Page 28 of 60 FirstFirst ... 18262728293038 ... LastLast
Results 271 to 280 of 593

Thread: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

  1. #271
    Curmudgeon


    LowDown's Avatar
    Join Date
    Jul 2012
    Location
    Houston
    Last Seen
    Yesterday @ 05:39 PM
    Gender
    Lean
    Libertarian
    Posts
    11,570
    Blog Entries
    11

    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by haymarket View Post
    That has not yet been determined.

    And is it acceptable and right to you that bondholders would get paid before pensioners?
    If liberals want to be able to borrow money for municipal governments ever again they had better respect the rights of bondholders.

    "The urge to save humanity is almost always a false front for the urge to rule." --HL Mencken

  2. #272
    Sage

    Join Date
    Sep 2010
    Last Seen
    Yesterday @ 10:33 PM
    Lean
    Undisclosed
    Posts
    90,006

    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by LowDown View Post
    They have the highest taxes around. What kind of moron calls that "starve the beast"?
    Perhaps a 'moron' who looks at more than just what is on the surface? I have helped many Detroit constituents with their taxes. What we find out is two things: 1) the rate is rather high for property tax compared to the surrounding suburbs and tri-county communities. 2) most homes in Detroit are assessed at very low values going back many years and the actual dollar and cents tax produced for the city is often rather a small figure compared to the surrounding suburbs and tri-county communities.

    http://www.detroitnews.com/article/2...RO01/302210398

    Detroit ranked first among the 50 largest cities in taxes and last among property values in a 2011 study by the Lincoln Institute of Land Policy in Cambridge, Mass. Detroit taxes on a $150,000 house were $4,885, twice the national average of $1,983. The city's average house price, $16,800, was nearly 10 times lower than the next lowest, Mesa, Ariz.


    For example, Detroit went through a thirty year period from the late Sixties through the early 2000's where property was almost worthless and houses could be bought very very cheap compared to the suburbs. And when home values dropped, many people appealed their tax assessments and won since it was not hard to prove a low value based on current sales - which is the standard in Michigan. As a result, many people lived in decent three bedroom homes that were listed on the books as having a taxable value of under $20,000.00. Then the housing took off and Detroit houses doubled in value - some tripled in value. I sold a home in decent working class neighborhood in the early 80's for $26K. Thirty years later it sold for just over $100K. Then the bubble burst and the housing market crashed and Detroit has not yet recovered. I personally know people who bought homes seven or eight years ago at 100K only to see it worth maybe 15K today.

    http://articles.chicagotribune.com/2...atrick-outlook

    DETROIT — It may be tough to get financing for a new car these days, but in Detroit you can buy a house with a credit card.

    The median price of a home sold in Detroit in December was $7,500, according to Realcomp, a listing service.

    Not $75,000. Remove a zero -- it's seven thousand five hundred dollars, substantially less than the lowest-price car on the new-car market.

    http://xfinity.comcast.net/slideshow...roit-michigan/

    https://www.detroitmi.gov/CityCounci...Explained.aspx

    Michigan has laws which limit how much the property tax assessment can go up in any given year so the City never really made up those tax values. And even the ones which resold for higher values have seen appeals of the higher values over the last few years and the people are winning much lower assessments.

    http://www.legislature.mi.gov/docume...06-of-1893.pdf

    http://www.mml.org/resources/publica...e_override.pdf
    Last edited by haymarket; 07-21-13 at 07:31 PM.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

  3. #273
    Sage
    rabbitcaebannog's Avatar
    Join Date
    Jun 2013
    Location
    Massachusetts
    Last Seen
    12-09-17 @ 08:35 PM
    Gender
    Lean
    Other
    Posts
    10,918

    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by mac View Post
    That's not what I read, can you show me a link to the source of your information?
    Sure:
    Representatives of the association and police officers will meet Friday morning to discuss the situation, McNamara said. They’re working with other Detroit employees to form a coalition to address the city’s financial crisis.

    “From the beginning, we have attempted to participate in discussions and offer a restructuring plan,” McNamara said. “It is a shame that now we will have to be in front of a bankruptcy judge when all along we have been expecting to have meaningful meetings with emergency manager Kevyn Orr. These meetings never occurred.” Detroit union leaders call bankruptcy filing premature, say they were trying to negotiate | Detroit Free Press | freep.com

  4. #274
    Sage
    AliHajiSheik's Avatar
    Join Date
    Aug 2012
    Last Seen
    Yesterday @ 11:01 PM
    Gender
    Lean
    Undisclosed
    Posts
    6,386

    Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL

    They need to get innovative, perhaps even de-incorporating the city and revert governance to the county.

    Perhaps they could reduce the pensions of those who no longer live in Michigan.
    People in Dubai don't like the Flintstones but people in Abu Dhabi do

  5. #275
    Sage

    Join Date
    Feb 2013
    Last Seen
    12-04-17 @ 09:36 AM
    Gender
    Lean
    Libertarian
    Posts
    12,361

    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by justabubba View Post
    my FACTS trump your weak ass speculation

    the fact is red states require a larger federal subsidy than do blue states
    Because there are many more of them? Why should the federal government subsidize states and cities. Those are taxing entities in themselves.

  6. #276
    Banned
    Join Date
    Jan 2010
    Location
    Canada, Costa Rica
    Last Seen
    05-16-16 @ 09:45 AM
    Gender
    Lean
    Independent
    Posts
    31,645

    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by haymarket View Post
    Yeah - one never knows when British King George will rise from the grave and tax tea again causing Yankee Doodle to have to pawn his tri-cornered hat.
    He didn't tax as much as the present government does, and the people were more free as well.

  7. #277
    long standing member
    justabubba's Avatar
    Join Date
    Dec 2005
    Last Seen
    Today @ 03:23 AM
    Gender
    Lean
    Independent
    Posts
    36,156

    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by Fletch View Post
    Wow. What crawled up your ass? You made an unfounded assumption and don't like being challenged, I guess. I simply offered another possible explanation and you go berserk. I suspect that if you look at average annual income in Mississippi and compare that to California, you will find a big difference. That difference will be reflected in tax revenue. If the average Mississippian earns 30,000 and the average Californian 50,000, tax revenues from Mississippi will be lower per person. So it stands to reason that all things being equal, Mississippi will get more back per taxpayer. Now, try to address that without going ballistic. If you can.
    and again, you offer nothing to show us why red republican states require higher federal subsidy than blue states, if the republicans are to be found better fiscal managers
    you won't because you can't
    the only thing you can do is attempt to deflect
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

  8. #278
    Sage
    mac's Avatar
    Join Date
    Jun 2010
    Location
    DC Metro
    Last Seen
    11-13-16 @ 12:58 PM
    Gender
    Lean
    Moderate
    Posts
    22,499

    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by justabubba View Post
    and again, you offer nothing to show us why red republican states require higher federal subsidy than blue states, if the republicans are to be found better fiscal managers
    you won't because you can't
    the only thing you can do is attempt to deflect
    There hasn't been republican leadership in Detroit since the early 60s...you can't deflect that.
    ”People willing to trade their freedom for temporary security deserve neither and will lose both.” --- Ben Franklin

    Quote Originally Posted by The German View Post
    Sterotypes are mostly based on truths.

  9. #279
    Sage

    Join Date
    Sep 2010
    Last Seen
    Yesterday @ 10:33 PM
    Lean
    Undisclosed
    Posts
    90,006

    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by mac View Post
    There hasn't been republican leadership in Detroit since the early 60s...you can't deflect that.
    Detroit began its slide under two consecutive Republican mayors from 1950 through 1961. During that time, under Cobo and Mariani, Detroit lost 10% of its population. That was the beginning of the end of a trend that is still in effect today.

    But to blame this on a party is silly as no mayor is responsible for the two huge factors that killed Detroit:

    1 - economic desertion of the city causing it to be abandoned by business and the middle class
    2 - deeply ingrained racial problems

    It was those two things which have taken Detroit from 1.8 million down to just over 700,000. And that is not the fault of a Republican or Democratic mayor.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

  10. #280
    Sage

    Join Date
    Oct 2007
    Location
    New York
    Last Seen
    12-13-17 @ 12:40 PM
    Gender
    Lean
    Centrist
    Posts
    11,691

    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by haymarket View Post
    Detroit began its slide under two consecutive Republican mayors from 1950 through 1961. During that time, under Cobo and Mariani, Detroit lost 10% of its population. That was the beginning of the end of a trend that is still in effect today.

    But to blame this on a party is silly as no mayor is responsible for the two huge factors that killed Detroit:

    1 - economic desertion of the city causing it to be abandoned by business and the middle class
    2 - deeply ingrained racial problems

    It was those two things which have taken Detroit from 1.8 million down to just over 700,000. And that is not the fault of a Republican or Democratic mayor.
    I agree with you that partisan dynamics (separate from the issue of mismanagement/dysfunctional governance) played an insignificant role in Detroit's fiscal crisis. Over the decades, Detroit's city governments adopted policies (including, but not limited to, benefits) that became increasingly incompatible with the structural realities Detroit was facing. As the population underwent a dramatic and chronic decline, the city became less and less able to function effectively and its commitments grew heavier. Political dysfunction and mismanagement amplified those problems, but the structural changes created the problems.

Page 28 of 60 FirstFirst ... 18262728293038 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •