To the Editor:

I was stunned to see the school board's recent approval of the contracts at the rates reported.

How can town officials sign-long term contracts at levels of increases significantly above the rate of inflation?

According to the BLS [Bureau of Labor Statistics], our government reports the recent inflation rates in the country as 2010-1.5 percent, 2011-3.0 percent, 2012-1.7 percent, 2013-1.5 percent, and 2014 was only 0.8 percent.

Newtown is blessed with a wealthy population, and this is not meant to be a discussion on the pay of the teachers and staff. Rather a discussion is needed to control the rate of increases that elected officials sign, then leave taxpayers holding the liability on the debt.

According to the figures released by the 2013 American Community Survey for Connecticut, Newtown has 9,518 households and the report shows our median income is $109,159, the mean income is $138,976 while the per capita income is $48,433.

There are 189 towns reporting and Newtown is 30th in per capita, and 21st in average and median income levels.

My wife and I work in two different industries in the private sector, a large multi-national, and a smaller manufacturing firm.

Our increases have been held to 0-1 percent for the last two years, and the immediate future shows little signs of improvement with worldwide pricing competition, many private firms are under the financial squeeze of lower priced overseas competition thereby limiting wage growth.

I've read many reports showing flat income levels in the United States, income growth was rampant during the booming 90s, but has been held mostly in check for many years since.

So while the town residents keeps approving the budget it would seem all is well, maybe our situation is unusual.

However, I would ask those other taxpayers that are not in the top 30 percent of income earned, how many of you actually see these levels of cost of living increases at this time? If your job isn't providing these same levels of increases in your salary, how will you manage when your tax bill goes up accordingly?

In my opinion, the amount of increases in these contracts represent a coming unfair burden on the taxpayer, and an indication those involved don't understand compounding of interest. I just can't imagine how much more of my budget I'll have to send to the tax collector in the coming years.

We love Newtown, but we won't be able to retire here.

Sincerely,

Keith Thompson

20 Mount Nebo Road, Newtown     December 7, 2015