A Nation of Candy Asses

This is happening in my neck of the Great Plains. Bet you can find examples nationwide.

Developers created Prairie Center, a mega shopping complex totally dependent on wheeled traffic. Two miles away from any houses. Get themselves set up as a private government entity able to levy sales taxes at 2.25% to pay for their improvements. This money goes to the developers, not any government entity. Of course, city, county and state sales taxes are also collected. Comes to just over 10%.

Fast forward a few years. The development is nearing bankruptcy. The combination of economic downturn, location, high prices from high rents, and competition from other overbuilt commercial developments are some of the causes. What else? Their books aren’t open to the public, so we don’t know. Cynical minds suspect corruption, inflated salaries, etc. Usual suspects.

Their next move is to get their less than ten year old development declared an “urban blighted area” and apply to the cities for aid. In short, taxpayers, “bail us out.” Damned if they didn’t succeed.

http://www.ftluptonpress.com/content/prairie-center-be-considered-part-urban-renewal-area
http://www.thebrightonblade.com/content/council-approves-prairie-center-urban-renewal-area

Yes, we are a nation of candy asses. Used to be the last asset a failed business had was a law suit. Now it is seeking a public bailout. Why not? Worked for Chrysler and General Motors.

We need to let these enterprises fail. Overreach, step on your pee pee? Oh well. Short term social turmoil for long term social stability.

But WSF, consider the pain. Well cupcake, been there, done that, picked up the pieces and moved on. I’ve seen the inside of a bankruptcy court. Didn’t kill me.