Re:Thanks For Paying Taxes. Here's A Receipt.
by joezydeco on Thursday September 30, 2010 @08:07PM
(#1745396)
Funny, my local county government lists where all the taxes go. It's amusing (or enraging, I guess) to see we still pay for a Tuberculosis sanitarium.
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Re:Thanks For Paying Taxes. Here's A Receipt.
by brettmjohnson on Friday October 01, 2010 @12:02AM
(#1745947)
Why does this surprise you? Since deficit spending is generally disallowed for state and local governments, nearly all sizable projects are funded through bonds. Bonds are basically loans with a promise to pay back in the future, generally with tax revenues. So you are paying off that 99 year bond to build a TB sanatorium built in the 1930s.
We are doing the same thing today. My grandchildren will be paying for the school repair and high-speed rail bonds that passed a couple of years ago here in California. Their grandchildren will be paying off the anti-global-warming school air conditioning and hyper mag-lev rail bonds that will be put forth 25 years from now.