{"id":4311,"date":"2011-03-15T06:51:29","date_gmt":"2011-03-15T13:51:29","guid":{"rendered":"http:\/\/www.politicsplus.org\/blog\/?p=4311"},"modified":"2011-03-15T13:34:06","modified_gmt":"2011-03-15T20:34:06","slug":"republicans-reverse-robin-hoods","status":"publish","type":"post","link":"https:\/\/www.politicsplus.org\/blog\/2011\/03\/15\/republicans-reverse-robin-hoods\/","title":{"rendered":"Republicans Reverse Robin Hoods"},"content":{"rendered":"

Remember Robin Hood?\u00a0 He was the guy who took from the rich and returned to the poor that the rich had been exploiting.\u00a0 He followed Demand-side economics.\u00a0 He demanded and wealth actually did trickle down, unlike Republican Supply-side economics where it always gushes up.\u00a0 He was a hero.\u00a0 Republicans, on the other hand are reverse Robin Hoods as Michigan\u2019s Gov. Rick Snider demonstrates.<\/span><\/p>\n

\n

\"GOP-wallstreet\"As we\u2019ve been documenting, several conservative governors have proposed placing the brunt of deficit reduction onto the backs of their state\u2019s public employees, students, and middle-class taxpayers, while simultaneously trying to enact corporate tax cuts and giveaways. Govs. Rick Scott (R-FL), Tom Corbett (R-PA), and Jan Brewer (R-AZ) have all gone down this road. <\/span><\/p>\n

Following suit, Gov. Rick Snyder (R-MI) has proposed<\/span><\/a> ending his state\u2019s Earned Income Tax Credit, cutting a $600 per child tax credit, and reducing credits for seniors, while also cutting funding for school districts by eight to ten percent<\/span><\/a>. At the same time, as the Michigan League for Human Services found, the state\u2019s business taxes would be reduced by nearly $2 billion, or 86 percent<\/span><\/a>, under Snyder\u2019s plan:<\/span><\/p>\n

Business taxes would be cut by 86 percent from an estimated $2.1 billion in FY 2011 to $292.7 million in FY 2013, the first full year of the proposed tax changes<\/span><\/strong><\/span>\u2026Taxes on individuals from the state income tax would rise by $1.7 billion or nearly 31 percent, from an estimated $5.75 billion in FY 2011 to $7.5 billion in FY 2013, the first full year of the tax changes.<\/span><\/p>\n

As the Institute on Taxation and Economic Policy found, the practical upshot of Snyder\u2019s tax increases is to place even more of a burden on Michigan\u2019s poorest residents, who will see a bigger hike<\/span><\/a> than those at the upper end of the income scale:<\/span><\/p>\n

\"15MichEmbed\"<\/a><\/span><\/p>\n

Michigan already has a regressive tax system, which Snyder\u2019s proposal will only make worse. Currently, someone in the poorest 20 percent of Michigan taxpayers pays a tax rate of 8.9 percent<\/span><\/a>, while someone in the richest one percent <\/span>pays 5.3 percent.<\/span><\/a>.. [emphasis original<\/em>]<\/p>\n<\/blockquote>\n

Inserted from <Think Progress<\/a>><\/p>\n

If you make less than 17,000 in Michigan, Snyder the Snake now wants 10%, but if you make $335,000 or more, your rate is only 5.4%.\u00a0 This is how Republicans take from those least able to pay to give to the rich, Robin Hood in reverse.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Remember Robin Hood?\u00a0 He was the guy who took from the rich and returned to the poor that the rich had been exploiting.\u00a0 He followed Demand-side economics.\u00a0 He demanded and wealth actually did trickle down, unlike Republican Supply-side economics where it always gushes up.\u00a0 He was a hero.\u00a0 Republicans, on the other hand are reverse […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-4311","post","type-post","status-publish","format-standard","hentry","category-politics","category-5-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/4311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/comments?post=4311"}],"version-history":[{"count":0,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/4311\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/media?parent=4311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/categories?post=4311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/tags?post=4311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}