How To Turn Around Michigan: Tax Hikes And Welfare

As further proof that insanity has no bounds, a Michigan Democratic candidate for governor calls for tax hikes and more welfare.

Thoroughly disgusted minds are reading State lawmaker calls for tax hikes.

A Washtenaw County legislator and Democratic candidate for governor unveiled her plan to turnaround Michigan today � a $6.5 billion a year tax hike.

State Rep. Alma Wheeler Smith said substantial hikes in Michigan�s business, sales and income taxes are needed to make investments in education and welfare programs that will restore the state to prosperity.

Smith, a veteran lawmaker who plans to run for governor in 2010, called for hikes of:

� $3 billion in mostly business tax increases by closing so-called loopholes. The new revenue would allow the state to eliminate a �business growth strangling� 22% surcharge on the Michigan Business Tax, she said.

� $1.5 billion in new revenue by expanding the state sales tax to many personal services. The expansion would also allow the state to cut the sales tax rate from 6% to 5.5%, Smith said.

� Nearly $2 billion in higher income taxes, by implementing a graduated income tax with a new highest rate of 9.75% (compared to the current 4.35% for all wage earners), starting at $60,000 a year in income for single filers.

Michigan, if you vote for this complete fool you deserve what you get.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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