Las Vegas Sun

November 28, 2014

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Letter to the editor:

Bond idea for schools could backfire

Two letters to the editor last month suggested Nevada should issue a “Hope Bond” to provide additional money for education.

Although that would provide money for today, the state would have to borrow more in the future to pay interest on the bonds as well as repay the principal amount of the bonds at maturity. This idea would just put the state deeper in debt.

Besides, what would prevent our politicians from reducing current levels of education spending equal to the funding raised from Hope Bonds? The answer is nothing. This is exactly what Colorado did in the 1980s with lottery money for education and other specified uses.

If we want to help education, we should give our time and money directly to local schools. We should keep it out of the hands of politicians and bureaucrats as much as we can.

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  1. At least with the lottery there would be a slight chance that you might get some value for your money as opposed to raising taxes.

  2. What is it, about Nevada, that it is so impossible to have a LOTTERY?

    Could it be that people have had a trust issue with the funds generated from such a lottery not going to its intended benefactor--education?

    What can be done to change systems/language/policies/laws, so that when the good People of Nevada are asking for a STATE LOTTERY, one can finally be enacted?

    This question has been going on for as long as I can remember now. GEZ!

  3. There are two things that could help, if not solve, our education funding problem: Remove the restrictions from our state constitution that prevents placing mining on the same tax footing as others and also allow us to have a state lottery.

    Of course, no amount of funding will be adequate if it is not spent wisely.