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 approach to taxation reaches across the political spectrum
Why the FairTax idea is right for America's working families.
Mike Gravel (D), "If the rich like the FairTax, why aren't they contributing to my campaign?"
Mike Huckabee (R), "FairTax most important way to transform economy."
Ron Paul (Libertarian R), "Though not a co-sponsor of FairTax bill, I'd vote for it."
-------- The income tax scheme was enacted the same year as the Federal Reserve. The intended purpose was to ensure that "the banksters" would get their interest payments. A more efficient mechanism was introduced when Economist Milton Friedman (of all people!) suggested that income tax be withheld in 1943 (only for the duration of WWII). The politicians would NEVER let go of this. They get theirs FIRST. When I learned that Minister Farrakhan was educating his followers as to the history of the Federal Reserve and the income tax, I garnered new found respect for him:
-------- We'll admit that Minister Farrakhan is a controversial figure. But, how about the former Chief Economist of the International Monetary Fund? He is calling the Federal Reserve owners (though indirectly) by their actual status titles: OLIGARCHS! Here he discusses his doubts as to the U.S. Treasury Secretary's ability to move against their control:
Bill Moyers' asks Simon Johnson, "Can Treasury Sec. Geitner break from the monied elites?"
Johnson (former Chief Economist at the International Monetary Fund) replies, "I'm worried."
If is up to us to demand REDRESS OF GRIEVANCE to free ourselves from this tyranny of the banksters.
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