With the Federal government printing money as never before, there is no surprise that inflation is way up.
For this year, it just hit 5%.
Assuming it does not decrease, that means every Tax Capped local government and school district can raise their tax levies by 5% for taxes to be collected in 2023.
The “We have to use it or lose it” crowd of public officials will be salivating.
In contrast, local tax districts will be limited to a 1.4% tax levy hike for the taxes paid next year.
Five percent inflation lowers the value of a $15 an hour wage to $14.25.
We need to start preparing now.
We need to educate the people in our communities as to why we have high taxes now and why we must work together to reduce not increase taxes.
It takes an educated people to stand up and get involved.
Cynthia, we have high taxes because we live in a Marxist state, and we have a junta in charge of the nation.
Isn’t the inflation going to outpace the PTEL thing?
I believe inflation will exceed the 5% Tax Cap limit.
The moron, doofus, senile, plagiarist, buffoon, alleged rapist, racist Biden and his regime has been reckless since Jan 20th on all matters in our Nation. They are the problem.
A long bout of inflation combined with robust growth might be the only thing that could save the Illinois pension system.
The Dems would probably just raise the COLA again if that happened.
Cynthia, where have you been for the last 30 years?
In a coma?