Local Republican Party, Business Owner Share Thoughts on Tax Bill
“It’s a good plan. It’s not President Trump’s plan, but it’s actually the Senate plan.”
Randy Bishop, chairman of the Antrim County Republican Party says it’s a plan the likes of which has not been seen since 1986.
“It’s huge because of two things. The lower income folks, and I’m talking like married, $24,000 tax free income. You are going to throw a couple of kids in there, $2,000 credit would actually pay your tax bill for you, lower income folks, especially kids, are going to help them out tremendously.” Randy said.
Specifically, the bill would drop the corporate tax rate from 35 percent to 21 percent.
Randy says it will put more money into pockets to spend locally.
“You don’t go from Cheboygan all the way down to Traverse City to go grocery shopping. You spend it at home because everything is 20, 30 miles for us. When you get dollars in your pocket and then spend it locally, it is absolutely going to turn this local economy around in Northern Michigan, like, overnight.” he explained.
But some say it’s not that simple.
Senator Gary Peters says the biggest benefits go to the richest people, and health care costs for middle class families will go up.
Russell Schindler is the president of his own start-up in Traverse City, sampleserve.com.
“Corporate taxes are like a sales tax. It just makes the cost of the product, their service go up and, therefore, we all pay that,” Russell said.
Russell is optimistic that bigger wallets at the top will help smaller companies.
“The rich people are the ones who invest in new companies so to have more money in those types of hands, you are going to help out small companies, start-ups just like my company. It’s just good for everybody,” he said.