Insidious Practice Alert #65, How The Bottom 1% Can Build Their Own Community.

It was a brilliant idea, this Tax Increment Financing. Find a blighted area that is not contributing to the property tax base, build a 73 million dollar multi-use complex of apartments and businesses. Exempt the builder from those nagging property taxes that are produced by new developments, thus, blight, crime, and stench are replaced by shiny buildings. We have such a development not far from our town. You may know where it is. It is located in the richest county in our state. It was built six blocks from the richest town in our state. Blight never was here in my town.

I suggest a different approach. 1. We choose a blighted area. You know it’s blighted because there would be no house you would live in, in that area. There would be a helicopter overhead. You would wonder why there were so many police cars. 2. Like Tax Increment Financing, we would eliminate property taxes. Period. Forever. That would encourage people to own something there. 3. We eliminate sales taxes on all purchases in the area. That would mean gas, food and clothing would be cheaper there. That would draw business to the area. 4. We eliminate all income taxes. That would make it a popular place to live.

Do you see the loopholes in this plan?

No problem.

There are rules: If you take advantage of any tax advantage, you must live there.  And you must work there.

Why wouldn’t this work?

  • Dawn Downey

    I love this plan! I’d vote for you for mayor, except for the pesky loophole that requires me to live in your town in order to vote for you.

    • Dane Zeller

      Oh, Dawn. Pesky loopholes? I’ve read your book. Where you live is a state of mind. Case closed.

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