Tax Reduction Program for Downtown Sioux Falls residential property

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Turns out there is a program, but only 3 properties have taken advantage of it since 2007, and you have to invest $30,000 in the property before getting the program.

At the informational meeting today where they explained the program, most of it goes towards business, and not a surprise the part they want to expand. I’m all for it for local businesses but the program needs to be expanded to residential and the $30,000 expenditure should be drastically reduced to $2,500 or more.

But that of course isn’t the plan, more socialism to big developers and banksters and crumbs for the rest of us.

Sioux Falls economy contracted -.07% in 2020

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Sioux Falls citizen and economics enthusiast Mark Weber (who I believe actually has an economics degree) has been addressing the Sioux Falls City Council for several years at public input showing the other side of the Sioux Falls economy. Since the city is usually a month or two behind on releasing the monthly financials (we haven’t had a report since November 2020) Mark draws his data from the SD Department of Revenue. Thank you for your advocacy Mark. Here are his conclusions of 2020;

Why Did we Give Sioux Falls School District Employees an $800 dollar bonus?

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Before everyone calls me a Scrooge, I will say I agree with School Board president Mickelson’s sentiments;

“. . . yet give as much as we can to our staff while they are going through this hard and very difficult time,” Cynthia Mickelson said.

I think if public servants like teachers go the extra mile they deserve a little something more.

But here are my issues with this;

• This is not the private (for profit) sector. The school district is funded by taxpayers. Believe it or not, most, if not all of my friends and family have worked straight thru this pandemic including myself. Many of them have never got a ‘bonus’ including myself for showing up. But the very workers we subsidize with our taxes are handed bonuses for simply showing up and doing their job – just like the rest of us have. I get it, it’s not easy, there are many days I just want to say, ‘Screw it’ this isn’t worth the risk, but I also know we will get thru this, so I soldier on.

• Instead of a bonus, maybe better sick leave and raises would be more appropriate. As I understand it, district employees have a very good sick leave policy.

• Unlike the private sector, school district employees get fantastic benefits, healthcare and PENSIONS! PENSIONS! I know, something that has almost disappeared in the private sector.

• Many school district employees get the entire summer off. Basically they receive 12 months of pay for 9 months of work. I get it, they may work many more hours during that 9 months, but how many of you in the private sector would love to work a few extra hours a week to get 3 months off in the summer? I think I know the answer to that question. Let’s talk about a ‘bonus’!

While I think it is nice gesture to give this bonus, remember, this comes from you and me, not the school board. It is also fair to point out that the more money we give towards wages is less money we are spending on learning materials and capital expenses for EDUCATING STUDENTS!

I think if this community was flush with money, this would be a blip on the radar screen. But while a lot of us in the private sector are struggling, we ask when are we getting our $800 property tax cut?

Why couldn’t this bonus come from the millions of dollars of Federal Corona virus monies instead of handed over to businesses that may or may not trickle it down to their workers?

This bonus was foolish and fiscally irresponsible.

I think a better plan would have been giving the staff that worked through this pandemic full-time a better raise instead of a blanket bonus.

REWARD THE ONES THAT DESERVE IT WITH PERMANENT APPRECIATION IN THEIR PAYCHECKS THROUGHOUT THE YEAR!

I often shake my head when elected officials pat themselves on the back when they are giving our money away. To all the staff that got this bonus, your’e welcome, to the elected officials who got a warm fuzzy feeling for giving my taxes away, you are also welcome.

If SD would just tap into these trusts, we would never have to pay taxes again

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Another ‘flattering’ story of how we allow Billionaires to take advantage of our laws in South Dakota;

South Dakota is fast becoming a mini-Switzerland for the world’s rich. Analysts and local politicians estimate that $250 billion to $900 billion is now stashed in South Dakota trusts by the likes of Chinese billionaires looking to keep their fortunes out of reach of the government, Europeans looking to avoid taxes and Americans looking to shield wealth from spouses.

I have argued for a long time that if we only put an annual .01% tax on these trusts the state could take in $90 million in tax revenue.

Give the residents of South Dakota the $1.6 billion

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Governor Noem says she doesn’t want to spend the Federal Covid money on Covid expenses, she instead wants it to offset the sales tax revenue. I think a better use of the money would be to send it to South Dakotans. If you gave it to every single resident of the state, we would each get around $1,800. If you just sent it to adults, it would be even higher. On top of that, if we turned around and bought stuff in the state with it, it would give the state (4 pennies) around $64 million in tax revenue.

What I am afraid is that Noem is going to end up pissing this money down her leg with massive handouts to corporations. She says it is for paying teachers. Hogwash. I think the best way to stimulate the economy in SD is to give us the money and we will decide how to spend it. But we know she would never do something like that, because that would mean she has compassion and common sense.

Many people have argued that we shouldn’t take this ‘handout’. Last I checked, we all pay Federal income taxes, it is ‘OUR’ money we are getting.