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I'm confused. Flint lacks tax revenue due to having nothing of value to tax. How did the "plutocrats" drain wealth from Flint if Flint doesn't have any? Wikipe
by yummyfajitas 10y ago
I'm confused. Flint lacks tax revenue due to having nothing of value to tax. How did the "plutocrats" drain wealth from Flint if Flint doesn't have any?
Wikipedia suggests Flint has had a budget deficit for many years. That means wealth is flowing into Flint, not out.
https://en.wikipedia.org/wiki/Flint,_Michigan#First_financial_emergency:_2002.E2.80.932004 https://en.wikipedia.org/wiki/Flint,_Michigan#First_financia...
- TheOtherHobbes 10y agoNo, it just means the wealth flowed out of Flint without being taxed or invested locally. That's what oligopolies do. In a sane system a single large employer would have to contribute to building a self-sustaining independent ecosystem of businesses in an area, instead of being allowed to extract profit and then leave when there's more profit to be made elsewhere. Monocultures are an unworkable idea with toxic effects in economics just as much as they are in nature.
- yummyfajitas 10y agoSo your complaint is that GM did business in Flint, and then stopped? That's very far from taking wealth out of Flint. It's a lot more like putting a lot of wealth in, but then not putting more in.