Much of the routine trade and investment between China and America is entirely appropriate and in America’s interest. But inserting the Chinese Communist Party into America’s pay-to-play system and its economic development strategy isn’t just crossing a line. It’s a leap into an abyss of stupidity.
Be wary of PTELL. When property values go up taxing bodies are limited to the 5% or 1/2 of inflation whichever is less but what is not fully disclosed is that when values go down they can exceed the 5% threshold. Any home or business that gets any tax incentive or reduction like an abatement everyone else’s tax rate goes up to compensate the loss of revenue. Under PTELL they can get what was LEVIED the year before not billed or collected and that’s why they can’t lose. Here in Rockford the tax rate a while back went up 8-11%… Read more »