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Gov. Rick Snyder signs Michigan business/income tax overhaul into law
By | Wednesday, May 25, 2011, 2:37 PM
Only 21% of students who begin HS in Detroit actually finish. I'm calling massive BS on this.
It is true that only 21% of students who began in the DPS may finish in the DPS, but that doesn't include those who transfer to other school districts to finish.
The statistics used to chart "dropouts" is significantly flawed in that a student is considered a dropout if they start school in one district and finish in another district or out of state.
The school district I live in had a 50% dropout rate accoriding to the statisitcs for a somewhat recent graduating class. Why? At the time this class was in high school Phizer closed in AA, Ford closed in Wixom and many of these students families moved out of the area to find work in other places. Every single one of those students was considered a dropout.
Yes the DPS does have a rather high (way to high) droput rate, but saying only 1 out of 5 students starting school actually finish is BS.
Well, to date in the postings, those who make $55,000 or less, the "Great Unwashed" in our republic, are, as I'm hearing, saying that they feel like pawns in a financial game run by the Bigwigs. Many Bigwig wannabees within the Great Unwashed eagerly applaud. Those who actually are in the upper middle class to wealthy are happy to pat their little unwashed sycophants on their heads and happily reassure them that taxing Grandma to the point where she has to eat pet food to survive is gonna get them a fine job someday - EVEN THO' GOV. S CAN'T PREDICT IT IS GOING TO HAPPEN! As P. T. Barnum said, "Their is a sucker born every day."
This makes Michigan unattractive to retirees. I was born and raised in Mi and now line in Indiana. I am eligible to retire in three years and the wife and I had planned to retire to Mich, in a large part because of the pension tax exemption. Now we are looking at the remaining states either without an income tax or ones that exempt pensions.
That's at a minimum a home sale lost, property taxes lost, vehicles I will buy in other states, sales taxes paid in other states etc. At least you guys are balancing corporate tax cuts of over a billion dollars on the backs of fixed income retirees, so you got that going for ya.
Beerlion--you understand perfectly. Check out FL. No state income tax, sales tax is same as MI at 6%, property tax exemption for everyone is $50,000, 25% of houses in FL are vacant and available for purchase, no snow and great beaches, attractions and relaxation. It also is not that difficult to file an affidavit of residency in FL at Clerk of the Court office. You need "an address", register to vote, register cars and insure them. In reading the FL statute there is no minimum residency requirement. If you keep MI house your taxes will become non-homesteaded--higher--probably double; however, on the other end you won't be chased by income limitations that will take 4.35% of your pension or IRA distribution. You only worry about Federal tax brackets and they are the same all over. Bye bye Rick. FL LOVES retiree money.
I'm just curious...
How does Michigan get MY PENSION TAX to cover the elimination of the Business tax
if I....along with thousands of other Michigan retirees head to Florida or Nevada???
Oh...and as an additional bonus...NO SNOW in Dec thru April...
Good luck with this Gov Snyder... and good night..
JD
This has been tried and hasn't worked...Bush tried it, failed miserably. Doesn't anyone look at history? Tax cuts for businesses don't create jobs! It is truly disgusting that this plan takes from those that can afford it the least and gives to those that already have more than they need. I don't know how he sleeps at night! The recall has started...put your distaste for Rick into the drive to recall him, before the middle class is gone completely. "Robbin' Rick"...takes from the poor and gives to the rich.
pt:
So tax cuts don't create jobs? Bush failed?
Dec of Year: US Payroll Employment
2000 132485
2008 134383
2009 129320
2010 130260
April 2011: 131028
Source: BLS (thousands)
It appears proudteacher is proud of something besides her lack of knowledge of economic trends.
C1
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Snyder and Lt. Gov. Brian Calley call the plan a game-changer for the state’s business tax climate and say it defuses the fiscal “time bomb” that allowed retirees to exempt their pension income from tax.