There is a curious idea in the June 4 letter titled, “Failure to rezone property costing Cobb school.” It is stated in this letter that rezoning one 20-acre tract of land for an “upscale farmers market” would bring in an estimated $20 million a year in tax revenue and that over a decade this one commercial development would “generate $200 million in new taxes for our schools.”
$200 million in taxes? Who do you think would pay those taxes? It’s the purchasers of products that would be sold at the upscale farmers market. Business owners simply add a charge on their products and services to cover the taxes they must pay. In this case, that means $200 million less that people would have to spend on products, services, savings and investments.
I thought government was meant to serve us, not that we and our properties are here to serve government and “generate new taxes.”
If you were wondering why so many people are broke and cannot afford to enjoy a secure retirement, now you know.