Monday, April 09, 2007

Speaking of "free iPods"...

From the Detroit News:
We have come to the conclusion that the crisis Michigan faces is not a shortage of revenue, but an excess of idiocy. Facing a budget deficit that has passed the $1 billion mark, House Democrats Thursday offered a spending plan that would buy a MP3 player or iPod for every school child in Michigan.

No cost estimate was attached to their hare-brained idea to "invest" in education. Details, we are promised, will follow.
Their plan goes beyond cluelessness. Democrats are either entirely indifferent to the idea that extreme hard times demand extreme belt tightening, or they are bone stupid. We lean toward the latter.
The range of options, according to Rep. Steve Tobocman, D-Detroit, includes raising the income tax, levying a 6 percent tax on some services, and taxing junk food and soda.

We wonder how financially strained Michigan residents will feel about paying higher taxes to buy someone else's kid an iPod.
For example, Dillon says he would shift the burden of business taxes to companies that operate in Michigan, but don't have a facility here. The certain outcome of that plan is to drive even more businesses out of Michigan.
Stop the stupidity. Michigan can't tax or spend its way out of this economic catastrophe.

The only responsible option is to bring spending in line with current revenues. The mission must be to expand the tax base, rather than to expand taxes, by crafting a budget that encourages growth.

We won't get there by wasting money on early Christmas presents for Michigan kids.

In case you wondered why I have certain posts like this one labeled "economic ignorance", wonder no more. Michigan is one state that has not enjoyed the benefits of the nation's booming economy, largely due to its own economic ignorance and liberal legislators. Businesses have been leaving, so Michigan's brilliant answer tax those remaining businesses remaining in order to buy Junior an iPod?

As long as the good people of Michigan keep electing economic illiterates (i.e. Democrats) to get them out their mess, they deserve to wallow in said mess.

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