Monday, April 23, 2012

Michigan's New Tax Policy a "Leap of Faith"

“Our goal is to create a stronger economic environment,” [Dave Hildenbrand, R-Lowell] said. “Sometimes in tax reform you have to take a leap of faith that we’re all going to benefit. We’re trying to create a better environment so that we can compete.”
Leap of Faith. Yes. Republican senator Dave Hildebrand just referred to a new Republican economic policy to slash city revenue as a "leap of faith". "Leap of Faith." Exact words. And so that's it. Michigan Republican's economic policy comes down to a roll of the dice. A silent prayer as the roulette ball bounces around. Close your eyes and jump off the edge and hope for the best. "Leap of faith."
The tax is set to be phased out beginning in 2016 and Grand Rapids stands to lose more than $3 million annually once it is gone. Kent County would lose about $4.7 million, figures show. The more heavily industrialized a municipality is, the greater the loss.
"Leap of faith" -- Hey...MAYBE the cities and citizens, already crushed by Republican tax hikes on the Middle class at the expense of schools, roads, and public safety will do better with another 20% cut to their city revenue? Maybe! Some cities will get hit worse than others...

"Leap of faith." This is the Republican tax policy at work. There's no other thinking behind it than a blind walk across I96, folks. Best of luck, Michigan.

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