By Tom Warren II, Publisher
What creates the ideal conditions to vote for a tax increase? The City of Amarillo would surely lead you to believe that those conditions exist now. However, the facts are that in the current economic climate nothing could be further from the truth. With that being said, it takes looking no farther at the topics of current events to see that there are some real problems developing that will definitely effect the bottom line in each household, and make paying for such an increase less than pleasurable.
Over the last several weeks, there has been an issue in China that has cropped up in the news with it's second largest real-estate development firm, China Evergrande. It's ability to service debt and make payments on it's outstanding bonds has set into motion a daisy chain of defaults. While many of the firms directly affected at the moment are in China, it would be foolish to think that these events will be Isolated. We all have directly seen the effect the pandemic on families, businesses, and household economies over the last two years. It could easily affect many of the markets in our own country, and even in Amarillo. And with all of those things being mentioned, dare I mention inflation?
It should be no secret that if you do your own shopping, things do not cost exactly the same amount as they did two years ago. Amarilloans are paying higher prices at the gas pump, increased prices at the grocery store, and larger prices for all kinds of goods and services. Thinking of all of these things, how will a tax increase benefit or harm you?
I hate to take it down to a personal level, but that is where the generation of tax revenue begins. You as a taxpayer must get out of bed every day and go to work to generate the paycheck that pays your taxes on your property, the two cents per every dollar that you spend locally that goes into the City coffers, and every other tax that comes along. It's an important thing to be civic minded and maintain a positive outlook, but you need to be aware of all of the things that currently do and could possibly effect you and your family.
A perfect question would be, how would an additional $50 expenditure per month expenditure effect you? Would that only affect your ability to go out and eat sometime, or would you not be able to pay your electric bill? Now, add on several increases at the same time. If you had to pay more at the grocery store on top of the additional $50 per month, and then at the gas pump would you be able to handle it? Then, think about the three increases that I mentioned along with a higher electric bill, and a higher water bill every month. Now you would be paying all of these things monthly for the foreseeable future. Tax increases never roll back, they always stick. And one last thought. What happens to both you and your family if you have a major emergency in the meantime such as your car breaks down?
I am not trying to write a sensationalist article either for or against the proposed tax increase by the City of Amarillo that is on the November ballot. I am only trying to inspire you to do some research and put some forethought into the choice that you make while voting. Can you personally afford a snowball of increases in your monthly budget, and how will those increases effect your standard of living?