http://www.grpundit.com/2010/03/11/michigan-tax-revenue-shows-sharp-decline-in-february/ Politics | Economics | Society | Grand Rapids, Michigan Tue, 13 Sep 2011 15:32:09 +0000 hourly 1 http://www.grpundit.com/2010/03/11/michigan-tax-revenue-shows-sharp-decline-in-february/#comment-642 CADPundit Sat, 13 Mar 2010 06:22:48 +0000 http://www.grpundit.com/?p=465#comment-642 What happens when you take the working capital out of a business??? It falls flat on it's face. The largest Michigan tax increase in memory, both on businesses and individual households, took place a year and a half ago draining most working capital from businesses and households alike. State revenues are now locked in a death spiral. You have to be careful what you ask for...you may get it. The answer as to why sales tax revenues have held up is the sales tax on motor fuels continues to climb with the increase in the cost of fuel per gallon. Never heard any complaints regarding that little bonus from Lansing...right...as it drains the last of the working capital from remaining businesses and households alike? PURE MICHIGAN INDEED!!!!!!!!!! What happens when you take the working capital out of a business??? It falls flat on it’s face. The largest Michigan tax increase in memory, both on businesses and individual households, took place a year and a half ago draining most working capital from businesses and households alike. State revenues are now locked in a death spiral. You have to be careful what you ask for…you may get it. The answer as to why sales tax revenues have held up is the sales tax on motor fuels continues to climb with the increase in the cost of fuel per gallon. Never heard any complaints regarding that little bonus from Lansing…right…as it drains the last of the working capital from remaining businesses and households alike? PURE MICHIGAN INDEED!!!!!!!!!!

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