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NEWS TIPS!RightMichigan.com
Who are the NERD fund donors Mr Snyder?Tweets about "#RightMi, -YoungLibertyMI, -dennislennox,"
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Egad! Its a karma tornado!By Nick, Section News
This is what the Tick would refer to as a "karma tornado." (Big blue super hero, dumber than a bag of rocks, nigh invulnerable... it was a comic book and a Fox Kids cartoon years ago. I'm a geek, sue me.)
The Detroit News is reporting that the state of Michigan, in it's zeal to collect as much tax revenue from hard working moms and dads as humanly possible has over-reached and wound up accidentally giving Michigan residents a tax break. How you ask? Good question. Read on...
A couple years ago the governor had the brilliant idea to try to impose the state's sales tax on goods sold over the internet. With buyers all over the United States this was obviously a big undertaking and Michigan joined with other states to squeeze as much water out of the stone as possible, but that meant taking a few items off the "taxed" list. The News says it best:
But, at the same time, Michigan is losing an estimated $18 million in revenue each year because, to make its tax laws uniform with the other states in the project, it had to stop taxing some items. Oh, ouch. Big dreams of higher tax revenue and it turns right around and bites the governor in the... hand. Bit her in the hand. Funny, that. The federal government is taking in more tax revenue than at any time in the history of the United States these days, a direct result of the 2001 tax cuts that ended a recession and kick started a booming national economy. Could be that there's a lesson to be learned here. A lesson not everyone's learned just yet. The News concludes with the protests of one of the State Senate's mental giants:
All states must be having the same problem. Uh... no, no they're not. First of all, only 22 states even take part in the program, so 28 states are in the clear right away. Then there's the whole bit about Michigan having to remove the tax on certain items to conform with what the other states already did. In other words, they're not losing tax revenue because they never taxed those items in the first place. But I appreciate where Gilda's going with her rant. Crazy liberal voodoo tax policy doesn't work out the way you thought and any economist could have predicted? Just blame the federal government. Works for the governor.
Egad! Its a karma tornado! | 6 comments (6 topical, 0 hidden)
Egad! Its a karma tornado! | 6 comments (6 topical, 0 hidden)
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