Irish_mafia Member Username: Irish_mafia
Post Number: 768 Registered: 10-2003
| Posted on Saturday, March 10, 2007 - 12:57 pm: | |
Right thinking. http://detnews.com/apps/pbcs.d ll/article?AID=/20070310/METRO /703100399 |
Granmontrules Member Username: Granmontrules
Post Number: 40 Registered: 01-2007
| Posted on Saturday, March 10, 2007 - 1:17 pm: | |
This sounds like great news. I received my NEZ tax notice last week. I did not give the % but I hoping for 27-30%. This plan sounds like an even further reduction. |
Irish_mafia Member Username: Irish_mafia
Post Number: 769 Registered: 10-2003
| Posted on Saturday, March 10, 2007 - 1:21 pm: | |
Which of course will incentivize further investment in the city and increase (or at least stem the reduction of) actual tax revenues. Kind of the opposite of our governor's tax increase which will discourage investment, drive businesses and individuals out of the state and further deplete the state's coffers. |
Charlottepaul Member Username: Charlottepaul
Post Number: 653 Registered: 10-2006
| Posted on Saturday, March 10, 2007 - 1:43 pm: | |
According to the article it sounded as though he was planning to cut income tax, not the property taxes. I guess we will have to wait and see in his state of the city speech or for the announcement in mid April. |
Ccbatson Member Username: Ccbatson
Post Number: 135 Registered: 11-2006
| Posted on Saturday, March 10, 2007 - 1:45 pm: | |
Sounds good...but very suspicious considering the source. Has the Leopard changed his spots? |
Livernoisyard Member Username: Livernoisyard
Post Number: 2733 Registered: 10-2004
| Posted on Saturday, March 10, 2007 - 2:11 pm: | |
KK conveniently omits discussing the obvious: What will Detroit do after all the proceeds from the billions of bonded debt is spent? It's mostly spent already as it is now because more than $2 billion already was spent and has to be repaid. How long will another $1 billion or more in the hands of dishonest politicians last? It took DPS an incredible short time to blow through nearly $2 billion on special state aid this decade and they're in worse shape than ever--with no prospects for recovery, IMO. The city will do likewise with its bond proceeds. That is, if the state allows Detroit to even start. Detroit needs state approval for most project these days due to its past and present performance. Whatever KK wants is not guaranteed at this time, especially considering his first term and all the graft and corruption that still seems to be going on--waiting for yet more disclosures to surface. |
Charlottepaul Member Username: Charlottepaul
Post Number: 658 Registered: 10-2006
| Posted on Saturday, March 10, 2007 - 2:28 pm: | |
It does seem as though issuing bonds to lower taxes is really odd. You could see it happening for improvement projects or maybe even fixing up downtown or the neighborhoods, but to be used for general spending as a replacement for revenues from taxes. Seems like a bit of a stretch. |
Mackinaw Member Username: Mackinaw
Post Number: 2538 Registered: 02-2005
| Posted on Saturday, March 10, 2007 - 2:35 pm: | |
This is why I like KK. |
Livernoisyard Member Username: Livernoisyard
Post Number: 2734 Registered: 10-2004
| Posted on Saturday, March 10, 2007 - 2:46 pm: | |
KK likes to be considered important--like a Mafia don. One way for this to happen would having him dispense over $1 billion with little accountability. It wasn't long ago that Time Magazine labelled him as one of the three worst US mayors. BTW, one of those three lousy mayors resigned as a result of that magazine's award. Maybe a litany of KK's actual or proposed suspicious dealings could be created. I'll start by posting just one (and leave the rest of the obvious items for others)... King Kwamme's list of accomplishments--even adding an occasional good one is OK (1) The scam concerning the conversion of the MCS into a new police headquarters. The stated rationale was that the older one was too old. In actual fact, the crumbling old MCS is even older than the old police station. And the MCS mess of a building might take $140 million or more to convert to another use. Did I mention the political contributions made by the owner of the MCS? Probably not... (Message edited by LivernoisYard on March 10, 2007) |
Charlottepaul Member Username: Charlottepaul
Post Number: 659 Registered: 10-2006
| Posted on Saturday, March 10, 2007 - 4:09 pm: | |
Livernoisyard, you do know that the plan to convert the MCS into the police headquarters didn't go through. I think that many people realized that "the crumbling old MCS is even older than the old police station. And the MCS mess of a building might take $140 million or more to convert to another use." So what was the scam in suggesting a police station as possible use for MCS? |
Livernoisyard Member Username: Livernoisyard
Post Number: 2735 Registered: 10-2004
| Posted on Saturday, March 10, 2007 - 4:17 pm: | |
It's rather patently obvious, so I'll let you exercise your mind on that one. BTW, Detroit Auditor General Joe Harris (one of a some honest officials in Detroit) publicly spoke out against the MCS/police debacle before his 10-year tenure ended a while back. Google those comments yourself... |
Nyburgher Member Username: Nyburgher
Post Number: 88 Registered: 10-2006
| Posted on Saturday, March 10, 2007 - 9:03 pm: | |
So everybody keep quiet about this being supply side economics. It's ok if a democrat does it. |
Nyburgher Member Username: Nyburgher
Post Number: 89 Registered: 10-2006
| Posted on Saturday, March 10, 2007 - 9:07 pm: | |
A Democratic Mayor getting advice from Goldman Sachs to basically do a leveraged buy out type deal. The world is changing. |
Ccbatson Member Username: Ccbatson
Post Number: 136 Registered: 11-2006
| Posted on Saturday, March 10, 2007 - 10:41 pm: | |
Supply side economics, in a pure form, is a good thing no matter who endorses it. It is just very unusual and suspicious coming from the left. |
Nyburgher Member Username: Nyburgher
Post Number: 90 Registered: 10-2006
| Posted on Saturday, March 10, 2007 - 10:59 pm: | |
Spend the money. Cut Taxes, lure in suckers and then do a retro-active tax increase? It's like getting a dinner invite from a vampire. |
Ccbatson Member Username: Ccbatson
Post Number: 137 Registered: 11-2006
| Posted on Sunday, March 11, 2007 - 12:30 am: | |
By supply side economics (again, ideally speaking), you have lower taxes at the top, unfettering and encouraging growth by preserving the capital allowing for reinvestment which translates into more employment, more profit, more dispensable income on all levels, which recirculates into the economy on many other levels. I did not intend to endorse this political charade as a good example of this phenomenon, rather to redirect criticism away from this economic principle as being evil and the mechanism for what will likely end up being an oppressive and abusive fraud in character with the person responsible for its' design and implementation (KK). That said, lower taxes is a good concept as well, so long as it is payed for by lower spending (or embezzlement, or both). |