Wharton School of Business posted an article/pod cast in August 2018 regarding “The Time Bomb Inside Public Pension Plans”. On the pod cast, Wharton’s Olivia Mitchell and Leora Friedberg of the University of Virginia discuss the $4.4 trillion public sector pension shortfall. The research is very clear that these Public Pension plans have been it trouble for years and the chickens are coming home to roost.
Tag Archives: Property Taxes
TAXED ENOUGH ALREADY?
The TEA Party is about its roots and definition being “Taxed Enough Already”! In many instances the various organizations across the US have had effect in the past impacting national, States and most important local entities. NOW is the time for Citizens to Re-Engage!
Across the States and in Ohio in particular, this week was sent out a Call to Action email that is full of information which brings citizens back into focus regarding “Local Issues” specifically Levies. The November ballot is ripe with levies that are not sustainable nor are they affordable. Many of the Citizens in this authors home county, Geauga County, were hit hard in the Primary cycle with Levies that in some cases will last for 30+ years. Longer than many of the aging population in the County will be live for.
This author, in May participated in the Liberator Network Conference. From that conference a nine-county N.E. Ohio working group has formed to focus on “Local Taxation and Taxing Authorities”.
Many of the Taxing Authorities, known as taxing Subdivisions, not only get state money as mandated in the Ohio Constitution but have the ability to tax the Citizens of the County. This is all done with your permission, by your vote on Levies.
When you look at the November Ballot – You better be asking if you can continue to afford the Multitude of Levies! The Tax Working Group has the Data that says YOU Cannot – You are TAX Enough Already!
Emotionalism can be deceptive
So don’t get all emotional about the Levies and let the proponents of the Levies get all mushy and emotional with you. We will be coming out with the Hard Facts soon and reality is that you should just start considering that:
1. Out of the Nine NE Ohio counties that submitted their taxing authorities data: Geauga is the highest taxed on property exceeding $2,000.00 per capita.
2. In the last ten years our taxes have gone up about 10%, while
3. Population growth has remained stagnant and,
4. Population Aging in the County for ages over 65 has increased by 28% and,
5. Incomes have dropped over 8% – And a whole lot more information forthcoming that clearly tells we Citizens that –
All the Levies are UN-affordable!