Lies, Damn Lies, and Tax Rates
What to Know: Some local governments are hyping their newly lowered tax rates. But don’t be fooled: Reduced rates don’t necessarily mean smaller tax bills.
The TPPF Take: Your tax bill is the product of an entity’s tax rate multiplied by your property value (less exemptions). As one variable goes up, the other must naturally come down lest taxpayers face financial ruin.
“Local governments looking to impress taxpayers should focus less on what their tax rate is and more on what a property owner’s tax bill will be,” says TPPF’s James Quintero. “The amount that comes out of a taxpayer’s pocket is the real measure of good government.”
For more on efficiency audits, click here.
Social Media Dangers
What to Know: Even the newspaper in California’s capital city of Sacramento is warning of the dangers of social media to children—and it’s calling for legislation to mitigate the harms.
The TPPF Take: There are countless tragic stories about the destructive harms of social media.
“Texas should be the national leader on the issue of child online safety by taking the bold step of banning social media use by minors,” says TPPF’s Zach Whiting. “States place age-restrictions on numerous behaviors, such as driving, voting, smoking, drinking, and entering into a valid contract, among other things. This proposal would recognize social media as a prohibited harm to minors.”
For more on social media, click here.
Historic, But Not in a Way We’ll Like
What to Know: According to Politico, the “historic climate bill” will “supercharge clean energy industry.”
The TPPF Take: Oh, the misnamed “Inflation Reduction Act” is historic, all right. Historically bad.
“Perhaps Congress should have first asked the Germans how their transition — known there as “Energiewende” — is working out,” says TPPF’s Chuck DeVore. “With German power prices soaring even before Russia invaded Ukraine, Germans are increasingly turning back the clock to coal and, in some cases, even further back to wood.”
For more on the Inflation Reduction Act, click here.