We covered a few Lampasas growth basics in Part I. Now let’s dive into the article a bit.
According to The Dispatch: “Mandy Love Walsh…said in an email that sales tax is one sign of economic growth. The City is at a 21% year-to-date increase in sales tax“
I hope this isn’t the number that Mandy and the LEDC hang their hats on as “proof” they are an indispensable group of geniuses we should thank for all new businesses in town. You know what else makes sales tax collections shoot up? Inflation.
If the cost of everything goes up 10% in a year, you are going to collect 10% more sales tax, ceteris paribus. If you sold a million gallons of gas in both years but the price doubled – well, your sales taxes are going to increase quite a bit. This has nothing to do with “growth”.
Many other cities around us are ALSO seeing huge double-digit sales-tax receipt increases (Goldthwaite, San Saba, etc) – and Mandy Walsh doesn’t work in any of those towns. Gee – how did they manage it??
The increase could further be explained by having a moron in the White House printing money out of thin air and handing it out to everyone – which is what we have seen over the last year or more. This is also not “growth” and the bill will come due eventually – as is already happening with supply chain issues, labor shortages and more inflation.
Ergo, the fact that sales tax receipts are up 21% over last year does NOT prove that we grew 21% and it certainly doesn’t prove that any growth was due to the LEDC or Mandy Walsh. All it means is a lot of dummies are smartening up and moving from shitty lib states and big cities and infesting small rural towns – and that the cost of everything is skyrocketing.
The Federal Reserve has printed and the federal government has spent TRILLIONS in fiat currency over the last 18 months. It is an experiment in money printing that is unmatched in all of human history. It is an artificial sugar high and not true organic growth. Lampasas is just another boat being lifted by this tide. It has nothing to do with the LEDC or Mandy Walsh.
Part III coming soon…