Archive for month: April, 2014

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April 29, 2014
29 Apr 2014

Political Update – April 29, 2014

Growing cost of PERS raises worries

By: Anjeanette Damon
Reno Gazette-Journal

More than 52,000 people — former teachers, firefighters, mechanics, football coaches, engineers, police officers and janitors among them — rely on Nevada’s Public Employees’ Retirement System for some or all of their retirement income.

Another 100,000 or so people are in the pipeline to become beneficiaries of PERS.

But the financial stability of the system central to the livelihood of so many is becoming increasingly expensive for governments to maintain — largely because of the growing cost of funding benefits for existing employees as well as playing catch-up for inadequate funding in the past.

The administrators of PERS maintain the fund is actuarially sound — it is meeting its obligations, the government employers are making their mandated contribution payments, and measures are being taken to ensure the plan will become fully funded in 22 years.

“We are paying all liabilities as they come due, and we are well-positioned to pay all future liabilities as they come due,” said Tina Leiss, executive officer of PERS. “We have a $32 billion trust fund that is used solely to pay the benefits of the retirees.”

Independent studies have also shown that Nevada’s is among the healthier plans compared to similar systems across the United States because of the conservative way in which it is managed.

But that comparative report doesn’t necessarily mean the system is healthy, particularly because many of the same problems plague all similar plans across the country. According to a 2012 analysis by Pew Charitable Trusts, a national $757 billion gap existed between states’ assets and the cost of their pension obligations — a number that is growing.

Nevada’s unfunded liability accounts for $12.8 billion of that growing gap.

“It’s a mathematical issue. Math doesn’t play around,” said Robert Chisel, the city of Reno’s finance director. “If the unfunded liability is growing, something is wrong with (the actuaries’) assumptions. We will very likely continue to have to increase our contributions.” 

 


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:
  • To focus on candidate support on state legislative races and the governor’s office.
  • To oppose any form of corporate income taxes or other business taxes that discourage capital investment and therefore job creation.
  • Support limiting Nevada state government spending to the rate of population growth.

Quote:
“But the financial stability of the system central to the livelihood of so many is becoming increasingly expensive for governments to maintain — largely because of the growing cost of funding benefits for existing employees as well as playing catch-up for inadequate funding in the past.“ – Anjeanette Damon, RGJ

Save the Date

Keystone Annual Dinner

with

Dennis Miller

October 14, 2014

Well known for his conservative political opinions Dennis is a regular political commentator on Fox News Channel’s The O’Reilly Factor. He is a stand up comedian and political commentator as well as a TV & radio personality.

The Venetian
Casino • Hotel • Resort
3355 S. Las Vegas Blvd.
Las Vegas, NV 89109

Download The Table and Sponsorship Information Here
Email to: Info@KeystoneNevada.com
Phone to: 702-952-2456
If you’re having trouble viewing this email, you may see it online.
 

 

 

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April 23, 2014
23 Apr 2014

Political Update – April 22, 2014

 

Al Shanker identifies why margin tax
wouldn’t improve Nevada education

By: Steven Miller
Nevada Policy Research Institute 

Let’s say that Nevada teacher-union officials get their wish this fall and voters approve the massive tax-increase measure that will be on the ballot.

Let’s also assume, for good measure, something entirely unlikely — that state lawmakers next spring obey the teacher union and pour ALL the hundreds of millions of dollars in new taxes into the state’s government schools.

Would Silver State public education noticeably improve?

Unfortunately for all concerned — Nevada school kids, parents and everyone with a stake in the state economy — the answer is no.

The ballot measure completely evades the fundamental problem with the state’s public schools. That problem — and the problem with government schools generally in the U.S. — was explicitly identified by, of all people, Albert Shanker, the late president of the American Federation of Teachers union, four years before his death.

In 1993, he was one of many education experts from around the English-speaking world invited to that year’s Pew Forum on Education Reform. And when an apparently odd provision in an American teacher-union bargaining agreement attracted attention, Shanker spoke up.

One of the Australian guests, he noted, had “said that she was surprised to see that there was a contractual limit on the length of a faculty meeting.”

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:
  • To focus on candidate supporton state legislative races and the governor’s office.
  • To oppose any form of corporate income taxes or other business taxes that discourage capital investment and therefore job creation.
  • Support limiting Nevada state government spending to the rate of population growth.

“Would Silver State public education noticeably improve? Unfortunately for all concerned — Nevada school kids, parents and everyone with a stake in the state economy — the answer is no.“ – Steven Miller, NPRI

Save the Date

Keystone Annual Dinner

with

Dennis Miller
October14, 2014

 

Well known for his conservative political opinions Dennis is a regular political commentator on Fox News Channel’s The O’Reilly Factor. He is a stand up comedian and political commentator as well as a TV & radio personality.

The Venetian 
Casino • Hotel • Resort
3355 S. Las Vegas Blvd. 
Las Vegas, NV 89109

Detailed Information to Follow
Email to: Info@Keystone
Nevada.com

Phone to: 702-952-2456

If you’re having trouble viewing this email, you may see it online.
 

 

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April 15, 2014
15 Apr 2014

Political Update – April 15, 2014

 

Unsustainable salaries become unsustainable: Reno edition

Thirty-five Reno firefighters and their families, as well as all city residents, are about to experience the pain that is the inevitable result of unsustainable salary and benefit increases.

Today, the Reno Gazette-Journal reports that the City of Reno is preparing to lay off 35 firefighters and begin part-time closures of three fire stations because it did not receive a federal grant that would have covered its burgeoning costs.

In response, City Manager Andrew Clinger said, “We knew this was a possibility, and we’ve been working on a restructuring plan for some time to ensure the continued safety of our citizens.”

Unfortunately, Nevada’s collective bargaining law makes the most obvious restructuring plan, reducing inflated compensation, difficult to impossible. And firefighter compensation is quite high in Reno.

In 2012, the last year for which data is available, 12 of the 286 people employed by the department took home over $200,000 in salary and benefits. Sixty-three made over $150,000, and nearly everyone made over $100,000.

All compensation data can be found at TransparentNevada.com, but here’s a snapshot of what some of the department’s brass received in total compensation in 2012:

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:
  • To focus on candidate supporton state legislative races and the governor’s office.
  • To oppose any form of corporate income taxes or other business taxes that discourage capital investment and therefore job creation.
  • Support limiting Nevada state government spending to the rate of population growth.

” 12 of people employed by the [Reno fire] department took home over $200,000 in salary and benefits. 63 made over $150,000, and nearly everyone made over $100,000“ – NPRI 

Save the Date

Keystone Annual Dinner

with

Dennis Miller
October14, 2014

 

Well known for his conservative political opinions Dennis is a regular political commentator on Fox News Channel’s The O’Reilly Factor. He is a stand up comedian and political commentator as well as a TV & radio personality.

The Venetian 
Casino • Hotel • Resort
3355 S. Las Vegas Blvd. 
Las Vegas, NV 89109

Detailed Information to Follow
Email to: Info@Keystone
Nevada.com

Phone to: 702-952-2456

If you’re having trouble viewing this email, you may see it online.
 

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April 14, 2014
14 Apr 2014

2014 Annual Dinner

Aug 12 top

Dennis-Miller-6b4215912906cac202163b3b282c5d62
Well known for his conservative political opinions Dennis is a regular political commentator on Fox News Channel’s The O’Reilly Factor. He is a stand up comedian and political commentator as well as a TV & radio personality.

Honorary Chairs

Darren and Cheryl Wilson

invite you to the 

Keystone Annual Dinner

 

With Dennis Miller

October 14, 2014

Keystone Corporation Economic Freedom Award

Presented to

The Honorable Lorraine Hunt-Bono
Former Nevada Lieutenant Governor


The Venetian Casino • Hotel • Resort

3355 S. Las Vegas Blvd.

Las Vegas, NV 89109

Download the Table and Sponsorship Information Here
 Email To: info@keystonenevada.com
Phone To: 702-952-2456
Aug 12 Bottom

 

 

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April 8, 2014
08 Apr 2014

Political Update – April 8, 2014

The Margins Tax Initiative will give Nevada the highest business tax rate in the nation.

Come hear about how this tax initiative threatens to stifle the progress of Nevada’s business and job market.

Please forward this email to your business associates and friends to help us protect Nevada’s businesses and jobs.

Keystone Annual Luncheon

Keystone will host
The Coalition to Defeat the Margins Tax
and
State Senate Minority Leader
Michael Roberson,

who will be giving an update on the Senate Rpublicans efforts to take the majority

The Margin Tax Initiative is a job-killing measure on the ballot this November. If passed, it would give Nevada one of the highest business tax burdens in the nation, the equivalent of an average 15% net corporate income tax rate. This deeply flawed and costly initiative would institute a new 2% tax on gross revenue for any business with revenue over $1 million. However, the first million is still subject to the tax. If you have one dollar in gross revenue over $1 million, you pay 2% based on all of your gross revenue. Profit is not taken into account — even if you are operating at a loss, you still pay the new tax!

April 9, 2014
12:00 PM to 2:00 PM
Silverton Hotel
3333 Blue Diamond Rd,
Las Vegas, NV 89136

$35 per person

(Keystone member price)

$40 per person

(Non-Member price)

Please RSVP
By Email To: Info@KeystoneNevada.com
By US Mail To:
P.O. Box 93596
Las Vegas, NV 89193-3596
By Phone To: 702-952-2456
 



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:
  • To focus on candidate support on state legislative races and the governor’s office.
  • To oppose any form of corporate income taxes or other business taxes that discourage capital investment and therefore job creation.
  • Support limiting Nevada state government spending to the rate of population growth.

“Fortunately for Nevada voters, we don’t have to guess or speculate about what will happen if the margin tax passes this November: All we must do is look to Texas.“ – Andy Matthews, President of NPRI

Truth about the Texas margin tax

Andy Matthews
President of NPRI

It’s not often voters get a trial run before they sign off on a new tax, policy or program.

A lot of the time, the actual impact of a ballot measure isn’t known until it is implemented, or even years later.

Fortunately for Nevada voters, we don’t have to guess or speculate about what will happen if the margin tax passes this November: All we must do is look to Texas.

Texas enacted a margin tax in 2008, becoming the first and only state in the union to implement this particular type of gross-receipts tax. Now, a move is under way to repeal that tax, which hurts small and family-owned businesses, creates a paperwork nightmare for businesses and has for years prevented Texas from reaching its full economic potential.

Read the full article here

If you’re having trouble viewing this email, you may see it online.
 
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April 1, 2014
01 Apr 2014

Political Update – April 1, 2014

The Margins Tax Initiative will give Nevada the highest business tax rate in the nation.

Come hear about how this tax initiative threatens to stifle the progress of Nevada’s business and job market.

Please forward this email to your business associates and friends to help us protect Nevada’s businesses and jobs.

Keystone Annual Luncheon

Keystone will host
The Coalition to Defeat the Margins Tax
and
State Senate Minority Leader
Michael Roberson,

who will be giving an update on the Senate Rpublicans efforts to take the majority

The Margin Tax Initiative is a job-killing measure on the ballot this November. If passed, it would give Nevada one of the highest business tax burdens in the nation, the equivalent of an average 15% net corporate income tax rate. This deeply flawed and costly initiative would institute a new 2% tax on gross revenue for any business with revenue over $1 million. However, the first million is still subject to the tax. If you have one dollar in gross revenue over $1 million, you pay 2% based on all of your gross revenue. Profit is not taken into account — even if you are operating at a loss, you still pay the new tax!

April 9, 2014
12:00 PM to 2:00 PM
Silverton Hotel
3333 Blue Diamond Rd,
Las Vegas, NV 89136

$35 per person

(Keystone member price)

$40 per person

(Non-Member price)

Please RSVP
By Email To: Info@KeystoneNevada.com
By US Mail To:
P.O. Box 93596
Las Vegas, NV 89193-3596
By Phone To: 702-952-2456
 



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:
  • To focus on candidate support on state legislative races and the governor’s office.
  • To oppose any form of corporate income taxes or other business taxes that discourage capital investment and therefore job creation.
  • Support limiting Nevada state government spending to the rate of population growth.

Small business owner: Margin tax would impose 32% marginal tax rate

Threat of hefty tax offers new incentive to keep revenues low

Chantal Lovell
Nevada Journal 

LAS VEGAS — Come November, the fate of Nevada business owners — big and small — will be in the hands of voters.

 

For family-owned businesses like Las Vegas Window Tinting, the stakes are high: the imposition of the margin tax would slap owners Frank and Lelia Friedlander with an additional $24,000 tax bill.

 

Unlike a corporate income tax, the proposed two-percent margin tax would be levied on the revenue that passes through businesses’ registers, not the profit left over after bills are paid. This means struggling businesses stand to lose all of their profit, or worse, end up losing money at a time when many Nevada job-creators are still trying to fully recover from the Great Recession.

Read the full article here

 

If you’re having trouble viewing this email, you may see it online.

 

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