5 ms·
It's a small rich city. If they get into trouble, they can do one time tax levies. Usually how they do things in the midwest.
by kelipso 2y ago
It's a small rich city. If they get into trouble, they can do one time tax levies. Usually how they do things in the midwest.
- bilbo0s 2y agoOnly they aren't rich. Places that are rich don't need the debt. Look up the average household income in Carmel, IN. Then compare it to, say, Darien, CT. Now consider, Darien's per capita debt load works out to about 2% of the average annual per capita income. Carmel's per capita debt load works out to roughly 25-30% of its average annual per capita income. Look, I have nothing against small places in the midwest. I'm from small town Wisconsin. So I have just as big an affinity for flyover country as anyone else. But few of the fiscal indicators are pointing in the right direction here, and there's nothing wrong with pointing that out.