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I know, it's a shame for Detroit that it isn't "Too Big to Fail."
by fnordfnordfnord 13y ago
I know, it's a shame for Detroit that it isn't "Too Big to Fail."
- tptacek 13y agoIs there some constructive alternative you have? In your dream world, how would Michigan have handled its Detroit problem?
- mhuffman 13y agoI do. Raise property taxes and sales taxes until you can pay your bills. The solution is actually simple. It is impossible for elected officials to do and keep their job, but simple.
- tcoppi 13y agoThat might not actually work, seeing as how Detroit already has a population problem and higher taxes will probably force even more of them out, leading to flat or lower overall revenue.
- fr0sty 13y agoWouldn't work in the least. Property tax delinquency in Detroit is already > 50% (http://www.detroitnews.com/article/20130221/METRO01/302210375 http://www.detroitnews.com/article/20130221/METRO01/30221037...) You can't squeeze blood from a stone.
- fnordfnordfnord 13y agoIn dream-world, we'd never have problems like this! A constructive alternative to Detroit's problem? They should have declared bankruptcy a long time ago, before levering up their debt with bond schemes.
- zevyoura 13y agoI'm not sure it counts as a constructive alternative if it requires time travel.