Reason.com
New at Reason: Creators Syndicate President Rick Newcombe on Why He'll Leave L.A. (Hint: Arbitrary and Dictatorial City Tax and Business Policies)
Rick Newcombe started Creators Syndicate in 1987. In 1994, the company won a case against the city of Los Angeles over its business tax classification. Newcombe writes:
Everything was fine until the city started running out of money in 2007. Suddenly, the city announced that it was going to ignore its own ruling and reclassify us in the higher tax category. Even more incredible is the fact that the new classification was to be imposed retroactively to 2004 with interest and penalties. No explanation was given for the new classification, or for the city's decision to ignore its 1994 ruling....
As long as City Hall operates like a banana republic, why is anyone surprised that jobs have left the city in droves and Los Angeles is teetering on the brink of bankruptcy?
Most Popular Stories
Reason RUPE: Public Opinion Survey
- Wisconsin: 65 Percent Believe Gov’t Workers Receive Better Retirement Benefits (5.29)
- Wisconsin: 69 Percent Favor 401(k)-Style Accounts for Government Workers (5.29)
- 17 Percent of Wisconsinites Favor Disbursing Retirement Benefits to Gov’t Workers Before Age 65 (5.29)
- Reason-Rupe: Wisconsinites Favor Increasing Public Union Retirement Contributions to Address Budget Deficit (5.25)
- Reason-Rupe Poll Finds Support for Public Union Reforms (5.25)
advertisements
Reason on Facebook
Reason on Twitter
Reason on YouTube
Reason RSSGet Reason E-mail Updates!
Manage your Reason e-mail list subscriptionsSite comments/questions:
Media Inquiries and Reprint Permissions:
(310) 367-6109
Editorial & Production Offices:
3415 S. Sepulveda Blvd.
Suite 400
Los Angeles, CA 90034
(310) 391-2245
Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment or disable your ability to comment for any reason at any time.
nike warches |9.4.10 @ 3:08AM|#
As it turns out, the Obama administration put $13.4 billion of the aid money as "working capital" in an escrow account when the company was in bankruptcy. The company is using this escrow money—government money—to pay back the government loan.