Michigan fairtax Presentation by Rep. Fulton Sheen
Michigan fairtax Presentation by Rep. Fulton Sheen
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Presentation of the current state of Michigan’s economy and tax system, along with the solution to these current struggles, the Michigan fairtax. The Michigan fairtax is a proposal that would remove the Michigan current 6% sales tax on goods, the Michigan personal income tax, the Michigan Single Business Tax, the Business Personal Property Tax, the 6 mill State Education Tax on business, and Sales tax on business purchases. This would all be replaced by a 9.75% sales tax on all goods and services. This sales tax would be paid by all residents of Michigan, including illegal aliens, pimps, gamblers and drug dealers. It would strongly encourage businesses to come to the state of Michigan, since they would be able to build and grow their business in Michigan state tax-free. The Michigan fairtax significantly lowers the cost of goods and services produced in Michigan by removing the cost of business taxes that are hidden in today’s prices. Also, a Prebate is provided to all legal households in Michigan so that they have in advance a refund of the tax they would pay on the necessities of life. For more information, please visit www.mifairtax.org
Michigan fairtax Presentation by Rep. Fulton Sheen
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Comment by mifairtax
It’s deceiving and incorrect to assume you would be paying an “effective” rate equal to the tax rate. Just like your marginal rate is not your effective rate under the income tax system. Under the FairTax you remove all savings, loan payments, education and donations from your taxable spending first! Then you deduct the prebate to find your true effective tax rate. This will be nowhere close to the actual rate unless your wealthy and spend a lot!
Comment by mifairtax
Because the FairTax replaces the current system for the same amount, that 40% is the same tax you’re paying now. It doesn’t matter how you label it or what percentage it is. It’s the same cost. You are right, 40% is Ridiculous, but making the 40% we’re paying now visible is not! Making it visible is not the problem. The fact that it would take a 40% rate to raise the same revenue is ridiculous!
Comment by MarkDouglasC
Be careful what you wish for.
A state sales tax –fairtax — is one thing. If you had a high state sales tax of 10% plus a national sales tax of 40%, thats 50% sales tax.
The devil is in the details.
Comment by bjmoomey
Very thought provoking!
Comment by bigdrc1
excellent idea. it is time for a change in michigan. the downward spiral that we have been in for the last ten years or so is getting old.
Comment by wawbwc
Save the Future. Close down the Federal Reserve.