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December 2, 2009

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Letter: Rainy day fund must be built up

Thursday, Dec. 16, 2004 | 9:08 a.m.

State Sen. Bob Beers wants to give back excess tax collections. Nice gesture, but what excess? Here in Nevada we have a rainy day fund. That fund, something like $130 million when fully funded, isn't even a scattered showers fund. Just one terrorist attack in this wide open, two-industry town (gaming and construction), and we've got a cloudburst!

A $500 million cushion would be more like it. Remember the effect of 9/11, the attack that occurred more than 2,000 miles away? We would need several years to fully recover from any new terrorist attack here or elsewhere in America.

Should there be any surplus taxes, after increasing the rainy day fund, then think about more interesting ways to distribute a tax surplus. Sales tax-free days come to mind. Better value for the consumer and increased sales for business.

RICHARD RYCHTARIK

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