Friday, August 8, 2014

Death and Taxes - No hit or miss thing

Talking about Lake Worth 2020 and the General Obligation bond, a resident made the following snarky statement on Facebook's  Lake Worth Voice after another resident said: You can't determine the proposed costs to the tax payers and what they will pay because it's based on assumptions that may or may not occur from year to year. To say otherwise is not accurate.
:
  • Member: Sam, You don't know if you'll be hit by lightening tomorrow but I bet you'll still leave the house at some point.
Now, the simple fact that you might become a lightning victim in the U.S. in any one year is 1 in 700,000. The odds of being struck in your lifetime is 1 in 3,000. Source:  National Geographic. This is a silly analogy by the YES people.

We know for a fact that if this bond is voted in you will be paying taxes for 34 years on $63.5 million borrowed and on a payout of slightly over $131 million. There is no hit or miss about it. We also know for a fact that the amount you pay from year to year will not be constant as property values rise or even possibly fall again.  This humongous multi-million debt should be cut to a sustainable level, not grabbing it all for possible/probable diversion to "pet" plans or dreams.

The only things that are certain in this life are death and taxes.  This is one tax that can be avoided when you vote AGAINST on August 26.

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