Vegasrider
Vegasrider
Joined: Dec 23, 2017
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July 9th, 2020 at 1:55:04 PM permalink
Economically, the state cannot afford to shut down again. The state is already trying to figure out where they are going to come up with next years budget. They are furloughing state workers one day a month, etc.

I heard a state income tax is in the works. That would be horrible. I can come up with at least a half a dozen ways to get more money for the state. Starting with the lottery. Why let hundreds if not thousands of Nevadans go to Cal or Arizona to play the lottery each week? Make it illegal for resorts to charge resort fees, by eliminating that, you could increase the hotel tax. Legalizing daily fantasy. Increase alchohol, marijuana tax. Anything but a state income tax. Ot maybe for the folks who make less than 100k a year.
Wizard
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Wizard
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July 9th, 2020 at 4:46:18 PM permalink
Quote: Vegasrider

I heard a state income tax is in the works.



I would oppose that too, but the suggestions you make would never equal what an income tax would probably bring in. Personally, I get how they may need to raise taxes. I'd prefer them just increase existing taxes, like property and sales.
It's not whether you win or lose; it's whether or not you had a good bet.
AlanMendelson
AlanMendelson
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July 9th, 2020 at 4:55:39 PM permalink
It's easier to sell voters on an income tax that starts taxing at higher income levels.

Exempt the first $50,000 of income and watch how quickly it passes.

Property and sales taxes do not take into account the ability to pay. They're a hard sell.

Sin taxes are always a good fall back. But there's a limit on how much revenue they'll bring in.
kewlj
kewlj
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July 9th, 2020 at 5:53:25 PM permalink
Isn't Nevada one of only a handful of states with no income tax? We have Casinos generating enough tax so we don't need income tax. That is like one of the selling points for Nevada. Let's keep it that way. I am with Alan. Bump up Tax on alcohol and weed.
mcallister3200
mcallister3200
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July 9th, 2020 at 6:07:39 PM permalink
Nevada casinos are taxed at 7.5%, I kinda doubt there’s another state regulated market where it’s not at least double that, there’s states that tax the casinos 4x that. Seems like ramping that up would be the best and easiest way but in Nevada that move would probably kill the re-election campain fund of any legislator voting for it. I did read a gaming reporter report yesterday that they are going to gut the funding for problem gambling and use that money elsewhere.

I think they’re probably already collecting too much weed tax to the point it’s actually hurting their revenue I don’t really think that would help; that and excessive regulation requirements driven up the price to where it’s pretty much tourist customers, black market so much cheaper that those who have that option are generally going that way, same thing in California.
Vegasrider
Vegasrider
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July 9th, 2020 at 6:23:05 PM permalink
Quote: AlanMendelson

It's easier to sell voters on an income tax that starts taxing at higher income levels.

Exempt the first $50,000 of income and watch how quickly it passes.
.



I would vote for that, but not at 50k. It would have to be higher, maybe use the same cutoff point as the stimulus checks were, 90k.
mcallister3200
mcallister3200
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Thanks for this post from:
tringlomane
July 9th, 2020 at 9:08:13 PM permalink
Sisolak announced today that bars, including bars inside casinos, being shut down tomorrow night due to “excessive non-compliance.” I believe this includes gaming machines also. Come on dude, lets get on with the banning smoking part already for causing excessive non mask compliance.
Last edited by: mcallister3200 on Jul 9, 2020
TDVegas
TDVegas
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July 9th, 2020 at 10:49:16 PM permalink
Quote: mcallister3200

Sisolak announced today that bars, including bars inside casinos, being shut down tomorrow night due to “excessive non-compliance.” I believe this includes gaming machines also. Come on dude, lets get on with the banning smoking part already for causing excessive non mask compliance.


I’m here....supermajority of mask non compliance is smokers who leave the mask on their ear or chin and think a cig in hand gives them free reign to keep the mask off.

I see a few people drinking who do the same. Most of this is occurring at slots where the casinos have less eyes.

Congrats. They just got the bars shut down.
Wizard
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Wizard
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Joeman
July 10th, 2020 at 5:43:52 AM permalink
Quote: AlanMendelson

It's easier to sell voters on an income tax that starts taxing at higher income levels.

Exempt the first $50,000 of income and watch how quickly it passes.



What bothers me is that everybody will have to still fill out the form to show they are under the cap. You can't just go off of the federal tax form, at least I don't think you can.

I have nothing against the concept of paying taxes and would happily pay more if we received the level of government services of say the Netherlands. However, I do object to the complexity and unfairness of the tax system. When I'm in charge, taxes will be based on consumption, not creation. Meaning no income tax but a national sales tax equal to whatever it would take to replace that lost income.
It's not whether you win or lose; it's whether or not you had a good bet.
AlanMendelson
AlanMendelson
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July 10th, 2020 at 7:14:55 AM permalink
Quote: Wizard

When I'm in charge, taxes will be based on consumption, not creation. Meaning no income tax but a national sales tax equal to whatever it would take to replace that lost income.



Unfortunately for lower income people a sales tax is the worst kind of tax.

Lower income people spend a greater percentage of their income on merchandise, so their sales tax burden becomes a larger percentage of their disposable income.

You need to be clear:

Do you want a tax system based on the ability to pay, or do you want a tax system that put the same taxes on everyone regardless of their ability to pay?

I want a tax system that takes into account the ability to pay.

A flat tax system, i.e. a tax rate that is universal, might lower taxes for many people but it lacks the ability to pay basis.

Back in the early 1970s I was appointed Chairman of the Rockland County (New York) Citizens Advisory Commission on tax reform. It was a county legislature job. Our goal was to replace county property taxes with a county income tax. We were decades ahead of our time.

The proposal was simple: charge a percentage of the amount owed to the IRS as a county income tax to replace the property tax.

It could have been filed with a postcard.

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