Nobody likes taxes, and for the last 30 years, we’ve been happily brainwashed into thinking that our taxes are too high.
And, as a result, a leading economist told me the other day, “We have some of the worst roads in the country.” But hold on. If a lot of people are fooled into voting yes on Proposal Five, our roads and everything else are certain to get worse. In fact, much worse.
That’s the conclusion of Michigan State University Economics Professor Charles Ballard, perhaps the top expert on our state’s economy. His short, excellent book Michigan’s Economic Future ought to be required reading for anybody who wants to understand how things work. Believe it or not, there are a few hard facts you need to know about taxes. First of all, we are already paying far less than we once were. Ballard told me, “State and local tax revenues in Michigan are already a much smaller fraction of our economy than they were a few decades ago.”
How much money is that?