May 15, 2015
You can’t make this stuff up.
Federal Reserve Bank of Minneapolis, the ONLY downtown property owner to be exempted from special tax assessment.
The DFL-controlled Minneapolis City Council is levying a special tax assessment on downtown property owners for the Nicollet Mall renovation. Even nonprofits are being made to pay. Even churches! But one entity is special. Only one has the clout to wiggle out, because they have friends in very high places. Guess who it is.
Perhaps the most powerful corporation in America, and one granted monopoly status by the federal government, the Federal Reserve will save $267,841 due to this extraordinary exemption. Its stockholders, which include JPMorgan Chase and Citibank, must be laughing all the way to the … uh, bank.
The outrage: if there’s a single property-owner who could afford the assessment, it is them. In their most recently-published Annual Report in 2012, the current NET income of the Minneapolis Fed alone was $778.2 million (page 317), enough to pay its stockholders $6.7 million in dividends that year (page 318).
What do Libertarians think about this? A few pictures, a thousand words.
See the original MinnPost article about this here.
Concerned about the expansion of government control and the erosion of individual liberty? Please consider joining and becoming active with the Libertarian Party of Minnesota. Libertarians support liberty on all issues, all the time! Libertarianism is a philosophical and political movement to promote personal freedom, strong civil liberties, a genuinely free marketplace, and peace.
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