There are definitely better ways to leverage the [accounting trick] found money into a better revenue generating machine.
Watch the video below, then recall that the rate was supposed to return to 3.9% by 2015 anyhow. And in the end we still must fill out a tax form. (MI Fairtax would take care of that)
Truthfully, if the legislature really wants to make this state job friendly, and presumable spend off that pretend surplus of a billion bucks, there is another place far more suitable. They might consider attacking something that raises that much, and is a business punisher.
ELIMINATE a whole tax infrastructure. Finally rid the scourge that is the personal property tax, levied on businesses. Quit talking around the edges and looking to exempt one type of industry or another. Just break out the eraser and do Michigan business owners justice and make it disappear.
It would encourage manufacturing to return, and make the state more appealing to potential start ups.
But, perhaps some might think we are whistling in the wind.
Is it because income tax reductions are more sexy than solid business inviting policy
If actually reached, the final 4.05% is still a Tax Hike.
Another MI-GOP broken commitment from 2007.
Be mindful that Republicans hold every lever of power in Lansing... for now.