Yesterday's Wall Street Journal's editorial was about Michgan Governor Jennifer Granholm going postal over a previous article about the her prosposed changes to Michigan's Single Business Tax (SBT). I can tell you based on my reading of the proposed changes, and discussions my colleagues have had with lobbyists and legislators, these changes were a disguised tax hike. The net effect of it was to transfer a large portion of the tax burden from capital intensive industries like manufacturing (i.e. Automotive) to knowledge based industries (i.e. hi-tech, professional services, high payroll low asset companies). Considering all the talk Granholm made about making Michigan a magnet for research and technology related companies, it is rather ironic that she would want to give them additional disincentives to invest in this state.
2 comments:
As a politician, what could she possibly know? At any given governMENTAL assembly, the vast majority are lawyers. These lawyers are then put in charge of things they have no idea about. They react by heading in a direction they think they know rather than defering to those who can help. That's government. That's BS. That's life.
The good govenor is only about appealing to her base which unfortunately consists of socialists, union members, and people who don't really have any interest in working anyway. Her idea of attracting high tech business to this state is a joke, these businesses serve to provide more tax revenues while only employing a few people, mostly brought with the company when they move here. What I really can't begin to understand, is why people fail to see the utter disdain we regular people are held in by the likes of the good govenor.
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