JaxPoliticsOnline.com

Observations and musings on Jacksonville Politics

Jacksonville’s Ponzi History

It should come as no surprise to Jacksonville taxpayers that, lo and behold, Charles Ponzi—the father of the infamous Ponzi scheme—was a former resident of our fair city. After all, isn’t our local government run like a massive Ponzi scheme? Mayor Peyton’s latest proposed tax increase (at the rate he’s proposed new taxes over his two terms in office, he’s gunning for a new nickname—Taxin’ John of Taxonville, but that’s commentary for another day) strips the funds that were set aside in the Better Jacksonville Plan for rapid transit and moves them to other road projects. (Of course, let’s not forget, this was a voter-approved initiative and they are moving the funds without voter approval.) They have already moved around monies to pay for the ever-ballooning courthouse. And, of course, let’s not forget the tens of millions promised to the Jacksonville Jaguars. We have yet to identify where that money will be coming from, but rest assured it will be found somewhere.

Perhaps Bernie Madoff, and Charles Ponzi before him, should have avoided the private sector. They could have had a long and fruitful career in Jacksonville politics—no prison time involved.

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