Mayor Funky's blog recently posted a frightening stat: The growth in the amount of city tax revenue that pays for TIF and Super TIF programs has been 27.5 percent.
It's the kind of stat the Funky Bunch loves to tout but doesn't explain why his only substantial action as mayor so far has been the approval of yet another Super TIF for a soccer stadium with super low attendance.
He says he got a "better deal" but it's clear that KC needs to quit its shopping spree when it comes to subsidies and so far Mayor Funky has yet to fulfill his promise on that front.
"Economics is haunted by more fallacies than any other study known to man" - Henry Hazlitt
ReplyDeleteI doubt that TIFs had even been invented when he wrote this but no words could ever be more true than when describing the TIF scams.
39th and main is the next boohdoggle. Tear down the porn place and put up a parking lot. Kick out section eight med cases and turn it into 50 "nice" places. And we are paying for it.
ReplyDeleteaye
ReplyDeleteTIF*s are essentially subsidies.
subsidies have been around since
adam and eve.
since julius caesar subsidised
the building of aqueducts into Rome. or was that maximus?