Attorney General and 2010 Gubernatorial Candidate, Mike Cox released his 61 page plan entitled "Putting Michigan Back to Work: The First Steps", which includes his plan for his first year as Michigan's new Governor.
In this literature, he says that "Tax reform is the way to empower and give hope to our citizens, grow jobs, and send a message to the rest of the country that Michigan is open to jobs - and the 21st Century." According to his plan, Cox will cut taxes by $2 billion in his first year alone, which he believes would spur growth in our state's economy..
Michigan's unemployment rate always on the rise, and we are expected to lose our 1 millionth job next year. Mike Cox realizes the need to bring jobs to Michigan, and his solution is to cut the Michigan Business Tax (MBT) by 50% at first, then completely eliminate the MBT altogether. According to his plan, Cox sees that the "best 'tax credit' is a low rate for every business" and wants to "create the environment for businesses and families to thrive", he believes that this can successfully be achieved with lower taxes.
But are tax cuts really the way to go? With our state in such a deficit, the opposing side sees that there is no feasible way to provide these extensive tax cuts. A newly formed coalition under the name "A Better Michigan Future", has called upon the legislature and the Governor to make the changes they believe our state needs. Their suggestions include a reform to the tax structure, and raise almost $3 billion in revenue, as opposed to cutting taxes.
A Better Michigan Future argues that tax cuts may be a short-term answer to our problem, but in the long-run, Michigan needs serious tax reform.
Check out Attorney General Mike Cox's entire plan on his website: http://www.mikecox2010.com/putting-michigan-back-to-work/
Check out A Better Michigan Future's proposed ideas for our state: