First, was an article on Las Vegas near the bottom or the national retail index. It says that soft job growth and weakness in the houseing market are at fault. Who could have guessed?
Then, there was a commentary about "What keeps us here?" It discusses a survery.
When the survey was released last week, reporters quickly seized on the results from this question: If you could live anywhere you want, where would you want to live? Forty percent of respondents said they would move out of Nevada altogether. Five percent would leave the Las Vegas Valley for another location in Nevada.
Why did they move here in the first place? They wanted the low taxes, inexpensive homes, the job opportunities, the affordable cost of living, and the freedom.
Then there was another article about casinos in financial trouble. It was about Hooters Hotel and had a quote from the owner that said, there is "substantial doubt about our ability to continue as a going concern." The articla also mentioned 3 other casino companies that were in financial trouble. They were Herbst Gaming Inc., Tropicana Entertainment, Inc., and Resorts LVH Acqwuisitions.
As you know there are several other casino companies with financial problems. Of course, the economy is the number one problem, but I think that we also have to look at the changes that have occurred in the last 20 or 30 years.
Our Nevada taxes have been steadily increasing which affects the cost of living. The costs to businesses have increased as the legislature passed more and more restictive and costly legislation. The casinos have increased the room rates, show prices, food prices, and the take on the gambling.
All these changes have contributed to our economic problems. They have contributed to the reduced standard of living of Nevadians, they have contributed to the reduced income from tourism, they have contributed the lack on new businesses moving here, and they have contributed to the fact that Nevada is suffering from this depression more than most states.
It is time to reduce taxes and eliminate government restictions on businesses. We have to make Nevada, once again, the place to live, the place to do business, and the place to raise and educate your children.