Posted on 08/07/2012 7:20:56 PM PDT by DogByte6RER
Actually the citizens have been forewarned: You have twenty years to sell your house and get thee hence out of here as far a way as possible.
Public and private entities borrow money all the time. Repayment in the future is part of every loan.
A corporation can agree to borrow money now and repay it in 100 years if the lender agrees even though the corporation will be owned by different shareholders (people not yet born) when repayment becomes due. No one is required to be a shareholder in 100 years.
Similarly, no one will be required to be a taxpayer in the Poway school district in 20 years. If they choose to live in that district and own property there at that time, they are choosing to be taxpayers there at that time.
There's nothing involuntary about any of this.
Father in Heaven. They might be better off borrowing from the Mob.
And there is always the bankruptcy route which other Cali cities are now going down. In that case the bond holders lose.
Jefferson had some very pointed words already posted.
Yes, he did. I'm not sure if that was before or after he financed the Louisiana Purchase in part with borrowed money.
Glad to hear you support confining the young folks to debt slavery to pay for your profiglacy.
It may sound bad but it works out to 8.2% annual interest rate. First 20 years the $100 million grows to $483 million with 8.2% interest. Next 20 years, $50 million a year pays 8.2% annual interest and amortizes the $483 million.
Foolish perhaps to take 40 year money to do this year’s landscaping and painting but not really 1200% interest or anything like that.
Hey, it’s the American way.......
Never ask what the total cost is...only ask how much per month is it.
People are forced by a gun to pay taxes, not to freely join a corporation. When our elected leaders say that the next generation will be required to pay for our needs today, it is the same thing as selling our children into SLAVERY. I cannot pass my personal debts to my children when I Die, why should we as a society????
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