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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (83654)	8/22/2008 1:22:09 AM
From: John Metcalf	Read Replies (1) of 116555

After reading all the discussion on taxes, I am very satisfied to live where I do (in the country near a town of 20k). The property tax bill that came this week is 5% more than last year. Total taxes are less than 2% of "fair cash value" of my home, which is less than the property cost 11 years ago. Education gets 70% of the tax. General government (sheriff, maintenance, fire protection, courts, etc.) gets less than 20%. About 12% is for library (won't be cut because it levies its own tax), roads, airport, and water infrastructure. No local elected officials receive full-time salaries or benefits. School board members are not compensated. Teachers, firemen, and police officers earn modest professional salaries. Pension obligations are funded concurrently. The reason we have reasonable taxes and no lavish commitments is that we did not participate in the boom. Property here was never expensive, so on-going costs continue to be low. The tax that short-changed me was Social Security. Had that money been invested, it would be returning more than I'll get from Social Security when I'm old enough.

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