Cost of living neverending nightmare
HERE’S A look at the everincreasing cost of living in New Mexico from the perspective of those of us trying to survive on Social Security. And by the way, over this past two years, Social Security, adjusted for inflation, has increased just slightly more than zero percent.
That said, several years back, our New Mexico state Legislature passed a bill to allow counties to increase our property taxes by up to 3 percent each year to adjust for inflation. Since that time my property taxes, and I suspect most everyone else’s in Bernalillo County, have gone up, like clockwork, no less than 3 percent per year. On the other hand, since 2010, the national inflation rate has held at an average of less than 1.7 percent per year. So what, pray tell, has our county been doing with all that extra money — that other 1.3 percent? And why does (it) keep asking for more?
Did anyone notice that just this past week the (County Commission) increased our Gross Receipts Tax rate by 0.1875 percent — no vote required, thanks again to our state Legislature. As a result, the new GRT for Albuquerque will be exactly 7.5 percent. And by the way, coincidently, starting this week, internet stores like Amazon.com started collecting from New Mexicans 7.5 percent on each sale. … More taxes yet. Once our Legislature and governor finally come to the realization that you can cut just so much before real pain sets in, they’ll have no choice but to agree to increase various taxes at the state level. This deficit is real — gotta do something.
And finally, as we’ve all seen, the White House has announced that big federal tax cuts are just around the corner. For those of us who have been around for a while, all that means is that the federal government will have less money to work with, and thus much of what the feds currently pay out to state and local governments will soon dry up. And of course, we all know where the state will get the money to cover those losses? More taxes yet.
Again, for those of us trying to survive on a monthly Social Security check, this whole scenario is becoming one big never-ending nightmare. KENNETH COOPER Albuquerque