Who does Snyder work for? Follow the money

So Rick Snyder is a wealthy man. According to a recently released federal income tax return,

Snyder … had capital gains income of just more than $1.3 million in 2011… dividend income of just more than $350,000; wages of $141,547; interest income of close to $54,000, and real estate income of just more than $6,000.

His tax details:

Snyder paid federal income taxes of nearly $273,000 on taxable income of nearly $1.4 million for an effective tax rate of 19.8 percent. Capital gains are taxed at a lower rate than wages.

Snyder reported giving just more than $196,000 to charity.

The governor reported paying state and local taxes of just more than $79,000 and real estate taxes of just more than $46,000.

Snyder took his state salary but kept a vow he made in February 2011 by returning all but $1 of it to the state at year’s end, said spokeswoman Sara Wurfel.

Numbers like this aren’t new for Snyder:

The governor’s 2011 income was comparable to his $1.8 million in earnings for 2010, when he reported paying federal taxes of $227,000 and giving about $127,000 to charity.

He reported earnings of $8.1 million in 2009; $1.1 million in 2008, and $1.3 million in 2007, according to tax returns he released earlier.

But he shared his wealth with all of us:

The governor’s 2011 vow to work for $1 was made as the state worked on a budget that called for shared sacrifice.

Oh yes, shared sacrifice. So what does this shared sacrifice mean for Michigan?

Rick’s friends are happy:

Business groups and lobbyists are pretty happy campers these days.

They have good reason — most of the legislative priorities set out by the Michigan Chamber of Commerce and other business groups were accomplished during the 2011-2012 session, Gov. Rick Snyder’s first two years in office.

Emphasis mine. Doesn’t look like there’s any sacrifice there. Shared or otherwise.

And the rest of us? We’re doing the heavy lifting:

At the end of the day, here’s a very important thing to remember: Thanks to the new Republican budget, 51% of all Michigan tax payer will pay MORE in personal income taxes in 2012 and beyond. Read that again. Over HALF of Michiganders will pay MORE TAXES because of the Republican budget. This is not Democrats. This is not even the Republicans of yesterday. This is, in fact, a mostly tea party-driven legislature who came in on a small government, less taxes bandwagon, tooting horns and banging tambourines.

And they just raised taxes on over half of our residents.

So to sum up:

Snyder makes millions of dollars in capital gains. He gives millionaire businessmen everything they want.

Snyder takes nothing from the taxpayers of Michigan. He raises our taxes to give the millionaire businessmen everything they want.

Who does Snyder work for?

There are no cover bands in the Rock and Roll Hall of Fame. Follow me on Twitter - @christinebarry
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  1. […] And that wouldn’t be good for Snyder, or his friends. […]

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