- 95% of residents would receive a tax cut under a proposed tax equality plan in Michigan. A family making $50,000 would save $525 per year. Their tax rate would be 3.2% versus the current 4.25%. - The document discusses that the bottom 80% of families in Michigan pay 9.2-9.5% of their income in state and local taxes, while the wealthiest 1% pay only 5.9% due to regressive taxes. - It proposes establishing a graduated income tax to equalize the tax burden, cutting taxes for 95% of families and asking the wealthiest to pay the same share as others.