Political Update – March 5, 2014
Nevada’s tax burden is higher than you thinkAuthorities take more than $30K per household every two years By Geoffrey Lawrence In Carson City, state lawmakers are considering whether to impose a “margin tax” on business. For businesses taking in more than $2,740 a day in revenue, it would tax every dollar coming into a firm — except those falling under a complex, lawyer-pleasing array of possible deductions. Texas is the only state that has a margin tax, one lawmakers there created in 2006. The Texas experience has demonstrated it’s a problematic tax instrument — introducing more serious economic distortions and disincentives than do alternative tax instruments yielding the same amount of revenue. But, the big question is: Can Nevadans afford a new tax? Whether tax dollars are remitted by businesses or directly by individuals, all taxes are ultimatelypaid by individuals. Business taxes just tax individuals indirectly, because, by driving up business costs, these taxes either suppress employee wages, push the prices facing consumers higher, or both. Keystone’s Mission:
To recruit, support and advocate for candidates for public office who support private sector job creation, low taxation, a responsible regulatory environment, and effective delivery of essential state services. Keystone’s Goals:
Quote: “Authorities take more than $30K per household every two years“ – Geoffrey Lawrence, Nevada Policy Research Institution
Pay of Nevada’s public-school employees, versus private sector, is 4th highest in U.S.
BLS data shows 17 point gap between K-12 and private sector income in Nevada
By Steven Miller
Nevada Journal LAS VEGAS — As teacher union activists push for a heavy new tax on Nevada’s private-sector employers, federal data is showing that the state’s public K-12 education sector is actually doing far better, financially, than the state’s private sector.
 Keystone Annual Luncheon Keystone will host State Senate Minority Leader Michael Roberson and The Coalition to Defeat the Margins Tax The Margin Tax Initiative is a 2% gross revenue tax on large and small businesses alike. Businesses would have to pay the tax whether or not they are profitable, and regardless of whether the tax amount exceeds their net profits. Consumers would also have to pay the costs through increases in insurance premiums and utility costs and other increases to the basic costs of living. As Nevada’s economy is slowly recovering from the recession, the Margin Tax Initiative threatens to stifle the progress of Nevada’s businesses and job market. April 9, 2014 $35 per person
___________________ Save The Date Keystone Annual Dinner With Dennis Miller October 14, 2014 The Venetian Casino • Hotel • Resort 3355 S. Las Vegas Blvd. Las Vegas, NV 89109 Detailed information to follow
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