Tuesday, July 02, 2013

Dan Schroeder Guest Commentary: Not All of New Tax Will Go to Libraries and Pools

Which Utah legislator will be the first to break the bad news to their fat-cat campaign donors?
Tax increment diversions are currently costing the Weber County Library System more than half a million dollars per year.  If it weren’t for these diversions, the library could have funded most of the planned improvements without a tax rate increase.
For the Ogden School District, tax increment diversions reduce revenue by much more: a few million dollars per year. That would be enough to cover not only the maintenance of the two swimming pools, but also the salaries of the recently laid-off school librarians and the rest of the district’s recent budget shortfall.
Standard Examiner - Dan Schroeder Guest Commentary
Not all of new tax will go to libraries and pools
July 2, 2013

The TIF Financing Scam
In the wake of all the hoopla over the passage of  last week's Pool and Library bond measures, we're delighted to put the spotlight on this morning's top-notch and sobering Dan Schroeder guest commentary, which reveals the ugly underbelly of the tax increment financing economic development fad, which has become the darling of Utah crony-capitalist politicians over the course of the past decade or two:
We'll thus enthusiastically join Dr. Schroeder in calling upon the legislature for serious reform of this locally much-abused "welfare for the rich" economic development scam.  Yes, "it’s time for the state Legislature to severely curtail this misuse of tax revenue." 

This of course invokes The Question: Is there anyone amongst our "fiscally conservative" Utah legislative body however who might be willing to break the bad news to their fat-cat campaign donors that they're willing to stop "robbing Peter to pay Paul?"

Nope.  We don't think so either.

The floor's open for your comments, O Gentle Ones.

1 comment:

Disgusted said...

This is something that I have been railing about for 4 years to no avail. Unfortunately some of our city council members sit on the boards that allow this action to take place within our city and yet they continue to let these TIF deals take money away from our city's general fund or from other departments within the city. The diversion of funds (i.e. tax dollars we residents pay to the city and county) that we residents rely on to provide the services that we expect from our city. Instead these funds are diverted to business development projects that should be funded by the developers of the projects. Our city's BD department holds their our self preservation ahead of the needs of the city.
Thank you Dan for quantifying the dollar amount.

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