Our Tax Money is a Hedge Fund

Private/Public Partnerships have given developers a new funding source, your money.  This new scam came to us over the past few years as part of the Obama spending blitzkrieg that bribed State Legislatures to open up your wallet without your permission.  In Georgia, laws were passed to create Regional Commissions to hand out bribes to cities and counties to implement UN Agenda 21.  HR 1216 and HR 277 advanced regionalism.  Other laws morphed into “Redevelopment Powers” that allowed cities and counties to hand out tax holidays and cash to developers.  All of this is allowed without voters being able to vote for Bond issues.

Tax subsidies allow developers to hedge their costs and build their unnecessary retail space and split.  The new space results in the deterioration of the “old space”.  Rather than maintaining these retail spaces, they choose to build new ones.  Free money allows developers to hedge their bets with your money.

Many of these developments fail, because they would not have stood up to the scrutiny of the free market.  New retail and rental space are commodities that depend on increasing demand.  Internet sales have reduced brick-and–mortar retail sales. 

Our economy is in a bubble of federal overspending. It needs to stop, so our economy can stabilize.  Our real unemployment is at a record 37% and demand is being driven by excessive immigration.  This excessive immigration is the cause of our high unemployment.  Manufacturing jobs have moved overseas. Wages are stagnant and inflation is eminent.

Federal bribes are intended to enlist cities and counties to distribute “stimulus” grants for parks, bike lanes, walking trails and retail space at a time when they should be fixing their roads, sewers, water treatment and bridges. We will be left with less demand supporting the new retail space plus lots of empty retail space ready to knock down.  All of this, at no risk to the developer.

In the “old days”, before 2009, free enterprise risked its own money and was careful to ensure that demand would support their investment.  Government overspending has ensured that demand will decrease, not increase.  Without federal grants, these “investments” would not be made. This is mal-investment and should be stopped.  Further increasing federal debt will result in debilitating inflation.

Norb Leahy, Dunwoody GA Tea Party Leader