Las Vegas Now Wants Taxpayer Subsidies!

Las Vegas Sands owner, Sheldon Adelson, is criticizing President Obama for railing on bankers for holding meeting in Las Vegas.  Adelson, who not too long ago was once one of the wealthiest Americans, at least while his Las Vegas Sands enterprise was enjoying a sky high ride on the stock market.  Adelson's fortune is tied to the Las Vegas roller coaster.  The company's stock sold at one point for about $140 per share.  Today it is going for about $2.30 per share.  

Las Vegas is one of the most popular destinations for conventions and meetings.  Adelson played no small part in transforming the town from a mob-run laundering operation into the premier destination for meetings and conferences.  In fact, in terms of meeting space, Vegas can't be topped.  Only Orlando gives it a run for the meeting money.   When the economy causes businesses to tighten their belts it is understandable why attendance at meetings, conferences and conventions are cut back.  Las Vegas, like Orlando, is suffering from the poor economy.

The real question is whether taxpayers should subsidize lavish meetings and conferences.  Obama, understandably, does not want bankers who receive taxpayer funds to pay for lavish conferences and meetings.  We expect government funded groups to behave responsibly.  Adelson needs to understand that the taxpayers can't subsidize Las Vegas.  On the other hand, the government should not be in the business of playing favorites and moving meetings from Las Vegas to Obama's hometown of Chicago for example.  

The bottom line is that bonuses and conventions are not the type of spending that taxpayer subsidies should be used for.  If these bankers can afford a conference or bonus, they shouldn't be receiving our money.