Monday, May 30, 2011

How can New Orleans and Louisiana pay the tens of millions of dollars in annual maintenance on it's new 100-year storm reduction system?

In the NOLA.com article,
Hurricane surge-reduction system maintenance will be costly, for someone. Mark Schleifstein - The Times-Picayune - Monday, May 30, 2011
it is estimated that
Soon, they'll also have to figure out whether taxpayers are willing to foot the additional costs, which could be as much as $38 million a year -- more than half the combined budgets of the eight local levee agencies.
Plus,
"And that doesn't include some of the things that aren't on the perimeter," said Bob Turner, executive director of the Southeast Louisiana Flood Protection Authority-East. "It doesn't include internal levees. It doesn't include the pump stations and drainage canals in St. Bernard. And it doesn't include Mississippi River levee operation and maintenance increases, either."
THE COST
Thirty-Eight MILLION dollars per YEAR!!! (and counting...)

FESTIVALS
Well, NO PROBLEM. With festivals like the New Orleans Jazz and Heritage Festival, these events bring in hundreds of millions of dollars in economic impact. Right?
Landrieu said the festival puts 800 businesses to work, in addition to the 500 musicians on tap to entertain the crowds. “That’s a $300- to $350 million economic impact on the city of New Orleans,” he said. - Jazz Fest officials gear up for 2011 celebration - Daily Comet - Thursday, March 31, 2011 - By CHEVEL JOHNSON - Associated Press
Then you add in all the other events like Mardi Gras, French Quarter Fest, etc., New Orleans and Louisiana can easily foot the bill for 40 million a year. Right???

ECONOMIC IMPACT
Just search for like "new orleans jazz fest economic impact" or "new orleans mardi gras economic impact", etc.

GAMBLING
Plus, why not look at all the monthly winnings from the riverboat casinos and the land based casino in New Orleans. Just Google for something like, "Louisiana monthly casino gambling revenues". And don't forget the lottery! Make sure you get the revenues for that. In 2009, it was 300 million! LINK: Louisiana Lotto Yearly Revenues

ALCOHOL TAX REVENUES
And, of course, all that tax revenue generating alcohol on Bourbon Street, 24 hours / 7 days / 365 days a year. Definitely, don't forget all that alcohol tax revenue!

VIDEO POKER
And also video poker!!! -- And let me tell you, New Orleans has lots and lots of low income service workers who play those video poker machines. In fact, most of New Orleans is hovering around or below the poverty line. And it is one of the (if not, the most) poorest cities in America. The New Orleans poor really take advantage of those video poker machines and make it a routine weekly habit of buying lottery tickets to the Louisiana Lotto!! The revenues from those video pokers machines plus those minimum wage service industry workers can easily pay for the annual hurricane storm reduction system of 40 million plus.

TALK BIG NUMBERS
You know how all these cities with gambling and lotteries are. The always talk big numbers. Millions of dollars for education, of course! (Got to put a positive spin on a state with some of the lowest graduation numbers 8% SUNO and 15% UNO in the nation, the worst public school system in America (New Orleans Public Schools) and probably the highest illiteracy rate in the nation next to Mississippi. And if you think this education system produces a great number of addicted gamblers to pay for this levee system, you would be right!)

THE HIGHER the ADDICTION, THE MORE CONSISTENT THE REVENUE STREAM
And did I mention that Louisiana has the highest gambling addiction in North America
"(the low was 22.6 percent, the high was 41.2 percent in Louisiana)."
What does this mean? Addicted gamblers mean a "consistent" revenue stream, year in, and year out, to pay for levee and storm reduction maintenance. Woo Hoo!!!
LINK: Profits from Gambling Addicts

TREMENDOUS FORESIGHT BY LOUISIANA POLITICIANS
Now, you ought to give a hand (and don't forget, in the other hand a stuffed envelope full of cash) to all those legislators in Baton Rouge, Louisiana, the state capital. They really knew what they were doing decades ago when they spent every single day (for years) to pass gambling, starting with the lottery. And thank goodness, a significant percentage of these legislators have a personal financial interest in gambling as their vested financial interest in these gambling businesses has been proven very effective. It makes a difference when the owner are there.

Plus, while it took decades to accomplish, they got rid of virtually all of the other productive, and higher paying legitimate and non-gambling businesses to leave only the poor paying service and tourism businesses. In fact, New Orleans has essentially zero Fortune 500 companies, and Louisiana has only like maybe 3 or 4 Fortune 1000 companies left to get rid of. They will, for the foreseeable future, have a constant and reliable revenue stream of addicted gamblers from the low paying service industry, which by the way, attracts even more poor low paid workers from neighboring states. (Gambling, the gift that keeps on giving!)

Finally, as you can see, Louisiana can easily pay for this yearly maintenance fee for the levees and 100-year storm reduction system the Army Corp of Engineers as built for Orleans and Jefferson parish.

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