Column: U.S. Rep. Clarke has an idea that could save Detroit (and other U.S. cities) from ruin

[LuckyTheDog]

Hansen Clarke’s idea to save Detroit could be crazy enough to work

U.S. Rep. Hansen Clarke has a crazy plan to save Michigan’s largest city. Or, I should say, he has a plan that seems that way until one realizes every non-crazy idea for saving Detroit has been either tried already, or dismissed as politically impossible.

To some people, Clarke’s plan still might seem to be a little bit “out there,” even considering all that. But, crazy or not, Clarke’s bold proposal is getting some serious traction and picking up support from both sides of the aisle.

The centerpiece of Clarke’s proposal is something he calls a Detroit Jobs Trust Fund. Before you start thinking “federal bailout,” or “massive hand-out,” you should know that, while the fund would consist of real money, none of it would be yours – that is unless you live or operate a business in Detroit. And even if you do, it would not raise your taxes one penny.

Clarke’s bill would “capture the federal tax revenues collected from persons and entities in the City of Detroit to be invested in local redevelopment efforts for a period of five years.” In other words, it would use Detroit’s own money to fix the city by (and this should be music to the ears of liberals and Tea Party patriots alike) denying about $2 billion per year to the U.S. Treasury.

More: http://www.northstarwriters.com/2011/10/25/hansen-clarke’s-idea-to-save-detroit-could-be-crazy-enough-to-work/