So Roads and water systems and the like are boondogles

Reader comment on: Thomas Sowell on Mellon, Taxes

Submitted by Lyle (United States), Oct 26, 2010 11:05

A lot of the bonds pay for schools (I guess they are boondogles) water and sewer systems, roads and the like. The facile statement that munis don't provide productive capacity is plain dumb. Some do and some don't, are airports productive as a lot of bonds go for them (Note however these bonds are now amt taxable).

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