The Way I See ItBy cj pollickLocal Elections - Tuesday, March 9th, is Election Day in many local communities. The bottom line is, if you are satisfied with the way in which your tax dollars are being spent vote for the incumbents. If unhappy and would like new creative ideas and change to the status quo, vote for someone new. Remains to be seen how many eligible voters actually turn out to cast their vote. Say goodbye to Saturday delivery - Apparently just a matter of time till the U.S. Postal Service eliminates mail delivery on Saturdays. Loss of revenue is the culprit! If Sand Key Could Merge - There are folks on Clearwater Sand Key that would like to form a separate and distinct city from the City of Clearwater. They believe that their needs and use of city funds are different than the rest of Clearwater and perhaps better relate to places such as Belleair Beach and Indian Rocks Beach. Time will tell if Sand Key has the opportunity to separate from Clearwater. However, imagine if Sand Key could join Belleair Beach as one "beach" city. They share a common beach, roadway system, electric and gas system, etc., etc. Makes sense if you think about sharing common ground and citizen interests. In fact, several of the smaller beachfront communities could join to form one larger city with many common interests. Those beach cities could cut expenses, cut taxes, and eliminate duplication of "city-run" administrative expenses, etc. The chances of such a thing happening? Near zero. Why? Ego and politics. Belleview Biltmore Prevails - Owners of the Belleview Biltmore have prevailed in the recent legal tussle over construction of a hotel/condo project at the former Cabana Club location on Sand Key. The court's decision could, however, be appealed. Thus, it is only a matter of time before the Biltmore owners may develop their properties. Will the development begin after 30 days? Homeowners In Trouble - When you examine the growing number of homeowners in financial trouble due to mortgage loans that are higher in value than the properties the loans are "tied to," then it comes as no surprise that the rate of mortgage default is increasing. MSN Money recently had an article that stated Florida was second, only after Nevada, in number of homeowners "underwater" due to mortgage loans higher than current values of homes. 70% of homeowners in Nevada are in trouble, about 52% in Florida and about 40% in Michigan and 35% in California. Not a good picture. How many homes does this represent? About 11.3 million of residential properties or 24% of all properties with mortgages. An amazing number. When do homeowner defaults generally begin? When loan values are $70,000 higher than property values. Over 2 million homeowners are in trouble in Florida, same for California. How will this trend affect loan portfolios of local banks? Many banks are trying to increase capital and "write down" problem mortgages. However, and if smaller banks have problem loan values, this financial trend could spell doom. Perhaps that is why government and banking experts predict that there will be more bank failures in 2010. How do you know if your bank is in good financial shape? Look online at bank rating firms. Dems Say "We Will Go Alone" To Push Through Health Care Bill - Democrat leaders in Washington have recently stated they will push the health care bill through Congress without any Republican support and regardless of sentiments of the public. House Speaker Nancy Pelosi believes she can obtain enough support from moderate Democrats in Congress to pass the controversial federal health care bill regardless of public sentiment. Interestingly, over 60% of Americans do not support a federal health care bill where the government in Washington obtains more power and control over health care. Not one national poll favors the proposed healthcare agenda of House Speaker Pelosi. Perhaps what might affect some of the more moderate Democrats in Washington are their chances of re-election in moderate/conservative voting districts. With over 60% of voters against a new federal health care bill, chances of re-election for many Democrats could be in jeopardy if they support Speaker Pelosi's proposal. Tough choices for many of those incumbents. Citizens are concerned about the manner in which the government plans to tax businesses and high earners for five years before the actual federal insurance benefit would begin. Increasing or adding taxes for five years before any insurance benefit to the public is not something that is attractive to voters. However, using a pre-funded tax strategy is the only way supporters of the Bill could show the financial ability of the idea to pay for the future benefit. Is there support for a revamped health care system in America? Yes, most people want changes that would lower, not increase, health premiums. Citizens want portability of insurance and elimination of pre-existing condition restrictions used by current insurers. People also want to be able to buy insurance across state lines if another state's premium rates for insurance benefits are better. Citizens will support restrictions on health insurers, but they do not want to kill the current private health care system just to provide some health care solutions. Americans support having the best health care delivery system in the world...and are fearful of allowing the federal government run health care like other federal programs. Can Speaker Pelosi prevail in Congress? Time will tell. "At some point excessive taxation becomes theft" |