It's Still The Economy, Stupid

Monday, July 21, 2003  

The Real Economy

A few minor fee increases showed up on my July bills. The bank that issued my Visa is now charging a $29 annual fee. The county in which I lived tripled the tax on residential electricity and quadrupled the tax on the local phone carrier. The fees will add an extra $10 a month to my bills (and I'll have to pay off, cancel and get a new Visa card), but it goes to show that both businesses and governments are having to sneak in fees to raise revenue. I'd recommend reading the next few months of bills closely. I can't imagine I'm the only one facing these, and they were in very very small type.

Despite raising my taxes, as well as recording and other fees, my county is currently debating reinstating an income tax for 2004. If the proposed income tax is passed, it will cancel out the tiny amount (about $35 a month) that was my Bush tax cut. Furthermore, my bet is that the county (and this is just the county fees, not the state) taxes will end up a bit more permanent than the Bush cuts, which nearly all phase out by 2010. Despite all the fanciful predictions, my bottom line seems to be zero as to the benefit of the tax cuts, if not a red number.

posted by Teddy | 7:20 PM |