If I hadn't read it with my own eyes, I wouldn't have believed it. Mayor Peterson has a plan to provide $75 million in property tax relief to Marion County homeowners by borrowing the money. What? That's right. He's going to raise your local income taxes by 65% on the heels of the largest property tax increase in the city's history and, because his appetite to spend can't be curbed, he's going to take out a loan to provide property tax relief to assuage voters sufficiently to make it through this year's election. Peterson said, "The cost of borrowing doesn't compare to the hit people are getting right now." "People are getting killed and are in danger of losing their homes. It's easier to cope with over 20 years." Tell that to all the people in bankruptcy court who tried to smooth out their finances by relying on credit cards.
Others' reaction to the mayor's plan is similar to mine. "I seem to recall once borrowing cash from a friend so I could make the monthly payment on a credit card I had used to pay my electric bill," Matt Tully writes. " Needless to say, it was not a sustainable plan." "But all these years later, the Peterson administration is using the same financial strategy as a slightly dimwitted college student (circa 1989)."
5 comments:
www.ballardformayor.com
He's a Marine, an economist, and not a career politician. I'm going to help him, if only to be able to gripe in good conscience if Bart is re-elected and we have to put up with him for another 4 years...
i'm all for Ballard getting all the media he can get. And for a strong debate on the issues.
But please, don't call him an economist. That'a revisionist.
This is a message my husband and I sent to the Mayor on July 12, 2007:
Mr. Mayor,
All we are seeing is that you all are coming up with a more creative way for the residents of Marion County to continue
to pay the exorbitant increase in property taxes which is precipitated by your exorbitant spending.
Apparently you are missing the very important message which is to STOP YOUR SPENDING! No one should have to sell their homes due
to increased taxes - NO ONE!
All the residents of Marion County are seeing is that you all keep coming up with more creative ways for the residents of Marion County to continue to
pay YOUR debt that you keep driving us into all because you refuse to curtail your spending.
In all of your ideas and speeches to us, none of us are hearing that you will greatly reduce your spending. Are your homes on the line
because of your increased taxes, if in fact your property taxes were increased? Why are you blind to the only solution: stop your spending?
Mr. and Mrs.
Indianapolis residents
P.S. Have you ever played the game Sim City? If not, get the game, plug in the taxes and see how much the city grows and prospers with exorbitant taxes.
TAX & SPEND...
-now the Democrats want to tax us for interest on a new loan, AND raise city council salaries.
What's next? The appointment of 3 more Deputy Mayors with $90,000 salaries & a few "Special Advisors" with similar salaries?
The current Deputy Mayors will probably need a raise, too.
Seeing is believing, too. Wathc the Star's video of Mayor Peterson's press conference discussing his plan. It veers from the surreal to the absurd. Find it at indystar.com...
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