Dem proposal for a graduated income tax is precisely what they should be fighting for
In March of 2015, Michigan Democrat Jim Townshend introduced legislation in the House House Bill 4341 that would change Michigans regressive flat state income tax to a graduated tax. Not surprisingly, it never went anywhere in the Republican-controlled House. And thats a shame because, if implemented, it would increase state tax revenues by as much as $700,000,000 $870,000,000 and still lower taxes for 95% of Michiganders.
This is the sort of populist, across-the-board, tax policy that could appeal to even people who found themselves voting for Donald Trump in November of last year. Why do I say that? Have a look at these results from a recent EPIC-MRA poll on this topic:
A full 70% of Michiganders favor this tax proposal. It doesnt matter how you slice the respondents demographically, a majority of people like this idea. A LOT. Even people with incomes over $100,000 a year support it 64% to 27%.
The breakdown on the tax rates looks like this:
3% tax rate on incomes up to $20,000
4% tax rate on incomes between $20,000 and $40,000
5% tax rate on incomes between $40,000 and $80,000
6% tax rate on incomes between $80,000 and $125,00
7% tax rate on incomes between $125,000 and $200,000
8% tax rate on incomes between $200,000 and $500,000
9% tax rate on incomes between $500,000 and $1,000,000
10% tax rate on incomes over $1,000,000
Read more: http://www.eclectablog.com/2017/04/turning-michigan-blue-again-dem-proposal-for-a-graduated-income-tax-is-precisely-what-they-should-be-fighting-for.html