All investments have volatility. Money under the mattress has inflation rate volatility. Over 30 year rolling periods, bonds have never beat stocks. Stocks returned an average of 2,428% and bonds returned an average of 550%. (Source: Plan Your Prosperity, Ken Fisher) Is it possible for the City to invest a portion of the taxes it collects instead of borrow, tax, and spend? Is it possible for the business of running a City to operate at a profit?
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