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Home / Michigan Attorney General Cox – Taxpayers Deserve $700 Million Surplus RefundMichigan Attorney General Cox – Taxpayers Deserve $700 Million Surplus Refund
Last Updated on Monday, 26 January 2009 12:25 Written by rslcpol Monday, 26 January 2009 12:20
From The Detroit News Op/Ed:
Fifteen months ago, Michigan taxpayers and businesses were punished with $1.4 billion in new taxes — the Michigan Business Tax, the 22 percent business tax surcharge and a higher state income tax. Since taxes went up, Michigan’s unemployment rate has also increased — it’s now 10.6 percent, the worst in the nation. But the tax revenue keeps pouring in.
Now we find out the state of Michigan is overcharging taxpayers. While families and workers are struggling to make ends meet, state government brought in an extra $712 million this past year on the heels of a $350 million surplus the year before.