xez
so everyone's gonna fight about detroit filing bankruptcy. and it's gonna cost more. making it even less likely the city will get back on its feet. what they should do is turn detroit into an experimental economic zone. economists would love to test some of their pet theories. make an offer. or ten. let the people vote on em. it'd be a pretty good place to test a wealth tax. course the federal government would have to get buy in. ie make detroit residents exempt from current tax laws. actually, that shouldn't be too hard. given detroit is likely a net drain on federal resources. the experiment would run for a period of time. and if it fails, we've learned something. like maybe supply side economics really really doesn't work as expectations. we move on. and start the process all over again. until we find something that does work. my money's on a wealth tax.