One of the first beneficiaries of the Michigan Economic Growth Authority tax credit program was Waldenbooks, a subsidiary of Borders Group. The MEGA program, created in 1995, offers tax breaks to companies that invest or locate in Michigan. Waldenbooks chose Michigan over Tennessee and received a reported $7.7 million tax credit. But Michael LaFaive, director of the Mackinac Center's Morey Fiscal Policy Initiative, pointed out that before the MEGA credit was even approved, the Ann Arbor News reported that the company’s president was buying a home in Michigan. LaFaive’s question: Was it really necessary to hand over the $7.7 million...