Apparently, there is a caveat to recent ‘good news’ for the DIA.
Reposted from The Mackinac Center for Public Policy in time for Rick Snyder’s State of the state address tonight:
Don’t Bail Out Detroit with State Tax Dollars
By Michael Lafaive
The recent announcement that philanthropic foundations may donate $330 million to help the Detroit Institute of Arts, which would also help city pensioners avoid the consequences of Detroit government mismanagement, sounds like great news.
Unfortunately, there may be a hook: A requirement that the state treasury contribute, which would convert voluntary private generosity into a coerced taxpayer bailout.
A state bailout of Detroit is a terrible idea. It creates moral hazard and adds to the overly generous financial support the city has for years received from state taxpayers.
And it’s unfair.
(2)Nuh Uh.
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