If you live in Michigan, chances are Republican Rick Snyder has raised your taxes - unless you’re a corporation.
• Donations to food banks, shelters, and food kitchens: eliminated. • Donations to charities: gone.
• Deduction for children in the family: ended. This costs Michiganders $57 million every year.
• Homestead Property Tax Credit (HPTC) has been taken away for over a quarter million Michiganders with incomes between $50,000 and $82,650.
The poorest Michiganders pay 1.0% of their income in taxes vs. 0.001% for the top earners – 1000 times more.
• Earned Income Tax Credit (EITC) for the working poor cut from 20% to 6% of the federal credit – a 70% cut, pushing an estimated 14,000 more children into poverty.• Only half of the working poor that qualify for the EITC will also qualify for the HPTC.
Cuts to revenue sharing, education, and of government services have forced local municipalities to raise taxes at the local level for:
• Road repairs
• Public safety
• School funding
So what are we getting for these higher taxes we’re paying?
5th highest unemployment rate in the nation — 22% higher than the national average.
Michiganders know trickle down economics doesn’t work. But Rick Snyder doesn’t care.