"I can never (as an individual) control or decrease my city tax burden as long as the majority continues to vote for city tax increases."
In my opinion, if one or both of the income tax increase proposals pass on May 4, it will hurt small businesses in Toledo.
Toledoans can change buying habits to find savings that will help offset increases in income and property taxes. Spend less money on entertainment like sport and art events. Buy a cookbook and dine out less and cook fancier at home. Engage in more Do-It-Yourself instead of farming the chore out to a local business. Do more comparison shopping. Shop more at big box chain stores, instead of the small, local, independent businesses if money can be saved. Shop more over the Web for the same reason.
If you can save 5 to 10 percent or more a month by eschewing small, local businesses and little luxuries like a $4 fancy coffee, well, that may be an unfortunate but necessary change in shopping habits. At some point, households "selfishly" have to think about themselves. I get the feeling that TPS and Toledo city government believe that all citizens are receiving 20 percent raises, and these significant tax increase proposals will not bother us.
The TPS .75 percent earned income tax increase proposal is devastating.
- A person with $30,000 income would pay $225 annually with the new 0.75 percent income tax.
- A $60,000 income would pay $450 more annually.
- A $100,000 income would pay $750 more annually.
If that tax passes, it has to impact households negatively, unless everyone is putting everything on credit card debt. These tax increases will cause some people to make changes to their budgets.
A household can save money by moving out of Toledo, which can hurt Toledo businesses. The quick fix, however, is for households to change buying habits. Voter-approved tax increases may cause Walmart to gain more fans, which is an ironic situation for Toledo.