To the editor:
Yes, our property tax values are rising. I question why so many are quick to blame the current administration for this ...“stubbornly high inflation.” Some could just as easily blame the administration of Governor John Engler and his political party because Proposition ‘A’ was their big idea in the first place. It’s looking like another failure right about now.
Inflation is typically measured by the Consumer Price Index, which tracks the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. If using coupons this can usually evenout over the long term.
But let’s look at the real culprit behind the scenes of these continuing across-the-board price increases. Corporate Profits in the United States increased from $2.7 Trillion in the third quarter of 2023 to $2.81 Trillion in the fourth quarter. The projected first quarter results for 2024 are expected to shatter another record. A tidy sum indeed for those involved in stock buy-backs or born into a wealth dynasty and as always, the wanna-be’s.
Meanwhile, we complain about the cost of soup, fuel and the stuff we want but can’t afford while all the major corporations and the uber-wealthy see their taxes increasingly disappear. Needless to say, we would all benefit if they paid their fair share.
Inflation is similar to climate change, though not as deadly. Both are cyclical, both are manmade and both are energized by simple greed.
And both final costs have yet to be determined.
John Hunter Bingham Township
