TKC EXCLUSIVE AND BREAKING NEWS!!! KANSAS CITY RESIDENTS CONFRONT SECRET TAX INCREASE BY WAY OF UPCOMING $800 MILLION GO BOND VOTE!!!
Once again Kansas City voters endure an election sales pitch under false pretenses.
Thankfully, our KICK-ASS TKC BLOG COMMUNITY has been blessed by brilliant readers who are are willing to confront $800 MILLION worth of general obligation bond deceptions put forward by City Hall and unquestioned by local media.
Accordingly . . .
KICK-ASS KANSAS CITY INSIDERS CRUNCH THE NUMBERS AND REVEAL CLANDESTINE EFFORTS TO RAISE TAXES WITH THE NEW $800 MILLION GO BOND PITCH!!!
The argument is explained thoughtfully with numbers to back it up and evidence so that voters aren't fooled into cutting their own financial throats because local newsies are too scared to call out campaign messaging.
Here's the word with respect to so many readers and residents hoping to clarify City Hall rhetoric . . .
Tax Increase Shell game.
I was at first, shocked. Was Sly lying? I found it nearly impossible to believe that our city would put out numbers that appear to be bald-face lies.
The math is pretty straight forward, but perhaps I’m wrong. For those that don’t want to do the math, I’ll cut to the chase.
The City is advertising that there will only be a tax increase of $6 to $12 depending on the value of your property. They use a $100,000 home and a $15,000 auto as their “$6” example.
The numbers I crunched say it’ll be closer to $180 a year for this property owner.
Which makes me thinks something stinks.
They list two more homes. $140,000 and $200,000 with cars attached to. Those numbers advertised by the city puts the tax increase at only $8 and $12 respectively. The math says it should be $235 and $370.
So is Sly lying? No. Not lying but not telling you the truth either.
I did all the math and then discovered their devious plans. What they intend to do is issue 40,000,000 a year for the next 20 years. Admittedly, this is a clever approach if you’re trying to deceive your community.
What they are NOT telling you is that, if they follow their 20-year plan, you get a TAX INCREASE every year. The first year they nearly double and by year 10, that homeowner they said was only going to raise taxes of $6 on your $100,000 home and $15,000 auto will be paying by my estimates $78.49.
The $6 increase is smoke and mirrors to get you to vote yes. You’ll never see that 6-bucks after year one.
Here’s the math.
##############
You decide . . .
Typical Sly bait and switch. He's not taking any questions on this either.
ReplyDeleteDo not forget that very little of the general obligation money has been specifically designated for a project other than the animal shelter. They can take it and go play blackjack at the casino if they wanted. Which is pretty much what they're doing with the new hotel anyway.
DeleteInfrastructure improvements = new office and more staff for the mayor.
DeleteUm this will be on top of this years new property tax assessments. Which no doubt will be another artificially inflated farce similar to the last reassessment period.
ReplyDeleteThey are trying to trick voters into believing their property tax bills will increase only by about ten or fourteen bucks this year if they vote for this deplorable scam.
ReplyDeleteWe are already getting slammed by the trolley real estate tax increases. Sales tax in River Market is almost 10% to pay for the free streetcar. No new taxes!!!
ReplyDeleteYou'z gonna git da new sidewalkz everyone dezires!
ReplyDeleteLMAO
911 Main - Commerce Tower
ReplyDelete2011 - $11,250,000
2015 - $6,700,000
We need the taxpayers who don't live downtown to pay for this shit!
1400 WALNUT - KANSAS CITY LIVE BLOCK 139 RETAIL LLC
ReplyDeleteCordish Company
2016 - $1000.00
Amount due - $30.22
918 E 5TH ST Soda Lofts
ReplyDelete2013 - $249,000.00
2016 - $186,772.00
Any other questions?
ReplyDeletePoint2homes.com says 225000 households in kcmo. Say 15% or anout 40k rent. 185000 taxable households.
ReplyDelete2.8 million ÷ 185000= $15.14
If the renters pay $2 auto
$2.72 milion ÷ 185000= $14.72
Last year 56 million ÷ 185000= 302.70
Less auto for 40k approx 1 million
$297.30
TKC really stepping up his game -- great posts by contributors like this one, and by TKC himself, no Glazer commercials, and still even more awesome babe pics!
ReplyDeletebest blog in the Midwest!
Here's some advice for your KICKASS TIPSTER - don't go into accounting. In fact he shouldn't be allowed to balance a checkbook.
ReplyDeleteThere's a gigantic flaw in your math and your "reasoning," as little as you're able to do, anyway.
This is what they mean by alternative facts, folks.
They are rough estimates. I know some apartment owners will pay portions im sure. But im listening for your explinations. By the way scored almost perfect score on act in math back in the day so kiss my ass
Deletegood for you but you can't spell worth a damn
DeleteThat all you got. What a worthless reply. This has no chance of passing. Maybe the dog vote if it is divided into three parts. Just like the city now you have no reply. Hide the facts take money in the front door and funnel it out the back. Hope the voters are smart enough to shoot this piece of crap down.
DeleteSpell check this. FU
DeleteThis is unbelievably GREAT reporting. Where is the KC Star? Where is channel 9, 4, 5, or 41 news? This is bullshit. WHY DO I HAVE TO GO TO TONY'S KC BLOG to find REAL NEWS?
ReplyDeleteThis f-ing ridiculous.
If they issue bonds over a 20 year period that means some of the tax increase will last 40 years since that is when the last issued bonds will be paid off. Voters should never give permission to issue bonds in the year 2037. They are essentially giving away the entire reason for having bond elections.
ReplyDeleteHey 11:30, what are the errors? Provide the corrections or shut up.
ReplyDeleteGlorioso attacks the numbers and facts when his arguments are proven to be lies. That has always been his method.
ReplyDeleteNot a penny more to the corruption machine in City Hall until the mayor and senior management are cleared out and our meddling former mayor (now Congressman) and his district staff (still enriching themselves out of city projects) are removed from office.
ReplyDeletegood info.
ReplyDeletevoting no.
Maybe the take it the streets ploy like the pussyhats did is due to get the newsies to take notice. Or, set up a Mizzou-styled hunger strike in a tent city. Hey, have a "tea party" that serves tea and cookies for donations to education funds, or some deserving aim.
ReplyDelete12:24: +1
ReplyDeleteWe have no journalism in KC. All traditional media outlets are politically compromised.
ReplyDeleteThanks to the poster for this reminder, and please keep repeating the truth, as city political leaders are counting on an uninformed public to vote against their best self-interest in this matter.
ReplyDeleteCitizens should RARELY ever voluntarily vote to increase their taxes, as the tax rate will NEVER go down in the future. And don't be fooled by language such as "no tax increase bond issue" whereby a new bond proposal is floated to immediately replace an expiring bond.
A YES vote for this $800M G.O. bond proposal is a YES vote allowing longstanding KCMO fiscal mismanagement to continue unchanged.
True. And good.
ReplyDeleteYou forgot to say Sly is a liar.
ReplyDeleteThe error lies in the fact that this is a subordinate-rated sector, and any plan to hedge credit-linked conduits is somewhat invalid. OTC liability structures in arbitrage-free markets? The chart doesn't insulate off-balance-sheet capital structures. In subprime market segments, never prorate sequential-pay debts.
ReplyDeleteThat's the flaw.
yeah I figured this was all total bullshit like usual. Thanks.
DeleteI can somewhat agree. Should be the city showing true numbers. Is power and light,or one light, two light,the condos on admiral and grand that are all either tax abatement for 20 yrs or subsidised with tax money paying.
DeleteWhat politician isnt. Show me an honest politician and i will show you a liar
ReplyDeleteWhen you amortize bonds, the value of said securites as a percentage of revenue drops a proportional amount. The city's policy of maturity matching will allow changes in market interest rates to have approximately
ReplyDeletethe same effect on both interest income and interest expense. An increase in rates will tend to increase both income and expense, and a decrease in rates will tend to decrease both income and expense. The changes in income and expense may not be equal because of different cash flow characteristics of the assets and liabilities. The asset-transformation function of an FI involves
investing short-term liabilities in long-term assets. Maturity matching clearly works against successful implementation of this process.
I mean do you need a fucking road map, or what?
Not so much a road map, but a compass. In Sly's case it's a pun... moral compass.
ReplyDeleteHow about put the least expensive initiative up for vote. Show us where every dollar goes being truly transparent ie who owns the cos. Doing the work. Build some trust. At this point i wouldnt give the city two nickels in good faith they could make a dime
ReplyDeleteFACT
ReplyDeleteAnother Real Question is ?????????
Where does this Corrupt Fraudulent lying KCMO Mayor Sly James thinks he actually going to live if all this should pass ??????
Maybe he should THINK about that for a moment ???
Think real Hard about it !
I remember another lying sack of shit who tried to pull the wool over his members eyes with lies & bullshit and well,,,,, it made the news !
He hasn't been seen since anywhere for over 40 + years !
for those that remember the days of
Fitzsimmons
Chucky O'Brian
Sam Giancana
Tony Accardo
Santo Trafficante
Carlos Marcello
Dominick Napolitano
Jimmy Hoffa !
I think Sly man has a slight problem with thinking. Some one needs to help him clear his thoughts. First get his attention. Then ask him a question and keep on asking iy until he decides not to lie to us.
ReplyDelete