Make banks pay taxes on foreclosed properties
To the editor:
The national and local economies have been struggling for many months now. Folks are losing their jobs. Folks are losing their homes. Spending is down. Tax revenue for local governments has fallen.
The federal government gave many billions of tax dollars to the banking industry. I presume this was to help save the banks and for the banks to help save the homeowners. Only one of those two things occurred: The banks got saved. The homeowners have gotten nothing but hand-wringing or suggestions from their lenders to stop making their mortgage payments so they can appear needy.
Government bodies are struggling to meet their budgets, even with massive cuts, personnel layoffs and worker pay being reduced. Property tax revenues are much lower than expected. Many homes once occupied by taxpaying owners are now foreclosed and vacant.
Is there some valid reason why the banks are not required to pay property taxes on the foreclosed homes? They are the true owners, aren't they? Why are the taxes deferred until the home is sold? Why should the eventual new owner be responsible for the back taxes that the bank didn't pay?
If the banks were required to continue making the property tax payments, it just might encourage them to work with homeowners on the verge of default. If the banks know their money would be coming out-of-pocket to pay property taxes, they might start using some of that taxpayer money to help homeowners keep their homes and restructure the loans.
Our lawmakers in Carson City spent an awful lot of time in the past two sessions dealing with legislation on mortgage mediations. The banking industry has a very powerful lobby and, interestingly enough, has plenty of taxpayer money to spend in lobbying our lawmakers.
Bradley Nickell
Henderson
Let the market work
To the editor:
The Wednesday Review-Journal article, "Airport sets limo limit," states McCarran International Airport chief Randy "Walker has long favored generally limiting the number of concessions to what the airport's data show can remain profitable."
This is exactly what is wrong with our economy. When competition is eliminated or reduced by any kind of restrictions, capitalism will not work. If the businesses cannot operate profitably because there are too many, the least efficient will go out of business and the remaining businesses will be profitable.
When competition is eliminated arbitrarily, however, the public may received less efficient services or products.
Leave the situation the way it is and, if there are too many limo operators for all to be profitable, some will close -- which will eliminate the problem.
Tom Jones
Las Vegas
Track record
To the editor:
In response to the Tuesday commentary by Susan Estrich on GOP presidential candidate Michele Bachmann:
Ms. Estrich is a true Democratic activist. Arguing (hoping) that Rep. Bachmann isn't accomplished at anything, she hypes Republican candidates such as Newt Gingrich, Mitt Romney, John Hunstman and Tim Pawlenty, hoping they will lead the Republican faithful to a losing showdown next year. It's the same way the Democrats promoted John McCain -- a sure loser.
The tea party, which is so much stronger than most Republicans realize and which the Democrats silently fear, embraced Rep. Bachmann, Sarah Palin, Gov. Rick Perry from Texas and Gov. Chris Christie from New Jersey. We will see Ms. Estrich this coming year doing the usual one-sided vitriol while she tells us that "Obama has serious credentials from his years in the (U.S.) Senate and before that, in the Illinois Senate."
She spouted her insight and foresight before, while predicting that Al Gore would win, that Hillary would win and -- under her lead -- that Mike Dukakis would win. Sorry, she has a terrible track record.
Barclay Wilson
Las Vegas
Speaking out
To the editor:
My heartfelt thanks to Sherman Frederick for his insightful Sunday column, "The president's horrifying mistake."
Has the president (with his sycophants) issued so many of the nation's highest military honors that he cannot accurately discern to whom and when these great honors were given? Thank goodness the obvious answer to this is no. To "misspeak" when only two people are being confused is disgraceful.
Another show of "leadership" occurred after the horrifying massacre at Fort Hood in Texas, where more than a dozen were killed and 30 of the finest our nation has to offer were wounded. Nidal Malik Hasan, a deranged Islamist extremist who should never have been allowed to even touch a military uniform, let alone become a major, was charged with this horrible deed after shouting "Allahu Akbar" (God is great). One of the worries of the former Army chief of staff in speaking of the incident was the negative impact this horrible event would have on his "diversity program" and how it might adversely impact other U.S. Muslim military personnel. Really? This PC nonsense is helping neither our fine military nor our nation. Time to face the truth. We need more people like Sherman Frederick to speak out.
AL CIRICILLO
LAS VEGAS
