Check out this tax idea...

Published on January 26, 2005 By jdkeepsmiling In Politics

I was just reading a little of the Detroit News Link today when I came across an interesting article. It seems that the Gov. here in Michigan, Jennifer Granholm, has come up with a pretty good idea when it comes to taxes. For a little background, let me tel you about Michigans Single Business Tax. This is basically a flat fee tax that asseses a 1.9% tax on payrolls of company. This idea has never really made sense to me, and a lot of people, me included think that this tax has a net negative effect on Michigan's job climate.

Well it looks like Jennifer has come up with a better idea. She is proposing that the SBT be levied against PROFITS and not payrolls Link. This is a great idea as it would enoucourage businesses to hire more people becasue they would not pay on just the people that they hire. It would also make sure that businesses that are on the edge of profitability get a small break. This would be great for small businesses trying to get started, and as well all know, small business success leads to large business success down the road. Someone needs to give this woman, or her economic advisors a hand for making sense. If some other state already has it set up this way, well then whoever there came up with this should also get a hand.

Comments or thoughts......

Comments

No one has commented on this article. Be the first!

Welcome Guest! Please take the time to register with us.
There are many great features available to you once you register, including:

Richer content, access to many features that are disabled for guests like commenting on the forums.
Access to a great community, with a massive database of many, many areas of interest.
Access to contests & subscription offers like exclusive emails.
It's simple, and FREE!