Mike Bouchard

Although the reasons for Michigan's malaise are varied, one big reason is our state's almost uniquely uncompetitive tax structure, which one General Motors official called the costliest of all jurisdictions where GM operates.

That tax relief can spur the economy and thereby benefit all Americans is something that Washington Democrats used to understand. President Kennedy, for example, aggressively cut taxes after being elected to stimulate the economy as a means of helping all Americans.

As Ronald Reagan understood, the difference between a good tax structure and a poor one has a very real impact not only on how much money we have in our pockets every April 15th, but whether we have a job to support our families in the first place.

I haven't checked this out yet, but one of our guys told me we have a counselor within 45 minutes to an hour of most small businesses in this country. That's really powerful. I call it our bone structure.

Leverage is great when it works, and when it doesn't work, it creates a lot of issues. So I think if you limit the amount of leverage that people can borrow, or that banks can borrow, I think you'll find that you'll have a lot less issues going forward.