Someone made a keyboard error and a rather mundane house was valued in a small town at $400 million. City planners anticipated more $8 million more in taxes. So naturally, they spent it. Why not?
Is this not how government works. Turns out the house is worth $110,000, so actual taxes to be paid, a few grand. Nonetheless, everyone on the govt side spends the money before it is realized, with no one checking where the "new money" was coming from. Party on, Garth. Take as much as you can get, regardless of the source, and spend like crazy! This is why our govts are in trouble.
Sunday, October 10, 2010
Mistake Causes Spending Parties
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