As the majority of political hopefuls from Pennsylvania to Minnesota campaign on the idea of slashing taxes to spur the sputtering Great Lakes economy, a leading Michigan think tank says attracting top talent, not lower taxes, is the key to economic prosperity in the 21st century.
In an editorial appearing in yesterday's Detroit News, Lou Glazer, president of the Ann Arbor-based Michigan Future says that states with a higher number of college graduates (Massachusetts and Colorado, for example) tend to have higher per capita incomes than the states with the lowest business taxes (Arkansas and Alabama, for instance).
"Which group of states do we want to be like," Mr Glazer asks. "Those with low business taxes and, by and large, below the national average prosperity or those with high education attainment and high prosperity?"
The leading candidates for governor agree the region must become a magnet for top talent to compete in the global economy. Most also cater to the anti-tax crowd in their speeches and campaign websites.
But the region can't have it both ways. Attracting the talented workers requires a much more substantial and targeted public invest in key amenities like higher education, mass transit, internet access, and environmental quality.
