Tax GiveawaysPosted: June 19, 2011
“In the age of income-and corporate-tax loopholes, the property tax remains the only tax many rich people pay-even though they have already substantially crippled it by convincing ordinary folks it’s a tax on the poor and middle class.” Polly Cleveland, Common Sense Magazine
Locally politicians have tried to convince us that giving property tax breaks to rich developers will lead us to prosperity.
After 50 years of giving over $200 million to developers in Binghamton, plus a greater amount in tax breaks, Binghamton is now ranked as the 5th most economically distressed city in the US. Where we would be without all of these giveaways to the rich developers?