JUST KEEP IT COMING
For almost three decades, it’s been a cherished doctrine of the liberal political establishment that Nevada could better navigate economic storms if only it featured a “broader” tax base — meaning a state income tax, higher and new levies on business, or some combination of the two. …
There is no state in the union that has crafted a “recession-proof” tax structure — and many have tried. Nevada revenues, in fact, have been remarkably consistent over recent times, more so than tax collections in many states that feature a wide variety of levies.
We need only look once again to our Western neighbor for confirmation of this.
In California, the Los Angeles Times reported this week, a 14-member panel has been meeting since the beginning of the year to discuss … “reducing the state’s tax volatility, which arises in large measure from the reliance on personal income tax, particularly revenue generated by top wage earners.”
In other words, even California — which taxes virtually everything that moves and features an array of levies that Assembly Democrats here would salivate to impose in Nevada under the guise of “broadening the tax base” — doesn’t have a tax system that satisfies those who crave “stability.”
Perhaps that’s because the actual goal isn’t “stability,” but simply to keep more and more money flowing toward the public sector, regardless of the condition in which those who pay the bills find themselves.