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Tag: Political favors
To Meet the legal obligation and receive $125,000,000.00 from Michigan Taxpayers, A123 needs to create only how many jobs? In a Capitol Confidential piece today, Tom McMillin says:
McMillin poured through the legal documents on the deal and said that the company only needs to create 300 jobs by Dec. 31, 2016 to get most of the state money and doesn't need to create a single job to get the $249 million in federal aid. A123 Systems would have to create 350 fulltime jobs by August 2012 to have a $4 million loan forgiven.
Unless my calculator app on this PC has another one of those floating point problems of yore, I see $416,666 that Michigan taxpayers are paying per each required job in addition to the two times that of federal money.
(9 comments, 565 words in story) Full Story
Anyone who has read my work here, or at MTTM on a regular basis, might have an understanding I am not a big fan of the MEDC, or for that matter, of any government funded operation that has as a matter of its business model, a mandate to give away tax payer dollars. I disagree with any particular favoritism by government, and any funding from government towards private business entities that essentially picks winners out of a basket of marketplace entries.
The reasons I disagree with these methods of "spurring economic growth" are many, but essentially, a direct credit or payment to a business for it to settle in a particular location is "Taking" from others who pay the dues (taxation) and giving to another without any benefit to the payers, and in some instances working directly against their best interests..
There are "Public use" vs. "Public good" arguments that look at government's practice of taking. The 5th amendment: "Private property shall not be taken for a public use, without just compensation", addresses a reasonable goal of keeping citizens whole when it becomes necessary to use what they own for the common use of the citizens. And in a smaller way, the taxes we pay, are presumably for the necessary operation of government services, which we also presumably benefit from "equally."
(4 comments, 830 words in story) Full Story
External FeedsMetro/State News RSS from The Detroit News
+ Craig: Cushingberry tried twice to elude police, was given preferential treatment
+ Detroit police arrest man suspected of burning women with blowtorch
+ Fouts rips video as 'scurrilous,' defends Chicago trip with secretary
+ Wind, winter weather hammer state from Mackinac Bridge to southeast Mich.
+ Detroit Cass Tech QB Campbell expected to be released from custody Friday
+ New water rates range from -16% to +14%; see change by community
+ Detroit's bankruptcy gets controversial turn in new Honda ad
+ Royal Oak Twp., Highland Park in financial emergency, review panels find
+ Grosse Ile Twp. leads list of Michigan's 10 safest cities
+ Wayne Co. sex crimes backlog grows after funding feud idles Internet Crime Unit
+ Judge upholds 41-60 year sentence of man guilty in Detroit firefighter's death
+ Detroit man robbed, shot in alley on west side
+ Fire at Detroit motel forces evacuation of guests
+ Survivors recount Syrian war toll at Bloomfield Hills event
+ Blacks slain in Michigan at 3rd-highest rate in US
Politics RSS from The Detroit News
+ Apologetic Agema admits errors but won't resign
+ Snyder: Reform 'dumb' rules to allow more immigrants to work in Detroit
+ GOP leaders shorten presidential nominating season
+ Dems: Another 12,600 Michiganians lose extended jobless benefits
+ Mike Huckabee's comments on birth control gift for Dems
+ Granholm to co-chair pro-Clinton PAC for president
+ Republican panel approves tougher penalties for unauthorized early primary states
+ Michigan seeks visas to lure immigrants to Detroit
+ Peters raises $1M-plus for third straight quarter in Senate bid
+ Bill would let lawyers opt out of Michigan state bar
+ Michigan lawmakers launch more bills against sex trade
+ Balanced budget amendment initiative gets a jumpstart
+ Feds subpoena Christie's campaign, GOP
+ Poll: At Obama's 5-year point, few see a turnaround
+ Obama to release 2015 budget March 4
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