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Professor H

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Re: Gov. Whitmer
« Reply #30 on: March 28, 2019, 12:08:41 PM »

Never understood the bugaboo about the tax either.  Hmmmmm.... income you made in Michigan and never paid tax on (i.e. free Democrat handout) and now you complaint that you have to pay taxes (your fair share of taxes).  Oh I hit it on the head... Democrats hate paying their fair share when there is a hard working stiff able to do it for them.

Never could figure out how it was put in the Constitution...  but its there - 

But the AG opinion "changed"  cause they needed more $$   -   

Instead they just had people move to States that don't tax  so the net gain/loss is not much. 

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First, it was not a strip bar, it was an erotic club. And second, what can I say? I'm a night owl.
Marion Berry

But we have to pass the bill so you can find out what is in it, away from the fog of the controversy.
Nancy Pelosi

Monroe Native

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Re: Gov. Whitmer
« Reply #31 on: March 31, 2019, 08:35:24 AM »

Another example of Whitmer and Dana playing politics instead of creating jobs and making sure the State has the energy it needs to operate.

https://www.detroitnews.com/story/opinion/editorials/2019/03/31/editorial-stick-tunnel-line-5-solution/3309259002/
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I have learned that only two things are necessary to keep one's wife happy. First, let her think she's having her own way. And second, let her have it.
Lyndon B. Johnson

You do not examine legislation in the light of the benefits it will convey if properly administered, but in the light of the wrongs it would do and the harms it would cause if improperly administered.
Lyndon B. Johnson

Monroe Native

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Re: Gov. Whitmer
« Reply #32 on: April 01, 2019, 07:53:37 PM »

Okay - I'll admit it - I'm confused.

It's cold outside = State Emergency.

Tornado = business as usual.

Uhhhhhhhh........  I'm guessing not very many voted for her there?

https://www.mlive.com/news/flint/2019/04/governor-denies-state-of-emergency-for-shiawassee-county-after-tornado.html

Maybe she really does hate any part of the State not named Detroit, Flint, Saginaw, Bay City, etc.
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I have learned that only two things are necessary to keep one's wife happy. First, let her think she's having her own way. And second, let her have it.
Lyndon B. Johnson

You do not examine legislation in the light of the benefits it will convey if properly administered, but in the light of the wrongs it would do and the harms it would cause if improperly administered.
Lyndon B. Johnson

John Kopke

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Re: Gov. Whitmer
« Reply #33 on: April 04, 2019, 08:14:42 PM »

I still don't understand the logic that Pensions should be tax free while 401K plans should be taxed.

I guess it is a generational thing.

If you have a pension - you don't want it taxed.  If you have a pension you probably don't care if your kids 401K gets taxed.

Again - not logical that one should be tax free and the other one shouldn't be.

MN:

Right on. Companies offering their employees pensions write off the pension contributions as an expense, which it is. They pay no taxes on this money. Then under a "no tax on pension" policy the retirees pay no taxes. It's a wonderful thing for both parties. Nobody pays any taxes on this money. But what about folks like me who worked for small companies that didn't offer a pension, or even contributions toward 401K? Every dollar that went into the 401K came from me. Yet when I take this money out in retirement, I get taxed on it. Is that fair? Of course it isn't. So what's the deal?

The deal is people like me are individuals with little, if any political clout, other than our single vote, have very little leverage. On the other hand those pushing for tax free pensions have powerful unions etc. putting the squeeze on the pols.

Then there's this. If they repeal the pension tax it will cost the state $ 300 million in tax revenue. Do you think they'll make cuts to offset the lost revenue? Not a chance. They'll come up with increased taxes from everyone to cover it. So not only do people like me continue paying taxes on our 401K money, we'll also be hit to come up with our share to cover the $ 300 million. Those getting tax free pension money will also have to pay more, but it will only be a fraction of the money they saved not having to pay taxes on their pensions. 

Joe Bellino (R) had an op-ed in Detroit News pushing for eliminating taxes on pensions.
I'm going to have a serious talk with Joe. I'll report back.
 

   
« Last Edit: June 28, 2019, 11:16:52 PM by John Kopke »
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John Kopke

blue2

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Re: Gov. Whitmer
« Reply #34 on: April 04, 2019, 09:07:56 PM »

I was under the impression if I took a month pension check from my employer the state of Mich would tax it.  If I rolled it into a 401 type account the state does not tax it.  as a matter of fact I paid zero state taxes and got $4 refund
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Monroe Native

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Re: Gov. Whitmer
« Reply #35 on: April 04, 2019, 09:11:24 PM »



Joe Bellino (R) had an op-ed in Detroit News pushing for eliminating taxes on pensions.
I'm going to have a serious talk with Joe. I'll report back.
 

   

Can you let Joe that I couldn't disagree with his position more?

You are spot on.  We will pay taxes on our 401K money, and we will pay even more taxes so the Unions that are bribing him to take this position never have to pay taxes.

I totally agreed with Snyder that taxing pensions was about being fundamentally fair - and treating everyone the same.

I guess Joe doesn't believe in that?

Let me know his take on it.
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I have learned that only two things are necessary to keep one's wife happy. First, let her think she's having her own way. And second, let her have it.
Lyndon B. Johnson

You do not examine legislation in the light of the benefits it will convey if properly administered, but in the light of the wrongs it would do and the harms it would cause if improperly administered.
Lyndon B. Johnson

Professor H

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Re: Gov. Whitmer
« Reply #36 on: April 05, 2019, 12:27:28 PM »

Okay - I'll admit it - I'm confused.

It's cold outside = State Emergency.

Tornado = business as usual.

Uhhhhhhhh........  I'm guessing not very many voted for her there?

https://www.mlive.com/news/flint/2019/04/governor-denies-state-of-emergency-for-shiawassee-county-after-tornado.html

Maybe she really does hate any part of the State not named Detroit, Flint, Saginaw, Bay City, etc.

Its not an area she knew was in Michigan I'm guessing?   

Sad to see the actual definition of Emergency being politicized and ignored for one that happens in an area that doesn't get much media attention
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First, it was not a strip bar, it was an erotic club. And second, what can I say? I'm a night owl.
Marion Berry

But we have to pass the bill so you can find out what is in it, away from the fog of the controversy.
Nancy Pelosi

Professor H

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Re: Gov. Whitmer
« Reply #37 on: April 05, 2019, 12:33:18 PM »

I was under the impression if I took a month pension check from my employer the state of Mich would tax it.  If I rolled it into a 401 type account the state does not tax it.  as a matter of fact I paid zero state taxes and got $4 refund

401K is the new "Pension" for most places as they don't want to be bothered with actuarials - and 'funding'

Tax free going in - allowed to grow tax free,  that's the front end tax benefit.    Then when you start to take distributions -  (Your choice of amount)  you pay taxes - at that rate. 

they didn't have em likely when the pension language was put in the Michigan Constitution -  that's why it wasn't covered. 

Would have preferred a vote at least vs just a AG opinion reversal and Supreme court wink wink - 

But hey they chased enough away -  I requested but never received  the  gain/loss   data.
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First, it was not a strip bar, it was an erotic club. And second, what can I say? I'm a night owl.
Marion Berry

But we have to pass the bill so you can find out what is in it, away from the fog of the controversy.
Nancy Pelosi

John Kopke

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Re: Gov. Whitmer
« Reply #38 on: April 06, 2019, 07:10:12 PM »

I was under the impression if I took a month pension check from my employer the state of Mich would tax it.  If I rolled it into a 401 type account the state does not tax it.  as a matter of fact I paid zero state taxes and got $4 refund

Blue2:

If you roll pension money into a 401K it won't be taxed "until" you take it out. Funny thing is,
if you did this, and they change the pension tax law, you'll need to stop putting the money into the 401K to forgo taxes. Gotta love government.
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John Kopke

blue2

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Re: Gov. Whitmer
« Reply #39 on: April 07, 2019, 10:49:13 AM »

Im not an expert on pensions or taxes.  I took a lump sum payout at retirement instead of monthly annuity..I rolled it into an investment.  I have been drawing off of it for 15 years and my tax preparer has said I do not owe Michigan any state tax.  And I haven't paid any for 15 years.
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Monroe Native

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Re: Gov. Whitmer
« Reply #40 on: May 10, 2019, 01:46:14 PM »

Whitless is just incredible.

Gonna veto shite that makes sense - and is in her budget - well - just because.

What a Moron.

She doesn't appear to want to get anything done.

https://www.mlive.com/public-interest/2019/05/whitmer-vetos-10m-to-refill-compensation-fund-for-wrongfully-imprisoned.html
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I have learned that only two things are necessary to keep one's wife happy. First, let her think she's having her own way. And second, let her have it.
Lyndon B. Johnson

You do not examine legislation in the light of the benefits it will convey if properly administered, but in the light of the wrongs it would do and the harms it would cause if improperly administered.
Lyndon B. Johnson

John Kopke

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Re: Gov. Whitmer
« Reply #41 on: June 26, 2019, 07:56:56 PM »


Back on January 10, 2019 at the end of a post I wrote:

I have another prediction. The upcoming budget come June will not be passed when it's supposed to be. Then the folks will start to realize we have Jennifer Granholm II.

I was right as Whitmer slams Republicans for not passing a budget. The "fix the damn roads lady" apparently is upset budget hasn't passed with her 45 cent per gallon tax increase. 
   
Pukes in state legislature seem to be balking. So where does that leave us?

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John Kopke

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Re: Gov. Whitmer
« Reply #42 on: June 26, 2019, 09:35:30 PM »



It leaves us with the Democrats waiting for their court drawn districts that they are convinced will let them raise any tax they want to.
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I have learned that only two things are necessary to keep one's wife happy. First, let her think she's having her own way. And second, let her have it.
Lyndon B. Johnson

You do not examine legislation in the light of the benefits it will convey if properly administered, but in the light of the wrongs it would do and the harms it would cause if improperly administered.
Lyndon B. Johnson

John Kopke

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Re: Gov. Whitmer
« Reply #43 on: June 28, 2019, 11:22:13 PM »

It leaves us with the Democrats waiting for their court drawn districts that they are convinced will let them raise any tax they want to.

MN:

I think the Supreme Court just nixed this.
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John Kopke

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Re: Gov. Whitmer
« Reply #44 on: June 28, 2019, 11:29:57 PM »

MN:

I think the Supreme Court just nixed this.

So they have to wait longer - until their "non partisan" citizen commission gets it done.
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I have learned that only two things are necessary to keep one's wife happy. First, let her think she's having her own way. And second, let her have it.
Lyndon B. Johnson

You do not examine legislation in the light of the benefits it will convey if properly administered, but in the light of the wrongs it would do and the harms it would cause if improperly administered.
Lyndon B. Johnson
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