Saturday, October 27, 2012

Scott Reeder: Of mice and men's long-term brief taxes - Rockford, IL - Rockford Register Star

Interesting story—especially in light of District 100’s sales tax referendum

Stifel Nicolaus, one of the nation’s largest investment banking firms, put out a slick video that depicts the sales tax as a wondrous financial instrument designed to reduce property taxes.

I’ll let you in on a secret.

Outfits like Stifel Nicolaus have one thing in mind: marketing debt.

They get paid every time they handle a bond issue for a governmental entity and sell it off to investors on Wall Street.

Usually what sparks a school district asking for a sales tax referendum is a desire to build a school or make improvements to buildings,” said Roger Eddy, executive director of the Illinois Association of School Boards.

Scott Reeder: Of mice and men's long-term brief taxes - Rockford, IL - Rockford Register Star

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