Problem is, Obama's stash is mutating into something strange...
Posted on 11/15/2013 9:46:47 AM PST by SeekAndFind
Today they’re just getting some of Obama’s BS. (Sebelius is in town to talk health care)
“Those able to pay taxes can easily LEAVE the cities for the suburbs, or relocate to a friendlier state”
I think they have already been through that step.
“Cities/states have taxing ability. “
Taxing more than places where people could relocate to is what got them in this mess. Also, residents are no longer paying their property taxes. The only business of note still in Detroit is GM’s headquarters. I suspect they have a sweetheart deal to stay there.
kick the can.......
Washington, DC: Seventeen trillion dollars? Don’t worry about it, it’s not due today.
Detroit is a scale model of D.C. it’s just a matter of time before they end up with similar results.
Hmm... So what just might happen then is the city is dissolved, assets are turned over to the county to sell off to pay what debt they can, and then everyone else gets screwed, 0 pension, 0 city jobs, etc. Methinks the unions need to work with the city more.
Michigan and Detroit taxes are already so high that the population and the business base has been abandoning the city for decades. Tax increases merely exacerbate the problem. They solve nothing.
They also can sell city parks, community centers, athletic complexes etc. Probably not an action that most elected officials would want to be a part of, but it would be a way out.
Sell to whom? There are literally THOUSANDS of homes and properties in the Detroit area that can be bought for $1... and nobody is buying. Nobody wants to live in this Democrat paradise, and nobody wants to buy or build or relocate there.
Instead, LOWER taxes, and remove most of the oppressive Democrat anti-business regulations and rules, and Detroit might have a chance. Slicing the union pensions and benefits would improve those chances. Nothing else, short of a massive bailout, can possibly work.
Theoretically and historically, the appointment of a judge, master or arbitrator has been to bring fairness and confidence into the resolution of a contract when it is impossible for all contractual obligations to be fulfilled.
Lately these positions may be held by politically biased individuals (either way), thus bringing instability back into the process.
We (and Detroit) are between a rock and a hard place.
It should be. There is a lot of stuff to be liquidated, starting with a very valuable art collection...
THERE ISN'T ANY!
We used to be a nation that lived by the rules of law, until the law makers and law enforcers became the biggest law-breakers. The laws are now unequally applied (I don't like that law, so I'll ignore it, and the one's I like won't apply to me..! --- Federal Government), Ignorned, and now anarchy is rearing its ugly head...
Problem is, Obama's stash is mutating into something strange...
There can be no good faith negotiations with unions because they have no good faith.
“owing more than $18 billion in debt “
Can we make payments? We’ve been out of work.
Detroit taxes are already at the maximum state law will allow. They can’t increase taxation!
They’ll have to find a way to levy user fees and non-user fees too.
Detroit taxes are already at the maximum state law will allow. They can’t increase taxation!
IIRC from their bankruptcy filing, they already have most of those set to beyond extortionate levels.
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