I wonder just how high the unemployment rate would be in MI if we hadn't seen such an exodus of Michiganders fleeing the state to find work elsewhere?
If the real unemployment rate is at 20% now, it'd probably be closer to 25% or higher had all those folks not left the state to find gainful employment in other parts of our Union.
So couple the loss of those potential tax payers (at least paying the state sales tax on stuff) along with the loss in income tax revenue from the unemployed and the loss in real estate taxes due to foreclosures and it's no wonder they have a gaping hole in the budget.
At noon, I heard the state budget director (I think that's who they quoted) saying, "we can't cut our way to a balanced budget." Nope. Can't do that. But by god we can spike the sales tax up on all services.
That's always the answer with Democrats. Tax, tax, tax your way to prosperity. Too bad only the opposite happens when such policies are enacted.
DCuz
www.RightCuz.com
