The Bain Report: Articles that Affect You & Your Family for August, 9, 2010

Do state tax incentives create real jobs, or just ribbon-cutting ceremonies?
Richard Short was just the start of it. In March, the Flint businessman appeared with a beaming Gov. Jennifer Granholm at a Lansing news conference, where she announced Short had been awarded $9.1 million in business tax credits to create more than 700 jobs in economically hard-hit Flint. Hours later, Short was arrested on a parole violation. When it was discovered Short was a convicted embezzler, the state quickly revoked his tax-credit award. “These programs create ribbon cuttings and photo ops, but not real jobs,” said Michael LaFaive, from the Midland-based Mackinac Center for Public Policy, a persistent critic of tax incentives.
 
More Tax breaks for two firms OK’d
Warren resident and former councilwoman Gloria Sankuer suggested that council members invite corporate officials to breakfast and ask them to bring their checkbooks. Pointing out that job growth is fine, Sankuer said: “How about asking them to share in our tax burden at this time? “The residents of Michigan don’t get this kind of (tax relief) consideration.”
 
Taxing Canoes and Kayaks
People who hit Michigan’s lakes and streams with their kayaks and canoes may have to pay a $5 fee to the state first as a host of bills looking to tax the state’s summer activities are under consideration.
 
Abolish State Income Taxes?
On average, schools, health and safety, roads, etc. are no better in states with income taxes than those without income taxes. More importantly, the evidence is very strong that people are moving from high-tax states to lower-tax-rate states.
 
States With The Highest Unemployment For The First Six Months in 2010
No surprise here that Michigan is number one on the list. Michigan’s legislators have run the state into the ground! We can only hope that the citizens of this once great state will vote out all the incumbents in the August, 3, Primary and the November, 2, General elections!
 
Michigan’s Borrow-and-Spend Politicians Eye Kids’ Piggybanks
According to MIRS News (subscription required), Michigan House Democrats are talking about using the peoples’ credit card to close a $300 million gap between desired spending and expected revenue in the state fiscal year that begins on Oct. 1. If the borrowing takes place it would be pure Washington-style deficit spending, a perfect example of what author Steve Malanga called in a recent Wall Street Journal article, “slick maneuvers to avoid constitutional borrowing limits.”
 
Michigan Taxpayers Writing Check to 2nd Electric Car Battery Maker for $100 Million
The operators of another Michigan electric car battery plant, A123 Systems, will receive a $100 million cash subsidy from the state for a 75-acre facility the company has leased in Romulus. The subsidy will be in the form of cash because the plant has been granted ”renaissance zone” status by the Michigan Economic Development Corp.
 
Recovery slows, job data show Business hiring lags
A weak June jobs report offered the latest evidence that the economic recovery is non existent. The failed policies of our elected officials here in Michigan and Washington have been a huge reason. In May, home sales plunged and construction spending dropped after a popular homebuyers’ tax credit expired April 30. Consumer confidence has fallen sharply.
 
Home value havoc not over
Revenues for local governments and schools will fall through 2013, according to the budget that will be presented to county commissioners Wednesday. That’s devastating for homeowners who have seen their equity wiped out and in many cases now owe more on their mortgage than their property is worth.
 
Bill to buy crime lab passes Senate
This is insane! Is this the type of representation the citizens expect and deserve? I think not! We cut our children’s education funding and then turn around and pass a Bill to purchase a crime lab. The funding includes $900,000 for purchase and $1.6 million for converting and renovating the crime lab building. I guess this must be essential for our children who will be short changed in education and have nowhere to turn but to crime! What a travesty by our elected legislators.
 
More Than Half of Workers Took a Job Hit During Recession
The recession that began 30 months ago has been one of the most “punishing” downturns since the Great Depression with 55 percent of the labor force saying it had experienced some kind of work-related hardship while the wealth of the average American household suffered its deepest decline in the post-World War 2 era.
 
McCotter Bill Puts Extra Burden on Bloggers
A Michigan congressman is pushing a bill that would empower the Federal Trade Commission to impose fines on Web site operators if they fail to take down personal information posted on their sites. This is the same Republican congressman who voted in favor of the Patriot Act and Homeland security! Sen. Jay Rockefeller, a West Virginia Democrat, Introduced in the Senate (S.773) Cybersecurity Act of 2009 Read The Bill: S. 773 – GovTrack.us which appears to permit the president to seize temporary control of private-sector networks during a so-called cybersecurity emergency. Internet companies and civil liberties groups were alarmed this spring when a U.S. Senate bill proposed handing the White House the power to disconnect private-sector computers from the Internet.
 
Do You Make As Much as a Government Worker?
Federal employees are often called civil servants because their work is considered a “sacrifice” on their part to “serve” the public. But for many of Uncle Sam’s employees, it’s not really that much of a sacrifice to work for the government. Recent findings reveal that, on average, federal employees receive much higher pay, better compensation and more job security compared to their private sector counterparts, forcing a real sacrifice on the part of taxpayers to fund these elaborate benefits.
 
The Founders’ Vision Versus Ours
The celebration of our founders’ 1776 revolt against King George III and the English Parliament is over. Let’s reflect how the founders might judge today’s Americans and how today’s Americans might judge them. In 1794, when Congress appropriated $15,000 to assist some French refugees, James Madison, the acknowledged father of our Constitution, stood on the floor of the House to object, saying, “I cannot undertake to lay my finger on that article of the Constitution which granted a right to Congress of expending, on objects of benevolence, the money of their constituents.” He later added, “The government of the United States is a definite government, confined to specified objects. It is not like the state governments, whose powers are more general. Charity is no part of the legislative duty of the government.” Two hundred years later, at least two-thirds of a multi-trillion-dollar federal budget is spent on charity or “objects of benevolence.”
 
Milan to lose 200 jobs: Automotive Components Holdings plant
About 200 jobs will be eliminated at the Automo­tive Components Holdings plant in Milan as the factory phases out its fascia-manu­facturing operation through the end of this year.http://www.monroenews.com/apps/pbcs.dll/article?AID=/20100708/NEWS01/707089973
 
Homes lost to foreclosure on track for 1M in 2010
More than 1 million American households are likely to lose their homes to foreclosure this year, as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans.
 
Quotas Hidden in Bank Reform Bill Will Cost Taxpayers Millions
Buried deep in the bowels of the massive financial-regulation bill the Senate passed Thursday are massive race- and gender-employment provisions that will cost countless millions to enforce and appear to duplicate other civil-rights initiatives already in place.
 
Taxpayers to foot bill for Kilpatrick’s defense
Clad in an inmate’s uniform and leg irons, a noticeably thinner Kwame Kilpatrick pleaded poverty Tuesday when charged in federal court with 19 counts of fraud and income tax violations. Hours later, James C. Thomas, the same high-powered attorney paid by Kilpatrick to lead a legal team in fighting criminal charges stemming from the text message scandal, was appointed to represent Kilpatrick again — this time at taxpayer expense. What a sham on the taxpayers of Michigan.
http://www.detnews.com/article/20100714/METRO01/7140371/1410/METRO01/Taxpayers-to-foot-bill-for-Kilpatrick-s-defense
 
NRA Openly Floats A Harry Reid Endorsement
The NRA is now openly floating, or at least allowing to be floated, its endorsement of Harry Reid, a man who voted for the Brady Gun Bill. In a New York Times puff piece on the NRA that largely gives the NRA credit for things it tried to undermine (more on that later), there is this: A point of contention on both the left and the right is the N.R.A.’s close working relationship with Mr. Reid, the Senate leader who helped get a number of pro-gun rights measures included in broader bills. That relationship has led some gun rights supporters to lobby against the idea that the N.R.A. might endorse Mr. Reid in his tough re-election campaign this November in Nevada.
 
The Myth of the Social Security “Trust Fund”
“The time of reckoning is already upon us: Social Security is right now in deficit, sucking funds out of the general pool. Americans should brace for further tax hikes — in the name of ‘saving Social Security’ — and anyone under 40 should have no illusions about retirement benefits.”
 
My reading of history convinces me that most bad government results from too much government.
Thomas Jefferson
 
 
  
 
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One Thought on “The Bain Report: Articles that Affect You & Your Family for August, 9, 2010

  1. Pingback: Week in Review « Craig W. Wright

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