2011

This is why funding state government with gambling revenue is a bad idea

One more reason why video lottery was a stupid idea to begin with;

For the first five months, the Sioux Falls area saw about a 15 percent decrease. But in June, when the new casino opened, the percentage dropped 22 percent to 26 percent.

Well, duh. It’s volatile just like sales taxes. When the economy is down, people spend less money (and rob more). I have often suggested that the state moves to an income tax structure and dumps video lottery and regressive sales taxes (on essentials). But we know who is in charge, don’t we, and that ain’t never gonna happen.

I like Cory’s twist on the concept.

Private industry in SF has plenty O’ money to spend on marketing plans to swindle the public

Kinda ironic, Huh? All kinds of private companies are throwing (pennies) towards a marketing plan to swindle the public into voting (and paying for) a new events center, yet not a single one of them is willing to put up REAL money to help pay for the facility;

The group campaigning to build an events center in Sioux Falls raised $10,700 in cash in its first month, according to campaign finance documents filed Tuesday with the city.

But when you count in-kind donations, the amount is larger for Build it Now. Local businesses donated an additional $42,500 in goods or services that aren’t paid for out of the campaign’s bank account.

Sanford Health led the way with $15,000 for in-kind donations, money that went to a website and consulting fees, according to the filing. Avera McKennan chipped in another $5,000 for consulting fees, and the Sioux Falls Area Chamber of Commerce added $10,500 to the effort, money that paid consulting fees and research.

This is typical in South Dakota and Sioux Falls. Throw pennies at marketing plans in hopes you will sucker the public into paying for a project that ONLY benefit these very businesses. I have yet to hear how a new events center will benefit me economically. All I see is my 2nd penny tax dollars being shifted from our FREE parks system and infrastructure to paying off debt for an entertainment facility that we really don’t need. Sioux Falls has seen amazing growth over the past decade, WITHOUT a new EC. I doubt the new facility will have any impact on growth.

If these businesses think the EC is such a crackerjack idea, why aren’t they putting up REAL money towards sponsoring the facility? I think we know the answer to that question, it is buried somewhere in the fine print of one of these marketing plans.

 

Sorry, but you have NO skin in the game

I watched Jared Smart mumble about how developers needed more money from the taxpayers for arterial streets because they have had ‘Skin in the Game’ (FF 51:00) (he was referring to the platting fees developers have been paying since the 2nd penny tax got raised to a full penny.)

Wanna know how much SKIN developers have put in the game compared to taxpayers (financial report August 2011) (screenshot)

He was crying because there was a 81% cut in arterial street construction. But, Jared failed to mention that their ‘Skin in the game’ is barely 10%. We were told that the developers would match the city funding when that 2nd penny was passed. Sorry but $200,000 towards $2 million isn’t MATCHING funds. I think a 4 year old kid could do the math. I wonder what kind of audacity a person has to have to come before the city council and ask for money when they have contributed virtually nothing. This makes me furious, because I was there the night the council and mayor Munson made us sit for two hours before we could give our testimony, and I had to endure Craig Lloyd’s bathroom jokes about Joe Six-Pack’s contribution. I knew this would end this way, but I never imagined that a developer would have the nerve to show up and ask for MORE money when they have given virtually nothing. Jared, you should be ashamed of yourself.