A Democratic state lawmaker is proposing a graduated income tax for Michigan. Right now, the state’s income tax is a flat 4.5%, but state Representative Tom Cochran tells Michigan’s Big Show he thinks it should be less than 1% for those with low incomes, and as high as 6.5% for those with high incomes.
“For those making under $200,000 a year, 94% of the population of Michigan would realize a tax break,” Cochran said.
Cochran is proposing the less than 1% rate for those making less than $21,000 per year. It would be 6.5% for those making more than $350,000. A recent Epic-MRA poll finds about 70% of Michigan residents would support such a model. Cochran says only eight states have a flat income tax like Michigan.