63.The stimulus plan?

April 19, 2009 § Leave a comment

High speed rail benefits?  Similarly with other aspects. I am not sure about the following, but it is worth considering.

Mr. Obama’s “recovery” plan based on infrastructure spending will make real estate fortunes for well-situated landlords along the new public transport routes, but there is no sign of cities sharing in this price gain by levying a windfall property tax. Their mayors would rather keep the cities broke than to tax real estate and finance. The aim is to re-inflate property markets to enable owners to pay the banks, not help the public sector break even. State and local pension plans will remain underfunded while more corporate pension plans go broke.

Michael Hudson – financial economist and historian.

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You are currently reading 63.The stimulus plan? at Reflections on GardenWorld Politics Douglass Carmichael.

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