Nice to meet you Carter
Corner of Cass and Front December 11 Nice to meet you Carter
You never know who you will run into on the sidewalks of Traverse City. On this chilly December morning, at the corner of Cass and Front the gals at Visit Up North Vacation Rentals enjoying their daily powerwalk, had the pleasant surprise of running into Carter Oosterhouse, the HGTV darling that we all wish would offer to remodel something in our home. (Yes Virginia he is very handsome in person too) Imagine our delightful surprise when the most gracious Carter allowed us a photo moment in his otherwise, we are sure, very busy schedule. Thank you Carter and thank you for including Traverse City in your programming.
http://www.visitupnorth.com
http://www.visitupnorth.com
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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).
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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!