Every once in a while the Chronicle publishes a letter to the editor that makes one wonder if Judy Minshew went on vacation. Today’s an example:
There were two interesting articles in the Aug. 9 Chronicle. The first one, on Page One [“Can Bush sell the nation on prosperous economy? / Challenges for president include gas prices, rising health care costs and wartime jitters”] was about the economy.
This article said that economists are arguing that a large swath of the population has seen its “wages grow by only 2.7 percent, barely enough to keep up with inflation.”
The second article, in the Business section, was about home prices [“Home prices outpace wages / Study uncovers trouble in markets across the country”]. It said that housing prices are “far outstripping salary increases for low- and moderate-income jobs.”
Considering this information, what is the justification for appraised property values to increase by as much as 10 percent per year?
These unjustified tax increases are fueling inflation, and making it even tougher for families to survive — much less own a home.
The Chronicle should survey the rest of the state’s large-city newspapers and start asking the questions.
Why are local governments entitled to such unprecedented revenue growth every year, when the rest of the economy — especially wages — is growing at a much slower rate?
Maybe if people get mad enough, they’ll push our legislators to change the 10 percent per year law.
STEVE FRENCH Baytown
