Penny tax hike is 1 percent
11/17/2012 4:00 PM
11/16/2012 2:42 PM
Re Nov. 13 letter by David Blakeslee, “Tax increase is not a penny”
Taxes are quantified as the percentage of a dollar. There are 100 pennies in a dollar. A 6 percent tax is six pennies on the dollar. A 7 percent tax is 7 cents. The increase is one penny (1 percentage point).
And the tax money goes to the government, not to the “richest business owners in the area.”
The businessman drives the economy. The government drains the economy.
The writer lives in Little River.
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