Good show everyone. "Jumped the shark" doesn't even begin to cover what has been going on, but it's the closest we can come to describing the idiocy of the current events now playing out before our recession weary eyes. Michigan is facing very serious problems, right now, and you are screeching about things that are well in the future. While this is happening, crucial issues are being ignored in favor of the freak show of the endless partisan battles.
For example, we now know that the Senate Republicans don't know the difference between a tax credit and a tax cut. That is very important news, and shows that perhaps the Senate Republicans don't even have a rudimentary understanding of a basic economic principle. And yet, somehow that is not making the headlines, the fact that the Senate Republicans are now going to seriously obstruct job creation in the midst of the worst national recession we have seen since the Great Depression.
Here's Matt Marsden, trying to tell us that the state can't afford the MEGA tax credits to attract new jobs and investment. It's complete and total bull.
But Matt Marsden, spokesperson for Mr. Bishop, said with a $1.7 billion estimated deficit for the 2009-10 fiscal year, "where are we getting the money?" for these credits.This is about the most idiotic thing the man has ever said, and when it comes to Marsden, that is really saying something. Credits come after someone else gives us the money first. It has nothing to do with "spending" - but now, this is the new talking point coming the Senate Republicans, trying to mislead citizens about the nature of the program. Greg Main from MEDC:
Calling for action to enact more credits is just calling on the Legislature to spend money it doesn't have, Mr. Marsden said.
But Mr. Main said the credits are performance-based and allocate no state money until the firms actually establish jobs. In that way, the state does not lose money on the one end until the companies are creating revenues on the other, he said.So the Senate Republicans are really stupid, or they are flat-out lying. Take your pick, both fit. Nancy Cassis is the one holding this up in committee. Since this next little tidbit about Nancy's "issues" came out as well...
While the Senator would not directly link it, she hinted that the eventual agreement could include some concessions from the Granholm administration on the so-called Hollywood film tax credit.... the real agenda has become clear.
She did say that "refundable credits" in general were on the table and she did not refute the assertion that film credits were part of that.
It is no secret that Cassis hates the film credits, and now Bishop will back her up by lying about the nature of the MEGA program - and Michigan is going to lose out on new jobs.
Going to repeat that: Michigan is going to lose out on new jobs if they don't move this legislation.
That should be the outrage of the week. The rest of the outrage can wait until later. I'm sure Lansing will provide plenty of it. They always do.