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That's Why It's 'Hockeytown'
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Detroit is broke. It's broker than broke. It has no money for taxes or police or anything. Yet they're spending millions on a new arena for the Red Wings, owned by a very rich family. They're taking money from school taxes to pay for part of it. Meanwhile, they're laying off teachers. 44% of the $650 million being plowed into the arena and neighborhood will come from "public economic development funds requiring no new taxes," which is another way of saying "they'll take money from other programs, then raise taxes to replace the funds in those other accounts." The Joe is, indeed, needing replacement, but the city's going to end up moving money it needs for other things to pay for it, and that's a huge gamble. (Detroit Free Press)
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