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Detroit has been bad for years and years it just gets pockets of worse thrown in. When you keep people poor and uneducated for the most part this is what happens.
......When people read to their kids then the kids read better. Simple.
When the core of a cities dies there is no one there to pay the property taxes on that which is vacant and forclosed. This had nothing to do with tax cuts and everything to do with decreased tax revenue (municipal and country, not federal) as people left Detroit by the thousands.
And yes, under Obama the USA is sliding into a 3rd world in more than once city. The government is not there to help or protect you. Your arse is your own to defend. Get training while it is still legal.
Yeah this all started with Barack Obama in office. Some of you are beyond sad. He is the president..GET OVER IT!
Just blame it all on liberals. Do you even bother to use your brain?
San Francisco is way more liberal than Detroit in every sense, and it is thriving. What does that tell you?
Ditto Seattle, San Diego, NYC...etc.
You never stop at traffic lights at night in Detroit, it's been that way for 40 years, since Obama was a little Kenyan Muslim studying European Socialism in Indonedia.
When the core of a cities dies there is no one there to pay the property taxes on that which is vacant and forclosed. This had nothing to do with tax cuts and everything to do with decreased tax revenue (municipal and country, not federal) as people left Detroit by the thousands.
And yes, under Obama the USA is sliding into a 3rd world in more than once city. The government is not there to help or protect you. Your arse is your own to defend. Get training while it is still legal.
Ask yourself why the core of a city dies? Its after the arrival of rents. They will inevitably be priced more than the market can bare which will result in negative equity spirals.
The tax is going to the bankers. What ever ground rents are left to the market will just turn into an interest payment to a banker. They under taxed the ground rents and allowed property values to move beyond their worth. Had they kept the real estate prices down, they could have removed this tax.
I do realize they would have squandered the tax money and gave it to cronies, but that would have been the second mistake.
A quick way to try save the city would have been a labor and capital tax holiday with taxes being shifted to ground. That would have at least purged those trying to milk what was left of the property and encourage something to move in. . Now it takes generations for them to realize the loss. People make property valuable, not the other way around.
People want more wealth than they can get. The basis of wealth is labor. How can there be overproduction as long as people are willing to give their labor in return for things? Likewise, when workers and machinery are forced to stand idle, how can one claim overconsumption? The desire to consume coexists with the willingness to produce. So industrial and commercial paralysis cannot be attributed to either overproduction or overconsumption.
Clearly, the trouble is that production and con- sumption cannot meet and satisfy each other. This, it is commonly agreed, arises from speculation. But speculation in the products of labor simply tends to equalize supply and demand. It steadies the interplay of production and consumption, much like a flywheel in a machine. This has been well shown, and spares me the need to illustrate it.
Therefore, the problem must be speculation in things that are not the product of labor. Yet it must be things needed for production. And finally, it must be things of fixed quantity.
The cause of recurring recessions must be speculation in land.
Ask yourself why the core of a city dies? Its after the arrival of rents. They will inevitably be priced more than the market can bare which will result in negative equity spirals.
The tax is going to the bankers. What ever ground rents are left to the market will just turn into an interest payment to a banker. They under taxed the ground rents and allowed property values to move beyond their worth. Had they kept the real estate prices down, they could have removed this tax.
I do realize they would have squandered the tax money and gave it to cronies, but that would have been the second mistake.
A quick way to try save the city would have been a labor and capital tax holiday with taxes being shifted to ground. That would have at least purged those trying to milk what was left of the property and encourage something to move it. . Now it takes generations for them to realize the loss. People make property valuable, not the other way around.
No one pays rent in Detroit. Most just live in vacant housing.
(I know this is an overstatement, but it is true in a lot of places. Anyone who has actually been there knows)
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tHEY KEEP THEMSELVES POOR AND IGNORANT.
