Letters to the Editor July 31
Your recent headlines in the business section have clearly underlined the issues within this country. Our current deficit is at 60 percent of the Gross Domestic Product. At the end of World War II, it was 120 percent.
Going into the Eisenhower era, there was a tax in excess of 70 percent on earnings over $200,000 and a tax on excess corporate profits that kept people employed until its demise.
With corporate profits at their highest rate, and the top 5 percent of incomes doing little to create jobs with the Bush tax cuts, the fixes seem easy: Learn from what we have done in the past, stop the fear-mongering and fabrications, raise the Social Security level from $104,000 to $1 million. Stop the tax level for financial managers, 15 percent, so that their tax bracket matches what similar incomes pay.
Stop the corporate welfare system that is reporting profits in the billions while receiving as much in tax deductions, and begin to catch us up to the rest of the Western, and to some extent, Eastern world.
Invest in our future with items like high-speed rail and environmental advances.
Mark Cuban put it right – if we can be willing to put our life on the line for war, why can’t we simply say let’s raise taxes as well? Based on Presidents Clinton, Reagan and on back, it would appear to be the American thing to do.
I am a frustrated tradesman. I have worked in the construction field for the last 20 years in the Reno area. What I am seeing today in this market is a lot of out-of-area contractors picking up a number of projects. Just a couple of years ago, these projects would have gone to a local contractor who would have hired local workers, who contribute back to the local economy many times over.
For the Meadowood Mall interchange, an out-of-area general contractor brought out-of-area workers. A large retail outlet off Lemmon Valley Road went to an out-of-state general contractor who has hired subcontractors as far away as Texas and Las Vegas to perform work, bringing their work force with them. Another example is a large home-improvement store coming to Legends at the Sparks Marina, which has an out-of-state general contractor who, in turn, is hiring out-of-state subcontractors.
I think everyone, including local elected officials, should be promoting local contractors with local workers being put back to work to help our economy recover quicker.
I grew up the old-fashioned way. The simple method – negative against positive. The positive way is here and now. Sales are down; citizens of Carson are losing their homes and jobs. Home values are down, and no recovery is in sight. They’re having trouble paying bills, and their savings have been depleted.
Building an $80 million City Center project and possibly losing, someone will have to pay. Carson City residents could get stuck with a big debt of taxes to solve the problem. Who is going to make sure there is no money going for million-dollar bonuses or gratuity?
Common sense can go a long way. We need help, not big debt.
Everybody should call the mayor and supervisors. They have the same number in the book. Ask what will happen if the economy gets worse. Just maybe they’ll give you an honest answer.