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By JGillman, Section News
Taxes paid into the crony capitalist federal bureaucracy, as well as into our own state coffers gave an assist to a tech transfer to a competing nation.
The MEDC usually has simple results of failure, highlighted by jobs claims not materializing, eventual bankruptcies, and occasionally giving our money away to fraudsters. Channeling the zen masters in Lansing's sacred halls of executive investing excellence, it provides a leg up to those who know how to play the system for their advantage over other businesses. Countless photo opportunities for politicians who 'bring home the bacon' can be counted on, as long as the MEDC efforts are funded with millions of our hard earned dollars. Photo ops equal exposure, equals career doors opening for friends and family, and through the entire process equals some serious bling for those actively participating in its promotion.
Picking winners has never been so lucrative.
This time its potentially more dangerous. Last year, after my failed bid in the Republican primary, I produced a radio spot which predicted the A123 situation's end quite accurately.
(2 comments, 736 words in story) Full Story
By JGillman, Section News
Carl Levin has a bridge to sell you over some swampland in Michigan.
In Mid-December, Senator Carl Levin posted a position piece supporting further battery technology spending by taxpayers in Michigan. He states:
In other words we have failed miserably in our efforts to date, and we should really double down.
Between the sale of battery technology to China, and a dismal failure of LG Chem to realize the investment made:
"But now you're getting it. Reporters who visited the Michigan factory of the South Korean company LG Chem, which got $151 million in stimulus money to manufacture lithium-ion batteries, discovered workers sitting around playing Monopoly and poker. The employees said it wasn't their fault: "What do you do when there's no work?" "Sure why not follow THESE successes with additional money thrown around.
As far as going all-in with these schemes, one might better be served with the proverbial 'fool me once .." advice. Frankly, Senator Levin should take the advice given to Harry Reid by the weeper last night.
At least the recipient would be 'getting it' voluntarily.
(3 comments) Comments >>
By Corinthian Scales, Section News
Fact is folks, Michigan has been blessed with our Balanced Budget Law... partially. However, with every term of vote buying, and interest lobby bought off congresscritters we send to Lansing, proclaiming that R is for reverse, and D is for driving into a ditch, our bloated budget habitually reflects that like a teenager with a new license to the family car - the keys need to be restricted from exposure. As it should be, most youth behaves carefree with their new power to blaze their own trail on the open roads, however, that still leaves mom, and dad held responsible for the family car. It's a fact of life - when the little darlings have a fender bender caused by doing things other than paying attention to the road, any damage caused comes out of the family wallet to fix the car.
Yessirree. Article V, Section 18 is merely PLPD coverage on the family car. Out of pocket repair bills is exactly the exposure that every Michigan family faces with handing the keys to their little darlings behind the Lansing wheel. What's that? A smart family should know to also carry collision, or, Full Coverage if entrusting others with risks to the family vehicle? Well, with just checking the old inbox, that is the message that the good folks over at the Michigan Capitol Confidential are driving home on Prop 5.
The idea behind a Tax Limitation Amendment is to make it more difficult for the political class to pilfer the pockets of taxpayers. Research -- most notably by scholar Mancur Olson -- has shown time and again that in democratic nations the wishes of an electorate are often ignored by narrow special interests that seek costly "favors" from the government. Politicians all too frequently accommodate those favors (be they subsidies or tariffs or spending hikes or other items) in part because their contributors and powerful constituents support them. Increasing taxes also is often a path of least resistance.
Amen! So, the natural question must be asked, why is it that the biggest opponent of Prop 5, Rick Snyder, a CEO, and CPA mind you, is behaving like a teenager who incessantly tells dumb 'ol mom and dad who are liable for his actions that he can text and drive?
The funny thing is with Halloween approaching, skeletons do come out of the closet...
(786 words in story) Full Story
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