Posted on Sat, Mar 30, 2013 : 2:02 p.m.
Legislators should consider impact tax decisions have on families
By Letters to the Editor
As my family and many others across Michigan file our taxes, we’re noticing something: Our taxes are going up. Gov. Rick Snyder and Republicans in Lansing are raising our taxes and taking money out of the pockets of struggling families.
Meanwhile, wealthy CEO's and big corporations got a $1.8 billion tax break.
This governor and Republicans in the Legislature must be held accountable when they take money away from hard-working families to pay for corporate subsidies.
Phil Lebarre
Ypsilanti
Comments
Sparty
Sat, Mar 30, 2013 : 9:37 p.m.
Courtesy of Snyder: ? The rate reduction from 4.35% to 4.25% was delayed until October 1, 2012. ? Special exemptions for seniors are no longer allowed. ? The $600 exemption for children 18 and under is no longer allowed. ? Special exemption for unemployment compensation greater than 50% of adjusted gross income (AGI) is no longer allowed. ? Phases out certain pension and retirement income subtractions based on date of birth. ? The deduction for reinvestment of gain from Michigan Strategic Fund investments is no longer allowed. ? Certain miscellaneous deductions (political donations; prizes won in state-regulated bingo, raffle, or charity games; charitable gifts from retirement plans) are no longer allowed. ? Removes both the gross income and the related expenses from oil and gas production if the gross income was subject to severance tax. ? Renaissance Zone deduction for zones certified or renewed after December 31, 2011 is no longer allowed. ? The credit for city income taxes is no longer allowed. ? The credit for public contributions is no longer allowed. ? The credit for contributions to homeless shelters, food banks, and community foundations is no longer allowed. ? The credit for contributions to medical savings account is no longer allowed. ? The credit for donations to Family Development Program is no longer allowed. ? The film credit for wage withholding is no longer allowed. ? The credit for automobile donations is no longer allowed. ? The credit for college tuition and fees is no longer allowed. ? The credit for an historic rehabilitation plan certified after 2011 is no longer allowed. ? Earned Income Tax Credit is reduced from 20% to 6%. ? The excess adoption expense credit is no longer allowed. ? The stillbirth credit is no longer allowed. ? Significant Changes (reductions) to the homestead property tax credit
Arborcomment
Sat, Mar 30, 2013 : 9 p.m.
You ain't seen nothing yet... Obamacare will raise your health care premiums, on average 32 percent. http://www.washingtonpost.com/blogs/right-turn/wp/2013/03/27/obamacare-fallout/
Cash
Sat, Mar 30, 2013 : 9:31 p.m.
Everything is speculation. Have a joyous weekend! I am having one! :-) What gorgeous day!
Arborcomment
Sat, Mar 30, 2013 : 9:22 p.m.
And this, also from WP and not Rubin: http://www.washingtonpost.com/blogs/wonkblog/wp/2013/03/29/how-will-obamacare-hit-premiums-lets-break-down-the-numbers/
Arborcomment
Sat, Mar 30, 2013 : 9:18 p.m.
She's commenting on this: http://news.yahoo.com/healthcare-costs-may-rise-obamacare-implemented-official-232541131.html;_ylt=A2KJ2UakUVJRfBYAm.DQtDMD Neutral enough for you?
Cash
Sat, Mar 30, 2013 : 9:10 p.m.
LOL...what did you expect Jennifer Rubin to say?
hepcat
Sat, Mar 30, 2013 : 8:09 p.m.
I am a disabled senior and my state taxes went up. Now I have less money to spend on those products that those corporations with the tax cuts make. Now there will be less demand thus more layoffs.Then the Republicans will give their fat cat buddies more tax breaks to " stimulate growth" and then have to raise our tax bills again.
Cash
Sat, Mar 30, 2013 : 7:44 p.m.
And: Changes to the homestead property tax credit: Household income replaced by total household resources. Senior claimants entitled to a credit equal to 100%if total household resources are $21,000 or less. Reduced by 4%for each additional $1,000 In total household resources until $30,000 is reached. For total household resources of $30,000 to $41,000 senior claimants receive 60% of the credit. Credit phase out applies.
1bit
Sat, Mar 30, 2013 : 8:20 p.m.
Cash, You're really going to hate the repeal of the Personal Property Tax...
Angry Moderate
Sat, Mar 30, 2013 : 7:30 p.m.
What on earth is this guy talking about--what tax rate is he referring to? Does he think that Governor Snyder is responsible for his federal payroll taxes or local property taxes, or is he complaining that his pension is no longer getting special treatment that doesn't exist in the vast majority of states? A2.com should print letters with actual content.
Cash
Sat, Mar 30, 2013 : 7:29 p.m.
Here's what the middle class and the poor lost: Special exemptions for seniors are no longer allowed. The $600 exemption for children 18 and under is no longer allowed. Special exemption for unemployment compensation greater than 50% of adjusted gross income (AGI) is no longer allowed. Phases out certain pension and retirement income subtractions based on date of birth. The credit for city income taxes is no longer allowed. The credit for public contributions is no longer allowed. The credit for contributions to homeless shelters, food banks, and community foundations is no longer allowed. The credit for contributions to medical savings account is no longer allowed. The credit for donations to Family Development Program is no longer allowed. The credit for automobile donations is no longer allowed. The credit for college tuition and fees is no longer allowed. Refundable Credits Earned Income Tax Credit is reduced from 20% to 6%. The excess adoption expense credit is no longer allow ed. The stillbirth credit is no longer allowed. More to follow.
A Voice of Reason
Sat, Mar 30, 2013 : 6:59 p.m.
Yep, and the Democrats gave billions of dollars away too. Film industry subsidies are just as bad, plus numerous other payments to union bosses that were happened under Jennifer. Hopefully the Republicans are using these tax breaks to bring permanent jobs to this state (Do you understand that we as a state need to compete for jobs with other states?) vs. the democrats who just padded the pockets of the MEA and HealthCareWorkers Union. Big corporations employ people and make products that you buy. A tax break means cheaper products, better paid employes and profits which lead to stock prices going up. The government even invests in the stock market, retirement funds benefit from a healthy stock market, and I guess everyone benefits in someway from healthy corporations. So please tell me why any of this is wrong? Other than being jealous of success, why don't you do something productive with your time. And, please take an economics class so you understand what is going on and stop just passing on the Democratic Party buzz words of wealthy CEO and Big Corporations. Please use your brain.
Topher
Sat, Mar 30, 2013 : 6:56 p.m.
I wanted to be so optimistic about Snyder and his leadership, but as someone who has continually taken a pay cut (for almost the last decade) and now pay more in taxes, it's making it very, very hard to support the governor. I remember when Snyder stated that we needed to make a shared sacrifice, and I was with him. I wish I could believe this was true, but it certainly doesn't feel that way.
michael Limmer
Sat, Mar 30, 2013 : 8:31 p.m.
Dear AM, So does that mean that the businesses that got their taxes reduced are also receiving subsidies? And how do you feel about that?
Angry Moderate
Sat, Mar 30, 2013 : 8:07 p.m.
Since many of those are refundable credits, you could just as easily say that his tax subsidy went down. Remember, many people have a negative tax rate. It's hypocritical for him to criticize corporate subsidies when his complaint is that the subsidies that benefit him (deductions) are shrinking. He's also dead wrong about the Michigan Business Tax. He must have missed the A2 articles where several CEOs (including Meijer) explain that their taxes are going up.
Cash
Sat, Mar 30, 2013 : 7:57 p.m.
While the rate wasn't increased, credits, deductions etc for the middle class and poor were taken away. The author did not say the tax RATE was increased, he said his taxes went up. In short, he paid more.
A Voice of Reason
Sat, Mar 30, 2013 : 7 p.m.
Are they local taxes or state. I believe the state rate has remained the same. Local taxes are skyrocketing and if your state taxes are going up, it is to cover retirement benefits promised to state workers.
1bit
Sat, Mar 30, 2013 : 6:53 p.m.
"Meanwhile, wealthy CEO's and big corporations got a $1.8 billion tax break." No, this is not what happened. Fixing the MBT was about small businesses being double-taxed.