DETROIT, Oct. 8 /PRNewswire-USNewswire/ -- A survey released today by Wayne State University's Center for Urban Studies reveals that nearly two-thirds of Michigan adults (64.3 percent) favor shifting away from the state's current flat income tax to a graduated income tax plan. In contrast, just under a third (32.6 percent) support raising Michigan's current flat income tax rate. No other potential revenue-generating approaches garnered majority support. Lyke Thompson, director of Wayne State's Center for Urban Studies and political science professor, led the study.
Illinois needs to have graduated income tax Are the people in Illinois overtaxed? Eighty-eight percent of states have some form of income tax. Of those states that do, 77 percent have a graduated tax where people who make more pay higher rates.
SPRINGFIELD
A new tone in the approaching election year echoes the spirit of Robin Hood, the legendary English archer who robbed the rich to give to the poor. This time it is taxes, not robbery, but the principle is the same. Among the latest indicators was President Barack Obama's populist call for a level economic playing field in a speech in a Kansas high school gym. He referred repeatedly to Theodore Roosevelt's 1910 speech, also in Osawatomie, pressing his unsuccessful presidential bid through his Bull Moose Party. Roosevelt urged "a graduated income tax on big fortunes" and a graduated inheritance tax, "increasing rapidly in amount with the size of the estate." In an earlier speech, he had coined the epithet "malefactors of great wealth.
- Stockman Kast Ryan + Co. announced the promotion of Buddy Newton to senior tax consultant. Newton graduated with a bachelor of science in accounting from the University of Colorado at Colorado Springs and has been with SKR + Co. for three years. He is a member of the Chamber Rising Professionals and a reserve deputy for the El Paso County Sheriff's Office. WEEK OF OCT. 16
Like most ice hockey players, O'Rourke started playing on icy ponds before graduating to Pelham's pre-high school hockey team, then played defense on the Wilton High School Warriors in the nearby Ridgefield ice rink after his family moved across the state line to Wilton. In some sense, economics is a science and it can be highly quantitative, but the application of economic principles necessarily involves political decisions - like the issue of private property rights, like communism versus capitalism, or other issues where political concerns affect economic policies, like the flat income tax rate versus the graduated tax rate or the tax on sales versus income.
[John Liu] has a five-point plan in his quest for this position. Liu proposes to diversify the comptroller's investment portfolio by going back to basic portfolio management of stocks and bonds. He wants to bolster diversification of the city's economy by expanding opportunities for WMBEs (women and minority business enterprises) and emerging industries. Liu also wants to support a more graduated income tax for city residents based upon wealth. The Industrial Development Agency that oversees small business development in the city is also in need of reform and Liu believes that the comptroller should have a greater role in this agency's operations. And finally, he believes in using the comptroller's audit bureau to review the city's business development programs, including the Department...
We were reading the minutes from a congressional hearing under Teddy Roosevelt, in 1913, I think ..." [Bill Killen] said, deciding that it was actually 1916. At the time, Roosevelt was advocating for a graduated tax on estates. Killen recalled Roosevelt's intentions: "He said, 'if you don't do something about this, you're going to have a class structure like Britain's, but not based on nobility, based on wealth ...' "When developing IJOBS, we talked to the governor, and we said, 'How do we get out of this?'" said Rep. John Rusche of Lewiston, the House minority leader. "We tried to look and see if we couldn't use our resources in a more effective manner. I'm a doctor. When patients came to me, they didn't just want a diagnosis. They wanted a diagnosis and a plan to get better. "Some o...
For once, let's be willing to think outside the box. For instance, Michigan State economics professor Charles Ballard proposes eliminating the entire Michigan Business Tax, substituting for it a graduated income tax. He says our current flat rate income tax of 4.35 percent puts the tax rate on the first dollar of taxable income among the highest in the country. His calculations suggest a graduated income tax with a top rate of 7.9 percent could replace all current revenues from the MBT and flat rate income tax, and he adds that state income taxes are deductible on your federal tax bill - "tax exporting," he calls it. There's an old saw about taxes: "Don't tax him. Don't tax me. Tax that fellow behind the tree." Rather than thinking about how to shrug our own tax burden off on the other ...
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