Thursday, March 10, 2005
 
Bureaucrat Explains Economic Theory

Martin Braeske, planning supervisor for the St. Louis City school district, explains how finance works as he discusses the sale of schoolhouses:
    The use of historic tax credits to restore the properties has been a factor in the bulk of the sales, Braeske said. "With schools like Emerson, developers need the credits to make the deal profitable, and they have to preserve the historic elements of the schools to qualify for the credits, so it's a win all around," he said.
That is, to comply with the government regulations, "private" developers need tax breaks from the government to buy the buildings for "free enterprise" reasons. Meanwhile, everyone else continues to pay taxes unabated because they're not businesspeople or bureaucrats. A winner for all the people who matter.


- posted by Brian J. @ 4:08 PM
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