|Uncle Sam BW (Photo credit: Wikipedia)|
Have you heard the news? The Michigan Department of Treasury has received unexpected windfall from State Taxpayers to the tune of $542 Million dollars!
The windfall was not entirely a surprise considering taxes were raised on the poor, middle class and Senior populations of the State to grant a $1.8 Billion dollar tax break to C & S Corporations. Yet, despite taking monetary revenue from "Joe and Jane Citizen to give to Dick and Betty Corporation" this news reported in The Detroit Free Press is quite impressive.
"General fund and School Aid Fund revenues for 2012-13 are expected to total about $21 billion, which is about $542 million more than officials estimated at the last revenue conference at the Capitol, held in January. General fund revenue is expected to decrease 0.2% from 2011-12 levels, to $9 billion, while School Aid Fund revenues are expected to increase 3%, to $11 billion."As greenbacks fill the State Coffers, residents would be right to wonder when the revenue windfall will be felt by Average Michigan Jane and Joe citizen. Or better yet for now closed Buena Vista Public Schools, where if Governor Rick Snyder (R) can find it in his "heart" fund or loan the district $1 Million dollars, children of Buena Vista could return school right away instead of in a "skills camp" over the summer.
Would it be outside the realm of possibilities to ask the working poor Michigan Earned Income Tax Credit, cut from a maximum of $600 to just $50, be restored? How about fully reinstating the previous formula for the States' Homestead Property Tax Credit for millions of Michigan's Middle Class families, or repealing the Senior Pension tax? Or explaining State Revenue Sharing payments to Cities on the brink of bankruptcy like the State's largest locality of Detroit?
It would seems that Michigan Residents would like their money back, just a bit:
See what's most important in minds of Republicans who control all offices of State Government in Lansing, is finding the next tax loophole or "Corporate Welfare" tax shift --if you will-- for the political group biggest donors. And that's not you, Michigan Middle, Lower and Senior class citizen.
"Snyder said Tuesday that the feedback he gets about the tax changes isn't all negative. He said he heard of one businessman who no longer had to pay the Michigan Business Tax -- which the Legislature abolished -- and used the savings to buy health insurance for all his employees. "That's really cool," Snyder said.
"A lot of this is for the long-term benefit of Michiganders; thinking about our kids, and being fair to one another in terms of how we have a tax system," he said."So while the state unemployment rate continues to hover around 8.5%, jobless insurance payments were cut by Governor Snyder from 26 to 20 weeks in 2011, consumer prices rose +1.3% since February 2012 and State Payroll jobs fell to an -6.6% in March 2013; Governor Snyder's measure of accomplishment is meeting the needs of ONE businessman over MILLIONS of other Michiganders.