Thursday, April 16, 2009

Times Are Tough In Vegas

Today I read that several malls in Las Vegas are filling for Chapter 11 reorganization. I have not mall - walked for a while, but I imagine there is plenty of room at the malls to walk and I would not have to worry about the crowds slowing my walking gate. So, the government sends a very mixed message when it says "spend more" and "pay more taxes". I am still trying to reconcile these mixed messages. Now I am happy just to ignore them. Helps to be on strong meds, if only I could afford them! :-)

Whew! I was afraid that Nevada's two billion dollar shortfall would be covered by the low rollers. But it looks like the state's mining industry may come to the rescue. If so, I will not have to worry anymore about paying a consumption tax when I turn in my chips at the casino cage. :-) Although those casinos who are on the brink of failure can not reduce their profit margins forever. Hotel rates, show prices, restaurant prices, etc., continue to drop, but just to maintain the status quo of visitors. They can't get more visitors short of giving money away. Well, come to think of it, I'm all for that. Gamblers need a bailout, too! :-)

It is a shame that most of the Nevada stimulus package is going to extend the unemployment benefits. What happens when new jobs are not created as promised, and the unemployment runs out. Money lost forever --- when a better plan would be to help create new small businesses ( Uh, tax breaks would be a good first step ) which would do more to create new jobs than any government program could.

ABC News --- Foreclosure at the Mall: General Growth Files for Chapter 11

Special Discounts For Vegas Locals

To make up for current lost revenues from tourism, a new website offers special discounts for locals. Discounts on hotel rooms, restaurant meals, spas, and clubs are offered: sponsored by the Las Vegas Convention and Visitors Authority and the Las Vegas Chamber of Commerce.


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