Friday, October 28, 2005

Tax Hike Passed

The Fayetteville City Council approved a 2 mills property tax hike. Story Here. It comes as no surprise. Any time a city can raise taxes it will. They are also discussing a 1 cent sales tax. I expect that too will pass.

I'd like to know why are they supporting the public library's pursuit of a 2.5 mills property tax increase? What makes them think people will support it after they've just increased it? People are already hurting from the increase of gas and are expecting a really big hit from heating costs this winter. We are already cutting our spending. Less eating out, no movies, cutting down on our traveling, reduced our cable bill and planning to spend less for Christmas.

Time for a lesson: The more you tax people, the less money they have to spend. The less money they spend, the less tax revenue you collect.

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