Is the death-spiral of the Middle Class still mysterious to people when municipalities PAY to have cash-larded retailers come in to help shutter any and all local businesses?
Wal-Mart throttles South Milwaukee:
The city will spend $800,000 to clean up environmental contamination on the city-owned parcel. The city also will spend up to $1 million on cleanup work on an adjacent 6.5-acre parcel owned by an investment group, led by Briohn Building Corp., that Gatlin is buying.
The city's project costs could total $3.05 million. That amount includes $1.75 million previously spent to acquire and do earlier demolition and cleanup work on its 3.5-acre parcel, minus $500,000 Gatlin will pay South Milwaukee to buy that land.
The Walmart will generate $276,000 in estimated annual property taxes, which will be used to pay off the city's costs, including interest. Once that debt is paid off, the property taxes go to the city, its school district and other local governments.
Do the math. So much for sustainable communities.
Very, very sad.