Tuesday, January 13, 2009
Feeling the Pinch
Everyone has been waiting for it to happen. Actually, I'm a bit surprised that it didn't happen a few months earlier with gas prices being so high this summer. Hopefully, since gas prices dropped before Christmas people had a little more money to spend and the HMR tax increased a bit. The Fayetteville City Council should be keeping a close watch on how money is spent and try to curb their impulse to raise property taxes to make up for the HMR tax loss. Increasing taxes will just make people spend less. Less spending means less taxes collected, a vicious cycle.