What are 5 benefits of the 100% charitable tax credit?
1. People would come up with new creative ways to help the poor.
2. Scientific and medical research would be better funded.
3. Foreign aid to commoners would increase.
4. It would be cheaper to take care of the elderly in their own homes rather than nursing homes.
5. Government needs can be addressed quicker.
What are some things that the rich should be offered?
Time, gratitude, incentives, shared pain, power...
What are two dramatic solutions to helping the government finance programs for the elderly?
New immigration (have the young immigrants pay SS tax) and rewarding people for paying taxes (by letting them choose where they want their money to go).
What is the current Michigan law about charitable donations?
Public contribution credit, community foundation credit, homeless shelter/food bank credit (70% tax deduction).
What is the exact proposal?
For there to be a marginal tax increase of 10% for individuals making over $75,000 but offer a 100% tax credit for public contributions up to the entire amount of the tax surcharge.