Comment 34136

By A Smith (anonymous) | Posted September 25, 2009 at 18:36:18

Ryan, I thought that successful cities didn't compete on price? Didn't you say that? Now you're saying that it's a good idea that Hamilton offers developers zero interest loans?

Here's an idea Ryan, if you're going to support programs like "The Hamilton Downtown Residential Loan Program", that's fine, but why not be honest about why they work? And that's because people respond to financial incentives, something you have said many times before.

If we now know that people ARE motivated by keeping more of their money, why not make all of downtown Hamilton a low tax rate environment? By lowering tax rates on each dollar of investment, the cost of investment comes down, thus making the return on each dollar of investment go up.

Furthermore, because lower tax rates are safer than direct loans to developers, the city will get the upside of stimulating investment, without the risk of picking winners and losers. It will simply set an environment where people CAN make money and then home buyers will decide who does the best job.

Ryan, Jason, I'm glad you're finally seeing the light when it comes to giving people financial incentives to invest.

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