After Detroit will Taxpayers be on the Hook again for a Flint “Bailout”

Michigan governor Rick Snyder said in January that he believed there were roughly 235 cities and towns in his state that were financially and functionally bankrupt. One of those towns is Flint, Michigan.

In the last three years, Flint’s finances have collapsed to the point that the city has had to lay off two-thirds of its police force.
http://www.businessinsider.com/what-happens-to-a-city-when-the-money-runs-out-2011-4

FLINT, Mich. (AP) — State officials pledged $2 million Tuesday for Flint’s troubled water system. http://www.elkharttruth.com/news/michigan/2015/02/04/State-plans-to-discuss-resources-to-help-Flint-improve-water.html Flint Michigan

Flint, Michigan is now plagued by Violations of the Safe Drinking Water Act only months after the city severed its water supply from the Detroit Water and Sewerage Department (DWSD).

This article is from the World Socialist Web Site Published by the International Committee of the Fourth International (ICFI)
https://www.wsws.org/en/articles/2015/01/12/flin-j12.html

“During the course of the week or early next week we hopefully will be coming out with more taxpayer funded steps,” some of which are already under way, and others to be implemented, Snyder said. Sounds like code words for taxpayer funded “bailout” to me.
http://www.freep.com/story/news/local/michigan/2015/09/29/snyder-state-action-coming-flint-water/73033462/

With the financial problems in Michigan’s other big cities such as Flint and others where does the taxpayer funded “bailouts” stop? Is this the real reason Lansing is hell bent on raising our taxes?

The rainy day fund to bail out all these communities will eventually run out of taxpayer money and I say that will be sooner rather than later. All these dead-end solutions will lead to a bigger intrusive government and the loss of even more Freedoms and Liberties for the citizens. Tax increases anyone?

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Detroit Bailout Leaves Michigan Taxpayers On The Hook For More Than $195 Million – AND A LOT MORE!

1 Detroit Aid $195M

Below you will find just a few examples of how Michigan Taxpayers are on the hook for a hell of a lot more than this “Grand Crap Sandwich Bargain” of $195 Million of your tax dollars! If this isn’t leaving a bad taste in your wallet just wait, now that this is done they are working real hard for you up in Lansing to pass legislation as to raise your Gas Taxes too. 2 FilmTaxCredit

While Detroit Goes Bankrupt, Michigan Taxpayers Hand Disney’s ‘OZ’ Nearly $40 Million in Film Credits and this is but one example there are numerous other Film Subsidies that have and will be handed out to Obama’s Hollywood supporters!

The hard part to swallow is our legislators all think it’s funny that they are spending our tax dollars on this wasteful venture that corrupt politicians created in the first place. They won’t be out done they will all laugh when they pass yet more tax increases on we Taxpaying Citizens of Michigan. 3 Detroit Crony Capitalism

Can any Taxpayer in Michigan explain to me why our taxes should be used for the rich and wealthy as to continue to build their empires?

The Taxpayers of Michigan have had to pony up over $515 Million in subsidies for Ford Field, Comerica Park and the New Red Wings Arena not to mention the Pontiac Silverdome which was built and maintained with a taxpayer subsidy buried in an Agriculture Bill.

http://www.michigancapitolconfidential.com/18040

State Awards $830K Taxpayer Money to new Detroit Grocery

4 Detroit GroceryMore than $1.2 million in grants and loans have been awarded to the owners of the grocery and retail center it anchors. The “failed” Michigan Economic Development Corp. (MEDC) announced the funding this week. The money was approved by the Michigan Strategic Fund.

The project was awarded a $830,000 grant by the state of Michigan’s economic development agency. That’s on top of Detroit Economic Growth Corp. providing a $200,000 loan and a $225,000 loan through Invest Detroit, which funds city development projects.

http://www.detroitnews.com/article/20140530/BIZ02/305300034

$127.5M in aid OK’d for projects in Pontiac, Detroit, Cheboygan
The Michigan Strategic Fund approved a request today for a $125 Million Taxpayer Funded subsidy to Green Box NA Michigan for a yet-to-be-built plant in Detroit. The Michigan Strategic Fund is just one of the many tentacles of the “failed” Michigan Economic Development Corp. (MEDC).
http://www.freep.com/article/20140527/BUSINESS06/305270132/Michigan-Strategic-Fund-Pontiac-Assembly-Plant

State to spend up to $20 Million to improve Belle Isle 5 Belle Isle Grand Prix
The state (we the taxpayers) said it plans to spend up to $20 million to improve the park during the first 18-36 months of state management.
http://www.reuters.com/article/2013/10/01/us-usa-detroit-belleisle-idUSBRE99018R20131001

Belle Isle Roads Resurfacing
For the 2014 Grand Prix in Detroit on Belle Isle $3,500,000 Million allocated on December 18, 2013 from the states Trunkline Fund. So again the rich and well connected benefit from we taxpayers such as Roger Penske with his “Team Penske” motorsports who raced and won at the Grand Prix this year on Belle Isle.  
http://www.michigan.gov/documents/mdot/OGA_Dec12_State_List_442695_7.pdf

6 Detroit M1 RailWayne County OK’s $3 Million Taxpayer Money on road fixes for new M1 Rail street car project
Michigan Taxpayers should question why the money wasn’t being spent to fix potholes. “The money being utilized for this project is supposed to be restricted for road purposes.”  Being as Detroit and Wayne County both are broke and facing financial issues with Bankruptcy along with the state in control how could this be?
http://www.detroitnews.com/article/20140603/METRO05/306030086

Could Wayne County Go Bankrupt Next?
With the news of Detroit’s bankruptcy still sinking in some financial experts say Wayne County could be next. But other cities are facing similar financial difficulties as well…can you say Flint as but just one other example?
http://detroit.cbslocal.com/2013/12/05/561511/

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China Benefits from Michigan Taxpayers with our Lansing Legislator’s Help

Taxpayers Lose Again, Fisker Automotive Sold to China’s Wanxiang
Wanxiang bought Fisker’s battery supplier, A123 Systems LLC, last year through a similar bankruptcy sale. A123 and Fisker were both recipients of a controversial U.S. Department of Energy loan program meant to support clean energy technology. Michigan taxpayers also suffered dearly when the quasi UN-elected MEDC give away tax dollars to A123 Systems in taxpayer funded subsidies.
http://www.reuters.com/article/2014/02/18/us-fisker-wanxiang-sale-idUSBREA1H1LM20140218Snyder-China_GuvOffice

Michigan‘s A123 Systems Files for Bankruptcy
State Battery-Plant Subsidy was a “Risky Venture” from the onset with several economist warnings. The Michigan and Government-funded battery maker files for bankruptcy after receiving $249.1 million federal grant money (taxpayer dollars). A123 Systems received a $100 million “cash subsidy” (taxpayer dollars) from the state of Michigan for a 75-acre facility the company had leased in Romulus.

The subsidy was in the form of cash because the plant had been granted “renaissance zone” status by the Michigan Economic Development Corp. This is yet another in the long line of failures of the Michigan Economic Development Corp. an entity that should and must be abolished as to cut the size and scope of Michigan Government and save the taxpayers money!
http://www.michigancapitolconfidential.com/13557

A123 Systems won another $125 million in tax credits and incentives from the Michigan Economic Development Corp in spring 2009 and a $10 million cash grant from the state in fall 2008. Just move along nothing to see here Michigan Taxpayers just more of our tax dollars down the drain courtesy of the “failed” Michigan Economic Development Corp. (MEDC).
http://www.annarbor.com/business-review/a123-systems-no-assurance-it-can-continue-to-operate-as-a-business-filing-says/

China’s Wanxiang Corp. Bought A123 Systems now Fisker
http://www.bostonglobe.com/business/2014/02/18/will-purchase-hybrid-car-firm-make-player-auto-industry/PrkLDrmgtN8UJR2mRdEv6J/story.html

Wanxiang Group Buys American Battery Maker
Michigan taxpayers ponied up a plenty in subsidies for this failed battery maker that was purchased by China’s Wanxiang America Corp.through the “failed” MEDC.
http://www.nytimes.com/2013/01/30/business/wanxiang-group-buys-american-battery-maker.html?_r=0

Wanxiang buys A123 systems
https://www.google.com/#q=Wanxiang+buys+A123+systems

Fisker’s assets to go to Wanxiang
Along with the wreckage of A123 and countless other “stimulus”-driven financial black holes the Chinese have acquired, the government in Beijing and citizens of The People’s Republic thank the United States for both borrowing money from China and then using it to buy assets it sells back to them at pennies on the dollar. Well done Michigan Lawmakers and the “failed” MEDC along with our lawmakers in D.C. more government for everyone!
http://www.autonews.com/article/20140218/OEM05/140219858/fisker-wins-approval-to-sell-assets-to-chinas-wanxiang

Bankrupt Fisker’s assets to go to China’s Wanxiang
https://www.google.com/#q=Fisker%27s+assets+to+go+to+Wanxiang

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