Socialism wins again - Detroit goes Bankrupt!

[Adak]

After 50 years of socialist management, the golden goose has finally dropped dead, and Detroit - at one time our nations 4th largest city, has had to file for bankruptcy.

Hundreds of millions of dollars in debt to the unions, and with just a shell of the city left, Detroit has been judged by the states emergency manager (after they kicked out the Mayor and City Council for incompetence), to have no hope of paying off these debts.

When you raise taxes on businesses - they eventually go elsewhere.

When you raise taxes on individuals - they eventually go elsewhere.

When you don't fight crime in your city - both business and individuals, eventually go elsewhere.

When they leave, they don't come back.

Your city's tax base will take a serious fall in income, and if you keep it up, long enough, your city will be broke.

Next time, Detroit. Try a capitalist fiscal plan, not a socialist one.