State Tax system could be Stabilized and Improved with Broader Consumption Tax Calls for “revenue reform” have long emanated from Carson City, where state lawmakers have complained that Nevada’s current tax code is outdated and no longer capable of supporting critical public services. Most often, these calls for “revenue reform” have served as little more than a euphemism for … [Read more...] about What Should “Revenue Reform” Look Like?
New Dynamic, General-Equilibrium Analysis Simulates Impact of Tax Proposal Although much has been said about the proposed margin tax on businesses that will appear as Question 3 on November’s ballot, there is a shocking lack of clarity about the actual impact of the tax on Nevada’s economy. There isn’t even agreement on an approximate amount of new tax dollars the tax would … [Read more...] about Margin Tax Would Cause Destruction of 3,600+ Private-Sector Jobs
Much ado has been made, and will continue to be made, about what is the most important question on Nevada’s 2014 ballot. But one critical aspect of the state teacher union’s proposal to enact a business margin tax has gone virtually unnoticed: the definition of an “affiliated group.” For the non-accountant, this might sound like a tedious and technical detail, but it could … [Read more...] about A Key Definition in the Margin-Tax Scheme Would Have Catastrophic Impact
Capitalism did not create poverty—it inherited it,” observed individualist philosopher Ayn Rand. Over the past centuries, capitalism has eradicated the previous conditions of widespread famine and starvation and has elevated the living standards of the poor to a level previously unheard of, even for kings. Today, even low-income Americans commonly enjoy cell phones, … [Read more...] about The Left’s New Agenda: Minimum Wage Hikes and Unemployment Benefits Aren’t the Key to Prosperity
From kindergarten to college graduation, Nevada’s education system has overcome a multitude of hurdles in recent years. Even so, the system still has a long way to go. Coming together to discuss issues Nevada faces in regards to education, a combination of business leaders, economic development resources and leaders in education recently met at the Las Vegas offices of Cox … [Read more...] about Industry Focus: Education
Three years ago, both Brian Sandoval and Rory Reid ran for governor on a “no new taxes” platform. Last year, voters in five Nevada counties rejected six efforts to raise taxes — even though Barack Obama was at the top of the ticket, driving liberal voter turnout. Given the clear will of the voters throughout the state, you’d expect that the governor and legislators would … [Read more...] about Taxpayers Lose Big: Lawmakers Impose New Burdens
Nevada’s unemployment rate has lingered at unacceptably high, double-digit rates for nearly four years. That uncomfortable statistic — reflecting deep human costs inflicted on many Nevada families — has led the state’s political class to make much ado about promoting “economic development.” During the 2011 legislative session, for example, lawmakers created a new “state … [Read more...] about Let’s Quit Killing Jobs in the Silver State: Legislators Should Remove Obstacles to Job Creation
Against a persistent backdrop of brutal budget cuts, shrinking revenues and heightened expectations, K-12 educators in Nevada continue to explore and implement innovative solutions to the challenges they face in the state’s schools. “We’re in the new normal now with the expectation that we’ll have to do more with less,” says Heath Morrison, superintendent of Washoe County … [Read more...] about Education Outlook: Weathering the Storm