Just today, I received the following note from a local auto body shop owner. I am getting notes like this on a weekly basis...
We just received the news from our tax accountant of the estimated amount of MBT (Michigan Business Tax) for 2008 for our organization. For 2007 we paid about $20,000 of SBT (Single Business Tax). The estimate for 2008 is $68,000 an increase of 240%. If you see the governor tell her and the rest of your fellow legislators.
I am not a pessimist, and I am not a "doomsday prophet" but, I am beginning to believe that when it comes to virtual destruction of our employment base in Michigan, we have only seen the tip of the iceberg.