Debt and Taxes

Some Trivia:
It used to be death and taxes, two things we were assured about.  Now we can add debt to the mix--

More Americans than ever say they owe more money than they did last year, and they’re more pessimistic about their future interest rates according to a new Rasmussen Reports national telephone survey. It found that 34% of American Adults now owe more money than they did last year, up from 32% last month  and the highest finding in regular surveying since April 2009.

The latest annual inflation rate for the United States is 2.1% through the 12 months ended May 2014. We, as consumers, have felt inflation, which seems much higher, just in the normal staples that we need for daily basic sustenance. So, we are more in debt and the city and the county are raising taxes. If Lake Worth's bond referendum is approved by the voters, we will be the highest taxed city in Palm Beach County in a city occupied by residents making less than the national average.

The unemployment rate in Palm Beach County is at a low of 5.9% through May. People are finding jobs that aren't paying what they used to pay or in a totally different field. As you can see from the stats below, the majority of people in Lake Worth make far less than those who are calling the shots--staff at city hall and our elected representatives, those who want to put you in more debt for over thirty years.

Yes, we need some of our infrastructure repaired and/or replaced but what we don't need is a $131 million debt. It's the all or nothing approach we find so impossible to accept.

2014 Households by Household Income
$15,000 and under 2,783 (24.65%)
$15,000 - $24,999 1,705 (15.10%)
$25,000 - $34,999 1,592 (14.10%)
$35,000 - $49,999 1,705 (15.10%)
$50,000 - $74,999 1,659 (14.70%)
$75,000 - $99,999 1,005 (8.90%)
$100,000 - $124,999 441 (3.91%)
$125,000 - $149,999 179 (1.59%)
$150,000 - $199,999 111 (0.98%)
$200,000 - $249,999 42 (0.37%)
$250,000 - $499,999 57 (0.50%)
$500,000+ 9 (0.08%) 5,562 (0.98%)

Click here to see 33461