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« Home on the Range in Kansas | Main | Preventing Wrongful Convictions »

February 02, 2010


James Kester

I'm interested in tax credit/school bonding
provisions that assign the same FASB
(Financial Accounting Standards Board)
values to similar civic assets. Like schools which are open for public use only part of the fiscal year.
It's like tolling an interstate highway to
pay for other fiscal needs, like mass transit in a commonwealth or state. And
then, allowing local users of the toll road
free use of the public asset.
Leveraging public assets to collect revenue is a common practice. But, the "public" asset becomes a selective revenue tool
that is no longer representing the interests
of everybody it was designed to serve.
A school which remains idle for "summer
vacation" serves no one except an ancient
practice called collective bargaining.

What if the same practice were applied to
a bridge that closed for "summer vacation".
Like ferries which don't run during winter.

Now these same assets become derivatives.
And we all know where those standards led us.

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