I was reading Strong Towns by Charles L. Marohn Jr. In it, he describes how cities must have revenues that exceed expenses in order to survive. However, in his experience, most people react to the idea that cities should "make a profit" with disgust - not only that, but most of our cities don't make a profit. They're deeply in debt.
It got me thinking. Our cities need to not be in debt. But also, do they need to make a profit? What if a city, or any governmental entity for that matter, was able to implement a policy that allowed them to exactly recoup their losses for the year by taxing just enough to break even?
It seems to me that taxing no less and no more than what is needed could have significant merit. Has any government ever tried this, and were they successful?