Friday, August 28, 2009

Republicans Must Hate This

Backers of a movie production studio broke ground in Allen Parkon Thursday (August 27, 2009), just as Michigan Republicans press to kill the tax cuts that made it possible.

I guess timing really is everything.


kevins said...

well, i hope it works out and creates a lot of jobs. But your snide comment ignores a couple of facts:

1. If this is such a great program, why are all the facts hidden?

2. If the state covered 40 percent of my business expenses, I could be doing some expanding as well. Instead, my taxes are going up.

wobblie said...

what taxes have gone up? My property tax went down for the first time in 26 years--my SS#, medicare and income tax rates have not changed (in real terms have dropped since I am experiencing furlough days)gasoline and sales taxes haven't changed---So what taxes do you pay that are going up--what taxes have increased?

kevins said...

Fair question, wobblie...I'll give you some examples.

Your property taxes are going down but not because government has lowered your rate. It's because the housing market has collapsed.

My property taxes, however, are going up. Although my assessed value has fallen, it is still higher than the taxable the taxable value (base) increases and the property tax rate stays the same. So my property tax payment has increased.

Plus, I own property in Howell City which has increased its tax rate to pay for road improvements. So both my base and my tax rate have gone up in Howell...higher taxes.

My state income tax rate increased two years ago by about 10 percent. (I really don't think you should be that excited about paying less income tax because your pay has declined; if that was really a good deal, then you will be very happy when you lose your job completely and then your income tax will be "reduced" to zero. Happy days. Meanwhile, those still paying state income tax will be paying 40 percent of the salaries of the actors at these state-subsidized film sites. All I'm saying is that my business would be very profitable if state taxpayers would pick up the tab for 40 percent of my company's expenses.)

My business tax rate is also higher than it was 2 years ago, thanks to the surcharge.

Gas tax rates and sales tax rates are indeed the same.

Hope this helps.