Slashing Taxes for Corporations, Raising Taxes on Middle Class Has Resulted in Unemployment Rate Worse Than National Average
LANSING – Despite giving away billions in tax cuts to wealthy corporations, Gov. Rick Snyder has little to show in terms of economic growth, with Michigan’s unemployment rate worse than the national average and nearly all of the last two years’ job creation attributable to the recovery of the auto industry.
“Under the policies of Rick Snyder, Michigan’s middle-class families have been falling behind, and the American dream seems further and further out of reach,” said Michigan Democratic Party Chair Mark Brewer. “Working families are paying more in taxes, but their kids’ schools are receiving less in state funding. The cost of college keeps increasing as Snyder and Lansing Republicans have slashed funding for our public universities. Seniors’ pensions are being taxed.
“Meanwhile, as thousands of Michiganders struggle to find work, Rick Snyder and Lansing Republicans have focused on a Tea Party agenda of attacking women’s rights and undermining workers’ rights. So the question for Rick Snyder tonight is, where are the jobs?”
As of November 2012, Michigan’s unemployment rate stood at 8.9 percent, compared to 7.7 percent nationwide. The Bureau of Labor Statistics estimates if you add in discouraged and marginally attached workers, the true unemployment rate in Michigan is 11.1 percent — more than one in 10 workers.
The Michigan League for Public Policy noted that Michigan ranks in the middle of the pack nationwide with about one in three working families classified as low income — but that Michigan is one of only 10 states in which the percentage of working families that are low income increased by more than 5 percentage points since 2007.