Michigan’s GOP Gov. Slashes Corporate Tax Rate by 86 Percent, Hikes Taxes for Working Poor | AlterNet

Again, I ask:  “Why are people putting up with this?”

These new radical Republican Governors are cutting the Corporate Tax rates while screaming about budget shortfalls.  That’s irresponsible.

Then they are cutting services for women, the poor, minorities, public employees and students.   That is immoral.

I think we are going to see more people in the streets- like in Wisconsin- before this is over.  Of course, the GOP will probably just call out the National Guard to clear them out…

And to my fellow North Carolinians:  Our new GOP Legislature is trying to figure out how to get some of these policies past our Democratic Gov….

From AlterNet:

As we’ve been documenting, several conservative governors have proposed placing the brunt of deficit reduction onto the backs of their state’s public employees, students, and middle-class taxpayers, while simultaneously trying to enact corporate tax cuts and giveaways. Govs. Rick Scott (R-FL), Tom Corbett (R-PA), and Jan Brewer (R-AZ) have all gone down this road.

Following suit, Gov. Rick Snyder (R-MI) has proposed ending his state’s Earned Income Tax Credit, cutting a $600 per child tax credit, and reducing credits for seniors, while also cutting funding for school districts by eight to ten percent. At the same time, as the Michigan League for Human Services found, the state’s business taxes would be reduced by nearly $2 billion, or 86 percent, under Snyder’s plan:

Business taxes would be cut by 86 percent from an estimated $2.1 billion in FY 2011 to $292.7 million in FY 2013, the first full year of the proposed tax changes…Taxes on individuals from the state income tax would rise by $1.7 billion or nearly 31 percent, from an estimated $5.75 billion in FY 2011 to $7.5 billion in FY 2013, the first full year of the tax changes.

As the Institute on Taxation and Economic Policy found, the practical upshot of Snyder’s tax increases is to place even more of a burden on Michigan’s poorest residents, who will see a bigger hike than those at the upper end of the income scale:

via Michigan’s GOP Gov. Slashes Corporate Tax Rate by 86 Percent, Hikes Taxes for Working Poor | AlterNet.