| Michigan is in a swirling-eddie of despair [message #287622] |
Mon, 01 October 2007 18:45  |
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Jecht
Messages: 3156
Registered: September 2004
Karma:
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General (3 Stars) |
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As not so many of you may know, the state of Michigan has had economic turmoil over the past 6 years. Industry is being overtaxed and worn down from promised pensions to it's UAW workers, and small business is given little leniency to survive.
As of August 7, 2007, Michigan's unemployment rate is 7.4% as stated by The Michigan Labor Market Organization(http://www.milmi.org/) where as the United States as a whole is experiencing an unemployment rate of 4.6%(http://www.bls.gov/), far less than our state's condition. As of last Thursday, Michigan's legislative branch was under heavy fire to balance the budget deficit of 1.75 billion dollars. It was stated that Michigan's governor(Jennifer Granholm) would order a Shut Down of the state government if an agreement was not made and would be effective as of Today(Monday October 1st). Granholm's holding of the state government hostage seemed to have worked, as a tax increase was announced today. Among the things now being taxed include:
An increase of Income Tax to 4.35% from 3.9%. While this may seem minuscule, regular tax payers will have to forfeit another $350 to state taxes. While this may not sound like much, tell that to the 7.4% without work.
| "Grand Rapids Press" |
Among things to see a newly implemented 6% sales tax include:
-Business Service Centers
-Carpet upholstery installation and service
-Couriers and Messengers
-Document Preparation
-Investigation guard and Armored services
-Investment Advice
-Janitorial
-Landscaping
-Warehousing and storage
-Mini-warehouse and self storage
-Scenic Transportation
-Transit and ground
-Passenger Limousines
-Office Administration
-Other personal services(This looks like a loophole to include everything else)
-Other travel and reservation services
-Personal care excluding haircuts
-Security system services
-Service Contracts
-Skiing
-Interior Design
-Tour Operators
-Consulting
-Packaging and labeling services
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So it's come to scraping quarters from a 13 year-old's paper route. Not to mention this entire taxing system seems to be nothing but a deterrent to small business and would inhibit growth of potential small commercial growth. I don't see a fix in sight, and I bet our state's economy gets much worse before it gets any better.
I know several people in these forums are from the state of Michigan. What do you guys think about this? Heck, what do the rest of you think about this? It seems to me that a cut in unneeded welfare recipients(cases such as real disability, recently unemployed, and the elderly not included.) would be a good start to fixing this budget rather than punishing those of us trying to look for work and/or working.
[Updated on: Mon, 01 October 2007 18:50] Report message to a moderator |
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