Friday, April 11, 2008
For those of us with unresolved outrage over the Kelo v. New London decision regarding eminent domain, Tom Kirkendall has a post on its impact in practice. Naturally, it involves huge profits for a real estate mogul and a facility to attract a professional sports team.
If I ever won the lotto and had money to spend, I would try to eminent domain Drumthwacket or Gracie mansion in the city. Would it not be a public good to remove these mansions from prime real estate locations? I would destroy the facilities and then put up some other development for the betterment of the local community. No tax revenue is collected now from these locations. Imagine how much better the schools, and towns can be with an increase property tax levy. Remember, it's for the Children.