This is in response to the letter written by Michael Gagne (Aug. 18) about the bond issues. I believe that the $40 million bond issue is a very bad idea because:

Over a 10-year period, we will be paying back with our tax dollars over 31 percent interest, and that comes to over $12 million in interest to make the total more than $52 million out of our pockets in taxes.

The $80 million that Gagne mentions comes from us as we support the federal government with our tax dollars. If my information is correct, that we do not have a surplus but have a deficit, that would add to that deficit. If anyone has exhausted their credit card limits would they or should they keep on spending? I don’t think so.

Elected officials should be watching the outflow of our tax dollars instead of finding new ways to collect more of our dollars in the form of taxes. I believe that is why the tax cap will be on the ballot.

William A. Ferentz, Lewiston