Tax Equality

Tuesday, October 6, 2015

State Rep. Jim Townsend (D-Royal Oak) has introduced a proposal that would change Michigan’s income tax from a flat tax to a graduated income tax. This change would help out low- to middle-income families while making sure that millionaires – and billionaires – pay their fair share to support the roads, public safety and schools that we all depend on.

Rep. Townsend’s plan would equalize our tax burden by cutting taxes for 95 percent of Michigan families and asking the wealthiest to contribute the same share of their income as everyone else. Under this plan, a family making $50,000 could save as much as $525 in taxes each year. More than 4.4 million filers would receive an $830 million tax cut.

This would make a real difference in the lives of Michigan families who have been getting hit from every angle – declining income, reduced benefits, rising costs and disproportionately higher taxes.

Additionally, 89 percent of business owners would receive a tax cut. It’s time to help hardworking small-business owners who don’t benefit from special-interest deals like the MEGA business tax credits.

The following charts show how Townsend’s plan would help Michigan families:

 

The plan is being talked about across the state. To learn more, please visit: