It Doesn’t Add up to Incorporate Olympic Valley Read more

It Doesn’t Add up to Incorporate Olympic Valley

In a recent article published in the Sacramento Business Journal, the merits of incorporation for the small Olympic Valley community were found lacking. The Olympic Winter games were held in this beautiful valley but unfortunately, though an amazing claim to fame, it doesn’t support a city. A financial analysis by the Placar County Local Agency Formation Commission states that a city would be unable to be supported by such a small permanent population. The permenant population of Olympic Valley is less than 1000 people. RSG a land use firm hired by the commission for the analysis indicates that incorporation isn’t feasible.

The main revenue source of the town would be gained from hotel fees from tourists. The flux and seasonality of tourism would not provide a steady and reliable source of income. In fact, the prediction is that is if incorporated in the next year the deficit would be as much as $1.8 million by 2017-18, not a good way to start off a new city. This plan already includes a limited number of city employees as well as contracting many services out to the county. Alternative plans are being considered that more closely model the current structure of the community with the county. Unfortunately for incorporation supporters they have not been found to be sustainable either.
The push for incorporation was started by some residents a few years ago when a large hotel project was proposed by Squaw Valley CEO Andy Wirth, who you may have seen on the CBS show Undercover Boss. The hope was that incorporation would give the community members more say in these types of projects. Some of those opposed to the incorporation have formed a group called Save Our Valley. This group hopes the financial analysis will help all residents to see what is in the best interest of all the members of the community and their scenic home.
More Americans Are Renouncing Their Citizenship Than Ever Before Read more

More Americans Are Renouncing Their Citizenship Than Ever Before

This year could be a record year for US renunciations. In the first three months of this year, 1,337 Americans have given up their passport. That’s 40% of the total passports given up last year. Last year renunciations were 15 times higher than in 2008, but if the first three months of this year is any indication of what’s to come, 2015 will be a record year.

The main reason for the surge in renunciations is US tax laws. Expats are tired of filling out complicated tax forms for simple tax returns according to Keith Mann. The tax laws have gotten so complicated that American living abroad faces a nightmare each year at tax time. Congress continues to make it harder for average citizens around the globe to file their taxes. Most people that live here are sick of the tax system but continue to comply. Some taxpayers are now saying all the disrespect is not worth the citizenship.

Our tax system is costing the country billions. Congress is adding to the loss by passing laws that increase the bureaucracy and decrease their ability to collect taxes without all the forms.