Reply to DC Council votes to raise taxes on the “rich”

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The problem for DC right now is that they have a lot of debt and a constrained tax base due to no population growth. That means that they will need to increase taxes on those who remain to maintain the same levels of service. Or, they will need to cut programs. If they make cuts to programs to those who pay the taxes, then those people will leave which will exacerbate the problem.[/quote]

That sounds like a lot of conjecture with no reality.  Where's your evidence that:

1. We're overly leveraged on debt.  I'm fact, DC has to have a balanced budget every year and our credit ratings, I believe, is AAA.
2. That people actually will leave because of taxes?  Studies I've seen have shown that it isn't a trend.  Just a common DCUM mantra.[/quote]
DC has a triple A rating only because all of their income tax revenue is pledged. It doesn’t go directly into the city’s coffers. Instead, it goes to a bond agent who pays the coupon and returns the remainder to the city. [/quote]

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