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Bank Bust 


Editor:

Lumping Banks and Credit unions together for your "Best Of" awards selections is, in my opinion, neither fair nor appropriate (Aug. 13). It would be akin to combining best Martini with best Bloody Mary or best IPA with best local beer. Granted, banks and credit unions are very similar, however there is one distinction that sets them apart and provides the credit unions with a marked advantage. Credit unions are not taxed by states or the U.S. Government.

Pretty crazy, especially when cities, counties, states and Uncle Sam can't find enough tax revenues to support necessary expenditures. Banks pay in excess of 40 percent of their earnings in taxes, plus any dividends to shareholders are taxed as well. Please, next year let the banks compete against other banks and let the credit unions do the same.

Theodore S. Mason, Willow Creek


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