DC Tax Revenue Comes in $100MM High, Is Instantly Vaporized

The DC government is still riding the real estate boom. This year, the taxes came in a big $100MM above predictions. Of course Mayor Fenty immediately allocated that over-payment of tax funds:

Fenty plans to ask the D.C. Council to invest about $29 million of the money in the 50,000-student school system, including spending $7 million to offer severance packages to hundreds of central office employees in a massive restructuring being planned by Chancellor Michelle A. Rhee, administration officials said.

Fenty also wants to spend $14 million to expand job programs for youths and for ex-criminal offenders and $12 million to repave streets and alleys, officials said.

Did you notice that the number of pupils in this article dropped to 50,000? So that equals a cost per student of $20K!I think that repaving is a great idea as that is a basic use of taxpayer money but jobs for youths and criminals ought to be left to the market.