Friday, September 2, 2016

Raising Taxes As The Global Economy Declines

News
Essential services infrastructure remains in a deplorable state for many cities across the United States. While many of these cities raised taxes to build professional stadiums, downtown trolleys, or and non essential services, they've neglected critical infrastructure for decades. Why? Proposals to tax, spend, and borrow to save a beloved sports team wins elections, while proposals to maintain/upgrade critical infrastructure loses them.

Cities such as a Baltimore will be forced to raise taxes to fund essential projects while the economy struggles through liquidation.  The subsequent declining standard of livings as unemployment rises will fuel social tension.

Headline: Baltimore water, sewer rates to increase by 33 percent

BALTIMORE (AP) — Within about three years, Baltimore residents will be paying about a third more for water and will also be charged two new fees to help pay for repairs to the city's aging infrastructure. The Baltimore Board of Estimates voted 3-2 on Wednesday to hike the water rate by an average of 9.9 percent annually and sewer rates 9 percent a year through fiscal year 2019.


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