richardhutnik wrote:GotItNow wrote:richardhutnik wrote:Nevada has an unemployment rate higher than the national average, and also currently running budget deficits. They are noted for low tax rates, I believe no corporate or state income taxes. Here is some info on this:
http://www.foxreno.com/11at11/26390430/detail.html
Nevada's tax structure is an obstacle to economic recovery and shortfalls in the budget cannot be addressed with spending cuts alone, according to a new study released Wednesday.
The report entitled “Structurally Unbalanced,” looks at budget problems in Nevada, California, Arizona and Colorado. It was released by Brookings Mountain West at the University of Nevada, Las Vegas, and the Morrison Institute of Public Policy at Arizona State University.
“Nevada relies heavily on sales tax and gaming revenue and has no personal and corporate income tax, so you have one of the most narrow state revenue systems found in the country,” wrote Matthew Murray, a professor of economics at the University of Tennessee and a lead researcher on the study.
“With property and sales tax revenue suffering, it is not at all clear where Nevada will find the revenue to fund services, including those that support economic development moving forward.”
When times are good, Vegas, read Nevada, works. However, when you shift to a sales tax model (see FAIR tax or VAT tax), and things are on a downturn, you have insufficient revenues to keep things going.
- Rich
More people need to fill those planes. More taxes are not needed, at all.
The only thing a VAT would accomplish is politicians would find a way to fritter that money away too. For God sakes richard how are high tax states doing? SMFH. California? In the crapper. NY? In the crapper. Leave Nevada alone you fools have frigged up enough states.
I HIGHLY suggest you put aside your stereotypical thinking and feeling a need to put me in some group, which isn't valid. Maybe you do it, because it is easier for you to mentally process and makes you avoid nuances in information out there that would be needed if you don't.
Reality here is if the economy takes a nosedive, then fiddling with tax rates won't cure it. Also, the report stated they are going to have to restructure how they tax, to be sustainable. This is not MY words, or your words, but the words a study done. You are free to ignore it, if you like, but it doesn't change reality.
Actually, you know what, continue this stereotypical simplistic thinking. Mugzi needs a buddy in my killfilter. If you are going to fail to demonstrate the ability to move beyond simplistic stereotypical thinking, you belong in there.
- Rich
The last place I'd go to for economic advice is a college study. Seriously, everything has been working just fine over there for decades. Historically they happen to be a recession-proof oasis. This one has been different for sure, because of the foreclosure crisis. Notice the study didn't address how historically it's done just fine during recessions. It just said add a VAT and you'll have some spending cash. Well sure, but it's not needed...that's my point. The study, doesn't change reality.

















