8/5/10
Here one resident calls for common sense to prevail.My friends, in keeping with their long standing tradition of giving away Taxpayer’s funds (or using them illegally), your neighbors on the Modesto city council gave away $150,000 of your money last night. Yes, just like buying votes by spreading you money around to certain downtown business owners, they chose another business to prop up with your hard earned, after tax money.
Ken Carlson’s story in today’s BEE, page B1, tells us that a struggling business received $150,000 to hire four new employees. The business owner is quoted as saying that this gift of your tax money “...works out great for both sides.” Huummm. I wonder how it works for you, my friends.
Oh, did I mention that at least 50% of your money must go to “low to moderate income categories”? We certainly would not want to give your money to a HIGH income category, right? LOW incomes are much more preferred by your friendly city council.
You really should read the article to see the totally sophisticated comments attributed to certain council men.
Brad Hawn said, “I wish we had a lot more money to put in. It really helps a business to get back on its feet.” Please remember that Hawn is running for Mayor. I guess he would be much happier if he could get his hands on LOTS more of your taxes to buy more votes. Joe Muratore correctly was “skeptical”.
He said that if the company goes bankrupt, that money would be lost. Unfortunately, his convictions were not strong enough to prevent him from voting for the giveaway. (When are we going to see any fiscal conservative on our council? When are we going to find real leadership?)
Oh, one last thing. The business is not required to pay back this “loan” during the first year after the loan is made. It is supposed to pay principal and interest over 5 years. I wonder, does interest accrue during the non-repaying first year? I bet not. I used to think that there was no such thing as FREE money. I guess I am pretty dumb.
You know, this council squeals that it has no money. Yet, it squanders millions of dollars on dozens of consultants because it is too dumb to the job.
But it can pay the salaries of a private business. Apparently, it is not that broke. Just keep working and paying taxes. If you have a job, that is.
Thanks for reading, Dave
To read Ken Carlson's article
