From The JT:
RACINE — A growing portion of taxes paid to the City of Racine is being spent to pay down debt, a newly released analysis shows.
Racine spent more than 30 percent of the taxes it collected in 2016 on its debt, according to the study titled “City of Racine’s Fiscal Condition: Living Within Its Means.” The analysis was released Wednesday by the Wisconsin Policy Forum. It analyzes the city’s financial status and strategies to determine how healthy Racine’s future looks.
From City of Racine 2018 Budget:
As of 2018, under Mayor Cory Mason – debt service is now 32% of the Budget!
And Cory Mason is from NEW YORK CITY!
What more needs to be said – if you are dumb enough to remain in Racine, Racine County, or perhaps even The State of WI – then just accept that ownership of real estate, personal or private property, and private Businesses is a Liability and a Tax burden! Ownership is NOTHING – CONTROL is everything! Wisconsin’s Big Government is coming to take your wealth and property away!
From Eminent Domain, TIF’s & TID;s, Blight, Property Assessments, Non-Profits, Tax Rates, Borrowing, Spending, and Debt Service (which conveniently hides the entire collapse of SE WI) – SE WI is…. TOAST! As the number of viable taxpayers continues to shrink while tax rates sky rocket and the existing infrastructure and services crumble.
Economics reporter John Schmid talks about the rise and fall of Racine and how planners in the impoverished Wisconsin city aim for a turnaround that eluded it in the past.See the video by clicking on the link below:
From the Journal Sentinel:
RACINE – If it fulfills its pledges, Foxconn Technology Group is destined to shatter job-creation records. Its flat-screen manufacturing campus in southeastern Wisconsin could eclipse Boeing’s footprint in Seattle, Tesla’s in Nevada and some of the biggest factories in China. Fully built out, it would be three times the size of the Pentagon, the world’s largest office building.
And yet, despite its multibillion-dollar taxpayer subsidy, Foxconn’s jobs boom might ripple right past Wisconsin’s fifth-largest city, five miles east on Highway 11.
Once a titan of manufacturing, Racine’s identity has been largely erased in the digital age. Its industrial heyday now an echo, the city has been impervious to decades of jobs programs, wars on poverty, upswings in the national economy and the consistent philanthropy of local industrial champion S.C. Johnson & Son.
The lakefront city needs to urgently overhaul its job training and social agencies to reverse generations of poverty and dysfunction, and to accomplish the urban turnaround that has eluded Racine in the past, according to Racine social agencies, businesses and civic leaders.
The clock is ticking. Foxconn could prove to be a one-time window of opportunity, with hiring in two years — even sooner for the construction work to build the facilities.
“If we continue to do business as we have, we know we will fail,” said Kerry Milkie, a veteran in the Racine County Human Services Department.
OH YEAH! Just wait for those future taxpayer subsidized, politically promised jobs of 13,000 Foxconn Employees making at least $53,000 each to materialize, which, according to the criminal Politicians who are actively looting the remaining Residents of SE WI daily, will somehow *MAGICALLY* continue to fund the bankrupt City of Racine, Racine County, along with the rogue and criminal State of WI.
Body Counts In the HOUSE! Better believe it Racine!
For those who seek a kindlier and gentler answer to the dilemma of SE WI: