The last highlighted paragraph here illustrates the whole problem with the mindset of a committed "economic developer", i.e. the market isn't doing what we want so the market must be wrong.

Plus, it is a false choice. "Doing nothing" in this case should more properly be described as not getting in the way of "supply and demand" or, as some would call it, the free market. This is the default choice of 90% of those pushing the ED Sales Tax as long as we are talking about anything other than the ED Sales Tax. "Doing something" in this case means initiating an increase in taxes and creating at least two new layers of bureaucracy all so six unelected officials can...um...correct the mistakes of market participants by re-routing your tax dollars into private companies in sufficient levels for them to see the error of their ways.

"The economic development plan and sales tax is a 'stabilization plan', designed to attract businesses from other industries to relocate here, help diversify the economy and reduce our dependence on the oil and gas sector."

I guess the 'Stabilization Plan' was Plan A and resides squarely under the bus with Plans B and C. We are now at Plan D (MDC Image Rehab) which is why we are subsidizing parking garages for oil industry service company giant Basic Energy Services and slipping Apache Corporation some money to buy something pretty for themselves. If you think that perhaps Plan D might represent a clear re-purposing of the of ED Sales Tax funds as originally stated then you lack...you know..."vision".

".....and spending in the community like construction, materials, supplies, services, etc."

Remember: Washington Stimulus Package: Bad! Midland Stimulus Package: Good!

"All investments will be based on performance-based criteria."

[Snip]

"These investments will be paid back should the company not meet its obligations."

Again, the City Council has before it several decisions that will tell us whether that is indeed the case.

"In all cases, Midland will receive more than we will invest in any company."

Let us pretend that it is still 2001 and we don't have access to piles of evidence to the contrary that we have now. The campaign for an ED Sales Tax is still essentially a prospectus for an investment, is it not? Now can you imagine what your reaction would be if you saw this statement contained in any other prospectus? In the world of real investments they actually have laws against saying this kind of stuff. In the Land of ED, Unicorns, and Magic Fairy Dust? No problem. Zero risk in any and all ventures you say? Why, only an Aginner could be against that. Or a Midland hater.

• Part I: If we don't pass this tax, then the Terrorists will have won!
• Part II: This economic development stuff is easy!
• Part III: We will use this money to diversify the economy. Except when we don't.
• Part IV: Government bailouts? No problem!
• Part V: Naysayers! They have no vision!"
• Part VI: That Free Market thing? That's like sooooo Reagan. We're smarter than that now.