Billionaire Welfare King Dan Gilbert Will Rake In Billions In Free Handouts From Michigan Taxpayers
Detroit media outlets reported that Michigan Welfare King Dan Gilbert requested $250 million from Michigan taxpayers. Gilbert wants the funds to help finance four projects he’s planning in Detroit.
The Gilbert friendly media in Detroit isn’t reporting that he really wants $618 million. Detroit media also refuses to report Gilbert wants Michigan taxpayers to cover nearly 30 percent of the $2.1 Billion cost of the four projects.
The money Gilbert is getting comes from the $1 billion pot of taxpayer assistance available for wealthy developers.
State lawmakers approved the “Gilbert Bills” earlier this year. The bills were named after Gilbert because he gave money to key members of the legislature to get it passed. Consequently, Michigan created an arrangement in which residents pay their income tax to a feudal lord instead of the government.
Gilbert would collect all income tax revenue from any resident or employee of a business that moves into his buildings.
Most of the businesses and residents who will move into the buildings already exist and they currently pay taxes to the state of Michigan.
However, the taxes from businesses and residents moving into Gilbert’s new buildings would no longer go to the state. The tax money would instead go to Gilbert. Thus, shrinking the state’s tax base to pay for road repairs, law enforcement, and fund public schools.
The laws also allow Gilbert to come back for more money each year for the next five years.