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>Nobody forces the city to participate or offer incentives. The fact that cities need jobs and an inflow of money in order to function means that they're force

>Nobody forces the city to participate or offer incentives. The fact that cities need jobs and an inflow of money in order to function means that they're forced. It's like saying that nobody forces you to take a job coz the park bench is always an option.

ryanianian 9y ago
It's effectively no different than any other part of the US economy. If I'm happy living under the bench, I don't need a job. I decide what I want, I work and charge for it, and I can get what I want as a result. A city also has property taxes which make up a large portion of my city's budget. I pay ungodly sums in property taxes for a not-that-expensive condo. The city gets away with this because the location is desirable and we have great public-transit. Because of the property tax revenue, the city does give some companies a tax-break. But also because of the property tax, citizens keep a close eye on things, so most tax-breaks around here end up looking like forced-improvements or other public-goods. Each city is different and will find the best way to fund itself. Saying they can't pay less for something they want forces the funding problem elsewhere.
- crdoconnor 9y ago
  My city has ridiculously low property taxes. I still pay the same amount I would because supply and demand determines prices, it's just that money goes to rentier landlords or to an investment portfolio's CDO via a mortgage instead of to schools and public services. The reason your condo was relatively cheap is because your city has high property taxes.
  - ryanianian 9y ago
    Yup - each city is free to change their tax structure (for residents and businesses) in a way that makes sense for them. Your city may decide it wants to drive out rent-seekers by hugely taxing rental income or raising property taxes on rentals. This would effectively be a business tax. And the town next-door could decide it wants condo real-estate development to attract young urbanites, so it might notice your town's changes and offer tax-free rental income for N years. This allows each city to benefit their tax-base/residents the best.
    - crdoconnor 9y ago
      I'm not exactly sure why cities having the 'freedom' to get played off against one another or to let rentiers suck wealth out of the system is such a good thing. I'd rather politicians didn't have the "freedom" to knuckle under pressure from plutocratic forces and just told large companies and rich individuals to go fuck themselves when they come around demanding handouts.

ryanianian 9y ago

It's effectively no different than any other part of the US economy. If I'm happy living under the bench, I don't need a job. I decide what I want, I work and charge for it, and I can get what I want as a result. A city also has property taxes which make up a large portion of my city's budget. I pay ungodly sums in property taxes for a not-that-expensive condo. The city gets away with this because the location is desirable and we have great public-transit. Because of the property tax revenue, the city does give some companies a tax-break. But also because of the property tax, citizens keep a close eye on things, so most tax-breaks around here end up looking like forced-improvements or other public-goods. Each city is different and will find the best way to fund itself. Saying they can't pay less for something they want forces the funding problem elsewhere.

crdoconnor 9y ago
My city has ridiculously low property taxes. I still pay the same amount I would because supply and demand determines prices, it's just that money goes to rentier landlords or to an investment portfolio's CDO via a mortgage instead of to schools and public services. The reason your condo was relatively cheap is because your city has high property taxes.
- ryanianian 9y ago
  Yup - each city is free to change their tax structure (for residents and businesses) in a way that makes sense for them. Your city may decide it wants to drive out rent-seekers by hugely taxing rental income or raising property taxes on rentals. This would effectively be a business tax. And the town next-door could decide it wants condo real-estate development to attract young urbanites, so it might notice your town's changes and offer tax-free rental income for N years. This allows each city to benefit their tax-base/residents the best.
  - crdoconnor 9y ago
    I'm not exactly sure why cities having the 'freedom' to get played off against one another or to let rentiers suck wealth out of the system is such a good thing. I'd rather politicians didn't have the "freedom" to knuckle under pressure from plutocratic forces and just told large companies and rich individuals to go fuck themselves when they come around demanding handouts.