Taxes

Renew Your Plates Now!

With Michigan's upcoming confiscatory registration hikes, its time! - Save 20% by renewing early.

Michigan vehicle owners can renew their registrations up to 6 months ahead of time.

If your tabs are going to be due from now till June, its time to act to save a few bucks.  Using Express SOS, you can avoid the 20% markup this year that our tax hungry legislature and governor have in store as-of Jan 1, 2017.

You’re welcome.

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That is quite a disguise you are wearing there, Mr. Finley

“Wolf” in sheep’s clothing.

 

In case anyone needed a clue as to why The Detroit News wasn’t acting like the Conservative Newspaper that it once was?

Digital First Media certainly pays its employees well to act like something they are not.

Hmmm, I wonder if Stephen Henderson is really a conservative???

H/T to Brandon Hall @ West Michigan Politics

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Um yeah, about that Detroit Pistons move…

Normally, sports doesn’t have much to do with politics here in Michigan.

Only in this case, what is happening behind the scenes should be of concern to everyone living in Michigan.

Hint: Think politicians being generous with other people’s money.

{Continued below the fold}

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Because paying twice for the same things always makes more sense.

"First rule in government spending: Why build one when you can have two at twice the price?" - S.R. Hadden (John Hurt) "Contact"

I’m going to throw out a few hypothetical questions to the readers here at RM, and I’d like to get your candid response.

Ready?

Here we go…

{Click the red box to continue}

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Southeastern Michigan’s Regional Transit Authority Millage Vote

When The RTA Property Tax Passes, It Will Be Imposed On All Four Counties - Even Those Which Reject It

rta-logo-jpgThe 20 year Regional Transit Authority, 1.2 mil property tax plan is on the ballot in four Southeastern Michigan counties, on November 8th. The public doesn’t seem to realize that this property tax will be imposed on all four counties, even if one or more of the counties reject it. A big change from past millage requests specifically designed to shove this tax down anti tax Macomb County’s throat. Michigan’s tax-and-spend establishment really wants this tax to pass.

Ford Focus SThe RTA master plan is $ 1.22 billion in new fare revenue, $ 3.1 to $ 3.3 billion in new property taxes, and $ 1.7 billion in new Federal & State subsidies. A grand total of $ 6 billion, more or less. Let’s say that the relatively modest increase in vehicle revenue miles provided by the RTA master plan – 32% – doubles their ridership. That $ 6 billion cost, divided by 78,327 new passengers, equals $ 76,602 per passenger over the 20 year period. You could buy every one of those 78,327 new riders a new car and pay for their fuel and insurance as well.  Instead, RTA will treat them to the urban mass transit experience.

Urban buses and other mass transit vehicles have a special ambiance with their diverse ridership and high level of maintenance. This experience is enhanced by the faint aroma of pepper spray, plus the full array of odors you would encounter in a hospital emergency room during an overwhelming disaster – except for disinfectant.  Bus scheduling allows those too poor to visit a casino the opportunity to gamble daily on punctuality at their workplaces.

Why riders are unwilling to pay 20% of the cost of mass transit, and why mass transit funding has to be extracted from taxpayers using the threat of foreclosure.  On top of this, mass transit advocates have to raid road funding and vehicle registration fees to deliver their ‘service’.  No free market economics here, despite strong support from the Chamber of Commerce types.

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Strange Bedfellows Explained

Hillary's Plan to Loot Your 401k Account

tony-james-blackstone-groupInternational Business Times and Yahoo Finance just posted headline stories on the plan created by Hillary’s Wall Street masters to loot your future retirement savings. Today’s voluntary 401k savings plans will be replaced by mandatory retirement taxes on all private sector workers – and their employers – which would be turned over to Wall Street hedge funds for investment:

Hillary Clinton And Wall Street: Financial Industry May Control Retirement Savings In A Clinton Administration
By David Sirota and Avi Asher-Schapiro, IBT, 10/19/16 at 12:50 AM

While Hillary Clinton has spent the presidential campaign saying as little as possible about her ties to Wall Street, the executive who some observers say could be her Treasury Secretary has been openly promoting a plan to give financial firms control of hundreds of billions of dollars in retirement savings. The executive is Tony James, president of the Blackstone Group.

It is a plan that proponents say could help millions of Americans — but could also enrich another constituency: the hedge fund and private equity industries that Blackstone dominates and that have donated millions to support Clinton’s presidential bid.

The proposal would require workers and employers to put a percentage of payroll into individual retirement accounts “to be invested well in pooled plans run by professional investment managers,” as James put it. In other words, individual voluntary 401(k)s would be replaced by a single national system, and much of the mandated savings would flow to Wall Street, where companies like Blackstone could earn big fees off the assets. And because of a gap in federal anti-corruption rules, there would be little to prevent the biggest investment contracts from being awarded to the biggest presidential campaign donors.

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Vote No On Proposal 15-1

Gas Taxes.. say what?

Oh that’s right, it didn’t pass.

It didn’t pass, the voters said “no,” but what the heck.  From the official propaganda unit of the MDoT

October 10, 2016 — The City of Ishpeming and the Michigan Department of Transportation (MDOT) marked the opening of two new modern roundabouts at a ceremony this morning, bringing the summer’s $4 million major construction investment to a close.

“MDOT and the City of Ishpeming collaborated in outstanding fashion to improve a longstanding safety problem and access management challenge in the City of Ishpeming,” said Aaron Johnson, manager of MDOT’s Ishpeming Transportation Service Center. “These modern roundabouts bring a safe and efficient transportation solution to US-41 and the city, and provide a wonderful new gateway to the community.”

Emboldened text deciphering:  “Don’t forget to keep making the NASCAR turns.”

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Financial State of Michigan – 2015

41st Place Among the States

tia-methodologyYou have probably read the Mackinac Center’s excellent works on Michigan’s government finances, much of which they release through Michigan Capitol Confidential. Top quality analyses, but parochial in the sense that they don’t place Michigan’s government finances in the context of the other American states. An Illinois 501(c)(3) organization, Institute for Truth in Accounting does, and has come up with a useful metric – taxpayer burden – by which you can rank Michigan financial status relative to the other states. No accounting degree necessary.

Suffice it to say, you will not be reading any of Truth in Accounting’s work in Michigan’s nitwit, cheerleading media.

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Trump’s Taxes

Why No Criticism of GM, Chrysler, and the UAW? They Got a Much Sweeter Tax Loss Deal from the Democrats.

nyt-logoA Saturday story in the New York Times alleges that Republican Presidential nominee Donald J. Trump may have avoided paying income taxes for 18 years due to a $ 915 million net operating loss declared on his 1995 federal tax return.  A net operating loss is a form of tax loss carry forward which can be used by a taxpayer to offset future (and sometimes past) income taxes due the federal government.  The authors claim that someone anonymously mailed them pages from Trump’s 1995 return.  A felony violation of federal law which the New York Times only participates in when its enemies are the victims.  Given recent history, it is far more likely that some snake in Obama’s IRS mailed the pages to the New York Times.  One more reason to impeach IRS Commissioner John Koskinen.

None of this is news.  Trump admitted to the size of his 1990’s loss in his book Art of the Comeback.  More interestingly, he explains how the Tax Reform Act of 1986 (TRA 1986) crushed the real estate market in New York and created his massive loss.  Note that he mistakenly attributes his predicament to TEFRA, a 1982 act which also caused him some problems, but it was actually TRA 1986 which he is referring to.

U.S. Republican presidential candidate Donald Trump speaks at the Family Leadership Summit in AmesTax loss carry forwards date back to at least 1954 in the U.S. tax code. The logic behind them is simple: if the government benefits from an entity’s income, it should share that same entity’s misfortune when it runs losses. Both moral and ethical, two concepts not usually associated with the U.S. tax code. The salacious case being made against Trump has no merit, except as propaganda. Remember, Trump had to lose $ 915 million on long term assets to get the tax loss carry forward.  More importantly, Trump’s massive loss was created by a sea change in the rules of the game dictated by the same federal government.

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There was a reason he shall forever be known as the wimp.

The man who single-highhandedly gave us eight years of a Clinton presidency, now wants to give us (potentially) eight more.

‘Nuff said!

official-portrait-george_h-w-bush

And you fools thought I was really a conservative!

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