State Dems would kill the golden goose
Michigan Democrats never learn the proven lesson that tax hikes that make the state less at tractive and competitive ultimately produce less revenue.
Democrats in the Senate offered their alterna tive to the painful but necessary spending cuts proposed by their counterparts in the House and by the Senate's GOP majority.
It amounts to an array of new taxes, including a higher estate tax on multimillionaires. The wealthy are the most mobile people in the world. Many of Michigan's richest retirees already declare Florida as their official residences to avoid their home state's oppressive taxes.
Why would Senate Dems think the wealthy would stay here and allow their estates to be ran sacked by the tax man when they can pick up and move? Michigan isn't that attractive.
Similar policies in California have created a steady out-migration of rich residents.
Ideas like this will drain the state of what little wealth it has left.
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CyberSurvey: Pay too much in taxes?
The rich in Michigan dont have to move to avoid these crazy tax proposals; they probably already own a home in another more tax friendly state and all they would have to do is sign a couple of forms and its a done deal..
Killing the golden goose
Nolan,
I think the democrats have learned that lowering taxes does generate increased business and revenue, but the problem is that they only use it as a lure to get a business here and then they raise the taxes on that business.
Case in point - the movie industry. Does anyone doubt that the tax incentives have not generated significantly increased number of film projects in Michigan, or that the dollars spent by these projects do help many Michigan businesses? I can give credit to the Democrats for that program that works. But they already want to decrease the credits and tax the people who they lured to the state. Even the threat of decreasing the incentives makes businesses think twice about bringing a production here.
This is a big problem with government in general. It is uncertainty in how the government is going to meddle in the businesses that make businesses concerned about spending money, hiring people, and expanding. Government needs to shrink and get their hands out of everyone's pocket if we are going to get out of this recession.
killing the golden goose
Nolan,
The Democrats can't help it that they always want to raise taxes. It's genetic predisposition with all Democrats.
Their simply not mentally capable of thinking any other way. The need to raise taxes with them is just like their need for oxygen.
killing the golden goose
Nolan,
The Democrats can't help it that they always want to raise taxes. It's genetic predisposition with all Democrats.
Their simply not mentally capable of thinking any other way. The need to raise taxes with them is just like their need for oxygen.
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