Sunday, December 07, 2008

Time for Fair Tax in Michigan?

Right Michigan has a very interesting article on the Michigan Fair Tax proposal.

The proposal is to end the current State income tax of 4% and take the state sale tax of 6% and raise it to 9.75%. It also gets rid of the business income tax, which would make the state more attractive for business and of course, jobs. On the downside, it continues to let cities levy income taxes.

A good feature is it requires a majority vote of the citizenry to increase or add any other tax. I'd prefer requiring a super-majority but its at least a good limit.

A nice summary from the proponents of the Fair Tax Proposal can be read at their website.

From my review of the proposal language so far it seems like a tax proposal that would be a real win for Michigan to adopt. Certainly in this economic situation that Michigan finds itself in, bold tax reform would be a good start to get on the road to recovery.

1 comment: said...

Thanks for the hat-tip!

It is a really, REALLY interesting proposal. Not sure what the political will is just yet, but time will tell. Should be an action-packed 697 days...