Michigan Unemployment rate and debt!

[Jay D.]

Well, some know already, but Michigan is in a huge slum right now. With a 15% unemployment rate, our governor Jennifer Granholm has really screwed us over.

She has raised taxes on Businesses and put extra taxes on upper class persons.
Not to mention the whole auto crisis, which is what you most know Michigan of, but what you dont know is how long the lines are at unemployement offices and how long of a wait it is to wait for a banker to help you on a home loan you cant afford.


Here is a Wall Street Journal Article.
Today’s Wall Street Journal.


The State of Joblessness


The tragedy of Jennifer Granholm's Michigan.
State lawmakers will soon face large budget deficits again, perhaps as much
as $100 billion across the U.S. Here's some free budget-balancing advice:
Steer clear of the Michigan model. The Wolverine state is once again set to
run out of money, and it is once again poised to raise taxes even as jobs
and businesses disappear.


In 2007 Governor Jennifer Granholm signed the biggest tax increase in
Michigan history, with most of the $1.4 billion coming from business. The
personal income tax-which hits nonincorporated small businesses-was raised
to 4.2% from 3.95%, and the Michigan business tax levied a surcharge of
22%. The tax money was dedicated to the likes of education, public works,
job retraining and corporate subsidies. Ms. Granholm and her union allies
called these "investments," and the exercise was widely applauded as a
prototype of "progressive" budgeting.


Some prototype. Every state has seen a big jump in joblessness since 2007,
but with a 15.2% unemployment rate Michigan's jobs picture is by far the
worst. Some 750,000 private-sector payroll jobs have vanished since the
start of the decade. For every family that has moved into Michigan since
2007, two have sold their homes and left.


Meanwhile, the new business taxes didn't balance the budget. Instead,
thanks to business closures and relocations, tax receipts are running
nearly $1 billion below projections and the deficit has climbed back to
$2.8 billion. As the Detroit News put it, Michigan businesses are
continually asked "to pay more in taxes to erase a budget deficit that,
despite their contributions, never goes away." And this is despite the
flood of federal stimulus and auto bailout cash over the last year.


Following her 2007 misadventure, Ms. Granholm promised: "I'm not ever going
to raise taxes again." That pledge lasted about 18 months. Now she wants
$600 million more. Among the ideas under consideration: an income tax
increase with a higher top rate, a sales tax on services, a freeze on the
personal income tax exemption (which would be a stealth inflation tax on
all Michigan families), a 3% surtax on doctors, and fees on bottled water
and cigarettes. To their credit, Republicans who control the Michigan
Senate are holding out for a repeal of the 22% business tax surcharge.


As for Ms. Granholm, she and House speaker Andy Dillon continue to bow to
public-sector unions. There are now 637,000 public employees in Michigan
compared to fewer than 500,000 workers left in manufacturing. Government is
the largest employer in the state, but the number of taxpayers to support
these government workers is shrinking. The budget deadline is November 1,
and Ms. Granholm is holding out for tax increases rather than paring back
state government.


The decline in auto sales has hurt Michigan more than other states, but the
state's economy would have been better equipped to cope without Ms.
Granholm's policy mix of higher taxes in order to spend more money on
favored political and corporate interests. If any larger good can come of
the experience, it is that Michigan is teaching other states how not to
govern.
Printed in The Wall Street Journal, page A20


Copyright 2009 Dow Jones & Company, Inc. All Rights Reserved

[Natural Elements]

The problem with politicians when things are going bad, they just raise taxes.

Michican, Nevada, California, Florida are in pretty bad shape. Here in Nevada, they raised sales tax, doubled state licence fees (Two years ago state licence wasn't mandatory for sole proprietors). Anyway its just put more pressure on businesses and consumers. Now the sale taxes revenues dropped about 24% because people cut back their spending on everything.

It seems like in California they double the registration fees, raised the properties tax fees, not sure they will do that in Nevada, who knows...

I saw the news, the US is not in recession anymore but they are still in crisis.

[cwebbatya]

wowwww. I would say that I feel bad for you in a way. Get in your car and drive a couple hundred miles here to minnesota

[Natural Elements]

U.S. Michigan Sentiment Index Fell to 70.6 This Month
http://www.bloomberg.com/apps/news?p...d=a7pCmIA_vd3M

[Jay D.]

Michigan is getting really bad now. My Dad was unemployed for 1 year and he was a Ford Plant Manager meaning he was at the top of the chain.

If you feel bad for me, please Donate to my poor person fund lol!

[Natural Elements]

Originally Posted by Jay D.

Michigan is getting really bad now. My Dad was unemployed for 1 year and he was a Ford Plant Manager meaning he was at the top of the chain.

If you feel bad for me, please Donate to my poor person fund lol!

You will be surprised to know how people are employed in Renault or Peugeot and Citroen, 40% of their work force are interim employed paid the equivalent of $8-$10 per hour.

Unemployed 1 year is very common these days, unfortunately that's the way it is.

The new trend is working "a la carte" ...

[Natural Elements]

The Senate voted overwhelmingly today to move forward on additional unemployment benefits, but it is unlikely to wrap up the high-stakes issue for Michigan's jobless workers before Thursday.

The Senate voted 97 to 1 to end debate and move ahead on the overall bill that includes an extra 20 weeks of jobless benefits for states like Michigan with high unemployment rates.


"Meanwhile, 600,000 Americans have cashed their last checks. Without congressional action, 1.3 million Americans will have gone through their last checks by year's end."

http://www.detnews.com/article/20091...bless-benefits

[Icedout]

Seriously, you can't put the blame on one person. There's a ton of elements that led us up to these problems. Outsourcing, Health Care, technology, inflation, etc... List goes on in on, for more info I explained here in this post - link
.

It just hit us hard in Michigan because we are dependable on the Auto companies. You could actually blame your neighbor for buying a foreign car. But, like I said, it's a bunch of things that led us up to this point.

[Natural Elements]

Originally Posted by Icedout

Seriously, you can't put the blame on one person. There's a ton of elements that led us up to these problems. Outsourcing, Health Care, technology, inflation, etc... List goes on in on, for more info I explained here in this post - link
.

It just hit us hard in Michigan because we are dependable on the Auto companies. You could actually blame your neighbor for buying a foreign car. But, like I said, it's a bunch of things that led us up to this point.

Michigan is hit pretty hard, and don't think you are alone. Here in Nevada it looks pretty bad too.

Automobile industry is not like it was before, on some American models you've got 70% of imported foreign parts, that's the globalization and I don't like it the way it is. We can have fair trade instead of full imports that destroy US employments, industries, etc

But the elite prefer to play the game another way.

[Icedout]

Originally Posted by Natural Elements

Michigan is hit pretty hard, and don't think you are alone. Here in Nevada it looks pretty bad too.

Automobile industry is not like it was before, on some American models you've got 70% of imported foreign parts, that's the globalization and I don't like it the way it is. We can have fair trade instead of full imports that destroy US employments, industries, etc

But the elite prefer to play the game another way.

Yes you're right about foreign parts, but the big three employed a ton of Americans and gave great benefits. And the big three are connected to many other companies such as Delphi that employed Americans. It's one big domino effect, once three prime companies fail in a state many other businesses do too.

For instance, could you imagine what would happen to all of us if Google failed.

The big three paid a ton in health care and high wages, while foreign companies didn't pay anywhere near the amount the big three did.

[NewMedia422]

Originally Posted by Natural Elements

The problem with politicians when things are going bad, they just raise taxes.

Don't you mean the problem with politicians is our POLITICAL structure. A king could be considered a politician, but he arrives to power much differently than say, in a democracy. All of our presidents for a century have all been lawyers. Wonder what lawyers and politicians have in common: both require a lot of money and a lot of lying.

The problem is with our political system, Democracy, which rewards the best liar with the reigns of power. It is a contest whereby those who are experts at twisting the truth and preventing "leaks", are presented with ultimate power as their prize. The whole campaign process is merely that of lying, trying to twist public opinion, and distort your enemy's position.

All of the worst genocidal maniacs were produced through political systems that allowed them to use their charisma to rise to power. Hitler was elected in a Republic like ours (elected chancellor). Mao Zedong was elected to a congress before taking over. Stalin was elected to a Soviet worker's council. Sorry for the offtrackness, but in summation you can't blame the governor or president for being lying scum. Democracy is a political system which rewards the best liar with power. This is also why it is claimed to be the best system: it has some pretty good liars to back it up!

[Natural Elements]

I think you resumed pretty well: "All of our presidents for a century have all been lawyers. Wonder what lawyers and politicians have in common: both require a lot of money and a lot of lying."

[Icedout]

Originally Posted by Natural Elements

I think you resumed pretty well: "All of our presidents for a century have all been lawyers. Wonder what lawyers and politicians have in common: both require a lot of money and a lot of lying."

Nice, ain't that the truth!