In 2010, Americans spent 6 billion hours, which is approximately 8,800 lifetimes, and $480 billion doing their taxes. This represents a huge deadweight loss — time and money wasted jumping through government-mandated hoops — for individuals and America’s economy. It’s also why, regardless of how much how you think the federal government needs to collect in taxes, it is … [Read more...] about Examining the Tax Plans of Top GOP Candidates: Proposals range from gournd-breaking flat taxes to tweaking the status quo
Free Market Watch
Hiding Behind Opaque Numbers: Nevada PERS Accounting Practices are Concealing Taxpayers’ Real Liabilities
Nothing pleases a politician more than the ability to promise lavish benefits to important constituencies without having to pay for them. Nevada lawmakers long ago found a vote-buying cash cow of this nature in the state’s Public Employees’ Retirement System (PERS). PERS manages a defined-benefits pension system that operates much differently from the retirement funds owned … [Read more...] about Hiding Behind Opaque Numbers: Nevada PERS Accounting Practices are Concealing Taxpayers’ Real Liabilities
Increasing Student Achievement: Sandoval and Bush Work to Bring Florida-Style Education Reforms to Nevada
It’s easy to be cynical about education and education-reform efforts in Nevada. For decades, we’ve known that Nevada’s education system needs dramatic improvement. And for decades, unions, led by the Nevada State Education Association, have told Nevadans that spending more money would improve our schools. Thus, spend we have. Over the last 50 years, Nevada has nearly … [Read more...] about Increasing Student Achievement: Sandoval and Bush Work to Bring Florida-Style Education Reforms to Nevada
How much is too much?: Government wages are extravagant and arbitrary
It’s one of the most challenging questions facing labor economists today: At what level should most public employees be paid? In public sector employment, the typical price signals that help determine wage rates in competitive labor markets are absent. After all, most government agencies do not compete in an open labor market wherein they must also provide quality goods to … [Read more...] about How much is too much?: Government wages are extravagant and arbitrary
The Dreaded “R” Word —- Revenues
There is no doubt that Nevada has been one of the hardest hit economies not only in the United States, but even the world. Our double-digit unemployment rate is the highest in the nation month after month – exceeding even Greece’s unemployment. Our housing market is second only to Detroit’s, with more than 70 percent of Las Vegas area mortgages under water and no signs of … [Read more...] about The Dreaded “R” Word —- Revenues
ObamaCare will Squeeze Education, Other Needs: Nevada Medicaid commitments on track to crowd out alternative priorities
Often lost in the debate over the Patient Protection and Affordable Care Act (PPACA) — the sweeping health care “reform” legislation popularly known as ObamaCare — is the impact it will have on education, public safety and other public services as health insurance subsidies begin to consume a greater share of state spending. Congressional Democrats claimed, when passing … [Read more...] about ObamaCare will Squeeze Education, Other Needs: Nevada Medicaid commitments on track to crowd out alternative priorities
Large Tax Increase Traded for Small Reforms: Tax Issues Define Legislative Session
For the first 108 days of the 2011 Nevada Legislative Session, Gov. Brian Sandoval defined the policy debate by being a strong advocate for Nevada’s taxpayers and business owners. On May 26 however, the Nevada Supreme Court correctly ruled that state government couldn’t take $62 million from the Clean Water Coalition and transfer that money to the state’s general fund. The … [Read more...] about Large Tax Increase Traded for Small Reforms: Tax Issues Define Legislative Session
A Model of Failure: A New Study Exposes the Law Behind Nevada’s Educational Woes
If you were to build a business enterprise from scratch, you’d likely consider a number of different models — various ways to strike a proper balance between necessarily competing objectives. For example, while you would probably seek to offer competitive salaries or wages to your employees, you would also be mindful of the need to limit your overhead costs. Your goal, … [Read more...] about A Model of Failure: A New Study Exposes the Law Behind Nevada’s Educational Woes
Unions Prevail, While Most Nevadans Struggle: Prevailing wage laws cost taxpayers billions
In the 2011 Nevada Legislature, lawmakers in the majority are again carrying water for organized trade unions — from the Keynesian “jobs fund” proposal to the mercantilist “Nevada Jobs First” proposal. Longtime Nevada residents know this is nothing new. It began in the 1930s, when legislators first adopted the state’s prevailing wage requirements on public works … [Read more...] about Unions Prevail, While Most Nevadans Struggle: Prevailing wage laws cost taxpayers billions
A Silver Lining Among the Storm Clouds: Recession drives better state budgeting practices
They say there’s a silver lining to every cloud. And Nevada currently faces a big cloud. Nevada is suffering through its deepest economic recession in generations. Its unemployment rate lingers above 14 percent — highest in the nation. If discouraged and underemployed workers is included, as was the practice during the Great Depression, Nevada’s effective unemployment rate … [Read more...] about A Silver Lining Among the Storm Clouds: Recession drives better state budgeting practices
TAX – It’s About the Margin: Even low tax rates can kill businesses and cause unemployment.
"This tax isn’t going to put anyone out of work!” lawmakers and pundits cried in 2009 as they debated whether to double the state’s modified business tax. “It’s only 1.17 percent!” Yet, even “small” taxes impact business. Sure, not all of the 24,790 individuals who are newly unemployed since the Nevada Legislature’s 2009 tax hikes took effect can directly attribute their … [Read more...] about TAX – It’s About the Margin: Even low tax rates can kill businesses and cause unemployment.