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REACH Mentoring Program

Letters: Taxpayers shouldn't fund Wall Street failures

 

November 29, 2019



I was right. At the last Mercy Hospital District finance committee meeting, it was admitted that $306,000 was lost in the stock market account for 2018. They took $500,000 in tax money from five townships and three little cities and lost $306,000 of it playing in the stock market.

State Statute 447.34 “Payment of expenses; taxation” states in Subd 2 “on or before September 15 of each year, the hospital board shall decide the amount necessary to be raised from ad valorem tax levies to meet its expenses.” Since when is gambling on the stock market a legitimate expense? The 2018 tax le...



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