News-Record.com

The original idea of having bond money made available by public vote in order to cover NEEDED major cash outlays wasn't in itself a bad thing.

Of course, politics being what they are, it has become a method of pork barrel pandering and special interest payback.

Not all, but many bond funded projects are the equivalent of spending your salary on beer and parties then going to your employer and pleading hardship because you can't make the house payment.

Ignore the essentials on a daily basis, don't set aside for the future, and then - voila - the more essential the need the more chance the bond has of being passed.

Convoluted logic, contorted results.

Ya' gotta' love it.

Bonds are used to finance projects that will be used and enjoyed by generations. For example, very few communities have the money to throw up schools or build roads today with money just sitting in the treasury. They finance over 20 year periods, projects that will last for a long time and spread the cost so that today's folks do not shoulder all of the burden. It is a great way for communities to cover future needs today. McCollough vs. Maryland, or the "Doctrine of Mutual Reciprocity" gave the bonds tax exempt status, making them much more attractive to buy, than other similar debt instruments. For example, one may purchase $10,000 worth of Guilford County bonds and receive interest that is 100% tax free. Why? Because North Carolina does not tax the feds for having Post Offices or Fort Bragg, etc, the feds in turn do not tax North Carolina's debt used to build essential services.
Municipal Finance is a great tool for local governments, but too many ignorant idealogues have muddied the waters by portraying it as nothing but a tax raiser, which is NOT true. Be glad that we have a tax base and an economy that is growing and is strong.

What we do need, is a way to secure bonds without ad valorem taxes (property tax) being the sole security.

Interesting that the same folks who don't like to burden future generations with federal debt don't mind doing so at the local level.

The economy is "growing and is strong". Way to go President Bush!

Nitpicker,
Steady housing prices and a relatively stable workforce owes nothing to George W. Bush. Those things have occurred in spite of our bungling leader. Ad valorem taxes support most local projects and contrary to your myopic view, we are not "saddling" any future generations with debt. In fact, with net interest costs to the city and county, we are giving future taxpayers the bargain of the century. With net interest costs of between 3% and 5% our local governments have been rather far sighted in using this tool.
You are confusing the excessive borrowing by the federal government at a clip that exceeds your wildest imagination. Here is a tool you can use to see how the war is costing YOU a fortune.
Enjoy!

http://nationalpriorities.org/index.php?option=com_wrapper&Itemid=182

people who rent houses and apartments pay property taxes too...its added into the rent which goes up everytime the property tax does. Oden needs a small vacation so he can think straight

MisdirectedDeacon --

In light of your oft-repeated definition of insanity - doing the same thing again and again and expecting different results - I have to ask - how many times are you going to post the link to the same web site? Do you believe that an opinion-based site is going to change minds? (I notice it has been a few days since you helped out Vernon Robinson's fund raising efforts by linking to his site.)

6string,

I rented for about 14 years. In those years, I lived in 2 different apartments and one house. I never received a rent increase when the property taxes increased. In fact, I never received a rent increase at all at any of the places I lived.

When a homeowner or property owner's taxes go up, the increase is IMMEDIATE and there is no way to get around it. A landlord may or may not increase someone's rent. Often, a landlord already owns the home and is profiting at a nice enough level that they don't need to raise rent. Now, the landlord WHO ALSO IS THE PROPERTY OWNER pays property taxes and gets to vote. So why should the tenant and the landlord get to vote for the same property?

Folks who live in dorms are outside this argument.

NicDanger,
If you look at the website you will see it is NOT the same every time you look at it. More of YOUR money is being spent every minute. Sorry you didn't realize that.
Have a blessed day!

Mr. Oden, I haven't found a state that doesn't raise taxes for as long as you own the property. I do know of states that do not raise you taxes after you reach 65. There are states which give you a tax break if you are a veteran, or even a larger break if you are a disabled veteran. There are states who give breaks for those who are disabled as well. Unfortunately NC does not make the list on any of these tax break states. If you find a state that keeps the taxes level for as long as you own the property please let the rest of us know. You could possibly see a mass exodous from the State of Taxus.

And good move Ditto ,your first post here was the first intelligent post I have seen from you in ages.

Golly Gee, Mr. Produce! Thank you.

You see DD when you act like you got some dang brains you get treated nice.

Mr. Produce:

Where is the proof you were offering about my alleged website or blog? Will you please put up or shut up.

"Put up or shut up". My, my, what an ominous threat. Your worried ditto dummy? If not, what has got your draws in such a knot?
When they are ready ditto, when they are ready and not until.
Until then enjoy the rest of your weekend.

Well, guess that means you DO NOT have the proof you swaggered around saying you had. Maybe you can help OJ catch the "real" killers!