Skip to main content

Michigan is facing a 1.4 billion dollar budget shortfall.

To fix that shortfall, Michigan's Governor Rick Snyder is going to DECREASE taxes for large businesses to add another 1 billion dollars to Michigan's deficit, creating a $2.4 billion dollar budget shortfall.

To plug that extra billion dollar shortfall Rick Snyder is going to start taxing seniors and retirees on their pensions, to raise $800,000,000...bringing Michigan not quite back to where it started, now with a 1.6 billion dollar shortfall.

To sum up:

Snyder is giving tax cuts for large businesses ---> Using money from retirees.

Now here's something interesting...Snyder's proposed flat 6% tax on businesses is a tax CUT for most very large businesses.

But it's a tax INCREASE for many very SMALL, mom and pop businesses or start ups.


Rick Snyder's 6% flat tax is a tax INCREASE for very small businesses. And not only is it a tax's a tax increase that blows a 1 billion dollar hole into Michigan's budget.

Rick Snyder's 6% tax INCREASE on mom and pop businesses in Michigan isn't even raising revenue. It's DECREASING revenue....which as I mentioned is being plugged by taxing pensions from retirees.

See...under the current "Michigan Business Tax" which Republicans love to hate, a business making under $250,000 does not pay corporate tax. Under the current tax code, very small businesses are given time to grow and take root and start generating revenue for the state in the form of SALES TAX, and start CREATING JOBS, and when or if they get larger, then they start paying more in taxes.

Under Snyder's plan...the mom and pop businesses who have been raising and collecting tens of thousands of dollars in sales tax per year and creating jobs will see a tax INCREASE of 6% which goes directly to fund a tax CUT for the larger businesses.

Taxing middle class retirees and mom and pop businesses MORE --> to fund tax cuts for mega corporations.

And this all happens BEFORE we even start to address the original budget shortfall.

Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site