LETTER: Inflation makes bonds unaffordable
One aspect of the bond debate that is often overlooked is the difficulties caused by inflation. The problems we are currently seeing are not just the natural result of a cyclical economy. Rather, it was caused by the printing of trillions of dollars combined with destructive policies in energy and foreign policy. And far from being a temporary setback, there is no evidence that the current administration plans to reverse these mistakes.
As consumers, we already feel the pain and know that additional taxes will only further erode our finances. that alone is a good reason to oppose a bond right now. The hardest hit will be those on fixed incomes, many of whom are elderly people who may be forced to leave the only community they have ever called home.
Also, no one has mentioned how inflation will affect local government: the city, county, and school system will see their insurance premiums, hydro bills, and equipment costs go up. Even Joe Biden acknowledged last month that the disruption of grain exports and rising fertilizer prices due to the war in Ukraine made global food shortages possible. This will undoubtedly put a strain on the school district’s lunch budget in ways that were not envisioned.
Obviously, these increased costs will result in increased taxes or reduced services, probably both. Property taxes are guaranteed to rise just to keep up with the inflated costs and the sharp rise in assessments will sting us even more.
The uncertainty of our economic situation, coupled with bad policy at the federal level, will cost us all dearly. Now add the link on top of that. How many people can afford to double their property taxes? How many people could be driven from their homes? Does taxing people on their property or making their rent unaffordable really help “grow Hays” and project an image that will appeal to people?
Eugenia Spady, Hays