A recent editorial supports the Portsmouth rulers using tax money to pay the Foundation for Seacoast Health almost more than $1.8 million for some land, which they will then spend more tax money on to build all sorts of goodies.
They ludicrously claim to see "...the foundation get fair market value for the parcel..." The reason why this is insane is because government purchase of anything does not reflect the market price. The market price is that price of a good at which a voluntary transaction will take place. That no one buys the land voluntarily suggests that it's too expensive to begin with, i.e., that there are other goods that are more urgently demanded by consumers. The price the government pays for something is a political decision.
This is just a crony deal, and the taxpayers get stuck with the bill...again.
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