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To: orkrious who wrote (184832)7/30/2002 9:24:04 PM
From: Win-Lose-Draw  Respond to of 436258
 
you didn't think those roads were going to *stay* paved, did you?



To: orkrious who wrote (184832)7/30/2002 9:24:49 PM
From: reaper  Read Replies (1) | Respond to of 436258
 
<<How are the municipalities going to make their budgets when the house values get cut in half? >>

simple; they won't re-assess. so you'll be paying taxes on a place the city says is worth $500k that you couldn't sell for half that.

i think i read somewhere that raising taxes was good for the economy; leads to increased government spending or something, which is additive to GDP <g>

Cheers



To: orkrious who wrote (184832)7/30/2002 9:50:22 PM
From: patron_anejo_por_favor  Respond to of 436258
 
<<How are the municipalities going to make their budgets when the house values get cut in half?>>

Their bondholders won't care...uncle MBI will make good on ALLL the defaults!<VBG>