LANSING — Seniors in Michigan pay less than half the taxes that residents under 65 — and who have similar incomes — pay, according to a recent national report.
That cost Michigan 14% in income tax revenue in 2017, the second-greatest rate in the country, according to the report by the Center on Budget and Policy Priorities in Washington, D.C. Only South Carolina is more generous to older residents.
Tax breaks target the wrong people and older residents who are wealthy don’t require them, said Brandon Betz, a tax policy analyst at the Michigan League for Public Policy. They are geared for seniors with pensions and retirement savings. But they are needed by seniors who lack such savings.