMC the same years you did. He lived in West Hall and we know some of the same people. Who ever heard of NMC? Thanks for starting the blog. Where are you?
wow, we overlapped some. I was at the college 76-78 (East Hall 76-77 and in the apartments 77-78)then lived in Traverse City in a house the winter of 79. Did you know Tom Mitchell and Dave Grewe? I think they lived in a house on Garfield around the time that you did.
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in Wixom MI??? If you do, Dave Sold my Husband a Trailer/Sailboat
almost Two Years ago, and he never disclosed that he had never had a
Title to the Trailer, and now he is refusing to refund the Money that my
Husband Paid for the Trailer/Sailboat? Just wanted you to know what
kind of Neighbor's that you Really have????????? Have you ever seen the
Sailboat called the Down Under, that is the one that my Husband was
suppose to be Buying?
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).
Please, join our email list to be kept informed!
Why the FairTax idea is right for America's working families.
Dr. Laurence Kotlikoff believes that it will take the FairTax to reverse unfunded obligations, now above $53 trillion and counting!
Where do live now?
Welcome to the group. What year(s) were you at NMC?