Unedited economic’s 101
To the Editor:
I don’t understand all I know about this modern math. We on Social Security have had no increase for two years, and about a 1 percent increase each year for two years in our cost of living. Gas went from $1.89 to $4 a gallon until a couple of weeks ago. Food – I wish I had a newspaper advertisement from four years ago – is up substantially in four years. For real estate taxes, the inflation rate was 3 percent last year.
The government says it doesn’t count food and fuel in the cost of living. Ninety percent of my budget is food and fuel. What do they count? Left-handed screwdrivers? What will happen to interest rates when people realize they are getting a negative return on their government IOU or government bonds?
The cause of high real estate and other taxes is the “gotta-have people.” I gotta have 15 percent of the land in the McHenry County Conservation District off the tax roll and administrated by a large bureaucracy. An underpass for a bike crossing Route 14, two golf courses in the Cary Park District, etc. If you gotta have it, it has to be built and maintained for 70-plus years, thus the high tax.