MI FairTax will end excessive tax compliance costs (hidden in prices), provide more disposable family / business $'s, and make MI *the* biz+jobs destination!
The Michigan legislature not long ago enacted the Michigan Business Tax [MBT] as a response to public pressure to end the Single Business Tax [SBT] (a gross receipts tax, taken before expenses). Trouble is, the MBT still remains a gross receipts tax - and Michigan is sinking - daily !.
" Let's pay taxes when we SPEND our money, not when we EARN it ! "
Our goal is to do REPLACE the income tax system in Michigan. Concerned citizens in Michigan have been learning about a fairer, progressive consumption tax plan known as the Michigan FairTax. In order to give Michigan voters the power to choose, we are underway with a campaign to place the Michigan FairTax on the 2010 general election ballot.
The Michigan FairTax will both simplify, and stimulate, Michigan's business / jobs climate in a dramatic and ongoing basis. It will replace the income tax and current sales tax, with a consumption tax (sales tax at point of retail sale) while un-taxing all purchases up to poverty level. This means that no more withholding of state tax 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.
Eliminating inefficiency. No more business income tax costs in consumer prices.
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). Michigan wage-earners will no longer experience income tax collectors adding interest and penalties to tax bills they only found out about after their return was prepared (and PAID for) at the end of the year. With a Michigan FairTax, income tax returns, audits, interest and penalites vanish.
Because service providers, under the current system, must account for income tax withholding and compliance costs, Michigan consumers pay a hidden tax in higher prices which will become visible under the MI FairTax. (The MI FairTax EXCLUDES business-to-business purchases as this would, again, hide the cost of taxation in prices.)
(We seldom email state-wide, generally notifying members nearby to events or initiatives.)
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Protects basic necessities. No more tax shelters for big spenders.
Because of the monthly "prebate" check (calculated as .0975 x $ [ poverty level per family size] ) to ALL Michigan-resident households, the MI FairTax rate would effectively be 0% on all monthly family spending up to the monthly poverty level, thereafter it's 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 reduce a family's effective tax rate.
What's more, interest earned on savings would no longer be taxed. Accumulating capital for desired goods is easier under FairTax. Further, "higher tax brackets" vanish under MI FairTax. So, go ahead. Work overtime! It's yours. The state only gets paid, when YOU DECIDE to go shopping!
Less credit cards, more savings!
Under MI FairTax, banks will rely less on credit card payments ("getting blood" from paychecks that are already compromised by income tax withholding) because with more disposable income, families will save more. Bankers will have greater deposits to loan - at lower interest rates - to a healthier economy of more businesses employing more people.
MI FairTax turns the current debt-driven financial system (benefitting those who lend) to a savings-driven system (benefitting those who save).
" Act. Right now - ' light your candle ' ! "
Join our email list to learn how you can help advance the Michigan FairTax plan.
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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 consumption approach to taxation has broad professional support, and reaches across the political spectrum (view the following short videos)
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$88 trillion and counting !
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At 4:22pm on February 18, 2009, The Watchmen said…
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We, the people of Michigan, are alarmed, and we have taken to the streets because of what we sense is the loss of proper respect and service by those we’ve sent to Lansing (and Washington) to represent US! However, unless our Michigan Tea Parties can channel energy into a vehicle of concrete action, the past century has shown us that we’re likely to continue to proceed down the path to less freedom, fewer liberties, less economic opportunity, more taxes, and larger government!
admin on 23 Dec 2009 11:15 am
President Obamas plan to pump more than six hundred billion dollars into U.S. defense next year has outraged many Americans. Rescuers whose health suffered after working at Ground Zero say the government should pay for…
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