OCR Text |
Show PAGE 14 THE ZEPHYRNOVEMBER 89 of their meager funds for such speculative purposes? These disadvantaged people would be forced to play the rich man's speculative game whether they wanted to or not Indeed, even now, these sales taxes should be refunded to them and they should be spared sales taxes on a number of Items. Though there Is no guarantee Utah will get the Games, the proponents are asking grandpa and grandma to help them out even though money hard to come In the front door by for them. It would be better If these promoters would come to beg directly as was done during the depression days, "Brother, can you spare a dime?" I'm sure they'd get an honest answer. These promoters must not be with our Incomes low, and allowed to tap Into sales tax funds. With taxes sky-hig- h, and our rural areas impoverished unemployment high, and our needs many, we cannot afford such speculative extravagance. Let us look at how speculative this Is. There have been a number of Olympic promotional failures. It Is reported that Lake Placid had horrendous losses of some site at Squaw Valley $600,000 to $800,000 annually. The expensive costs at $1.2 million per year remains unused. The speed-skati- ng Calgary facility Income to operate, but generates only some $270,00 annually. Residents of Lake Placid took 25 years to pay off their debts. Lake Placids recent Olympics would have been a financial disaster had not $123 million from federal and state sources been used to prop them up. The Olympics In Calgary required an additional $400 mNlion of federal, provincial and city funds. The Montreal Olympics left them with a $1.02 billion deficit to be paid off over a 30 year period after the Games were over. This is obviously very speculative and a huge gamble. The question Is clear: shall the state gamble our public funds when history itself tells us Itself to stay away from it? The answer is also clear: we should not place possible deficits on future taxpayers by underwriting such speculative ventures. Well, in spite of the overwhelming speculative nature of this, we are constantly told it is a good investment If it Is such a good Investment, then why isnt private capital sought rather than public? The Los Angeles Summer Games were financed entirely by private capital when the Los Angeles City Council denied the use of public funds and guarantees. There are many ways to privately sponsor the Olympics: television contracts, private borrowing, corporate sponsorship, issuance of stock, advance sale of seating, private gifts and contributions, and a myriad of other ways. Regrettably there has been some consideration given to raising the rate of transient room taxes which are paid by the touring and traveling public. This would have a dampening effect on the tourist industry now being generated.. And to use transient room taxes, even without a raise, would siphon off funds from local rural entities. But the crux of the whole thing is that If private means cannot wholly fund the Olympics, then why Indeed should the public? Should Utah get the Olympics, and should the Games be a financial failure, you can be sure the promoters will be asking for more aid in covering any losses. Utah cannot afford this. If private let It gol enterprise cannot swing this, we should do as Colorado has done When the Legislature provided for the referendum, the public was left out In not being allowed sufficient time to discuss alternatives and to debate the Issues. The hour is now late. We should respond by voting "no on November 7th. ski-jump- around the bend by ken sleight We have another development scheme before us. Utah taxpayers, urban and rural, are being asked to spend some $56 million from sales tax revenue to construct winter sports facilities for the Olympic bid. The funds would be used to oval and a bobsledluge course. (Few of us speed-skati- ng build a ski-jumakes this thing risky is that the construction But what in these sports.) indulge of these facilities must begin six months before it is even decided whether or not Utah will get the Olympic bid. (It's like paying for a house and not knowing whether you can take possession of it. It is conceivable that we would build the Olympic facilities just to see them sit idle as the Great Salt Lake pumping facility remains idle. White elephants all. The organizers' plan is to pay back the $56 million from the gross revenues and profits the Games would generate. If the Olympics doesn't make money, the taxpayers are out their money. It would be totally lost to more worth-wh- ile endeavors: such as purchasing school books for our kids, building a school to ed alleviate classrooms, paying our teachers a higher salary, building small-toour rural and Infrastructures, and even to promoting our own local up areas. Indeed if all $56 million were to be spent by the Utah Travel Council In directly promoting the states attractions, we would be deluged by so many visitors that our present infrastructures could not possibly handle them. So does it not indicate to us that we ought to build up our local Infrastructures first? Rural areas have a rough time accounting for uses of tax money for the winter Olympics. Our needs far outweigh the need to contribute to the construction of Olympic facilities in the Salt Lake City metro area. And let's put this on a more Individual and personal level. The proponents of this Olympic project would divert sales tax monies that were paid by those who can most ill afford this luxury: the disadvantaged, the poor, the elderly, the unemployed and retired. These are the people who pay a disproportionate share of their income already to sales taxes. Why should the state now condone the use mp, over-crowd- wn JERRY WALKER ing a r GREAT PLACES! GREAT PRICES! for CITY COUNCIL i 310 33- 337- 2345 RESIDENTIAL Last of the little guys! 3 bedroom, brick, good location. $25,000. Fix it up-R- eap the benefits. 3 bedroom, 1 bath, Make offer. Assumable loan, low down, 3 bedroom, 2 bath with country feel. 4 bedroom, 2 bath, fireplace in family room, located on quiet d street. $61,900. Brick, 4 bedroom, den, open kitchen, large lot, double carport. $65,000. Two story home with side spartment. 2 carports. tree-line- 307 299 $69,900. LAND, ACREAGE, HOMESITES 22-4- 2.9 acre building site, beautiful views. Utilities 364 259 available. $15,000. Secluded, 10 acres. Spring, septic, power. $25,000. 20.3 acres at base of LaSals. Peace and quiet abounds. $30,000. I self-sufficie- nt . yn.xL$y.v. s, "Lets put consistency r .. v ' . i 259-502- 1 Quality Realty 59 S. Main Western Plaza 4 Moab, Ut 84532 back in government VOTE ON NOV. 7 Put your trust in Number One: a paid political advertisement Equal Housing Opportunity Z25ZS g EACH OFFICE IS INDEPENDENTLY OWNED AND OPERATED |