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Oct. 23, 2009
Copyright © Las Vegas Review-Journal

Nevada in bad company

Seven states worse off in tax revenue drops

By ED VOGEL
LAS VEGAS REVIEW-JOURNAL CAPITAL BUREAU

CARSON CITY -- If misery loves company, then Nevada's state government can find solace in a national report Thursday that found seven other states will experience even higher tax revenue declines in the current fiscal year.

A National Conference of State Legislatures study found total tax revenues in Nevada will decline by 5 percent during the fiscal year ending next June 30, when compared with the past fiscal year.

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    • That really isn't news because the figures come from the Economic Forum projections in May that were used to create the current state budget. The figures were developed before the Legislature increased taxes by a record $1 billion.

    But Nevada's tax losses pale in comparison with states such as Alaska, projected to suffer a 45 percent drop because of declining oil revenue. In Louisiana, the decline is 13.9 percent, in Wyoming, a 10 percent drop.

    The report comes on the same day that the Conference Board, a private economic forecaster, said economic activity nationally rose for the sixth straight month despite rising unemployment.

    But the reality for the states, according to the state legislature group, has been a "steep and unrelenting decline."

    "Even pessimistic forecasts have not been met, producing cavernous holes in state budgets," the group said.

    Ohio, Connecticut, Iowa and Vermont also are projected to experience sharper revenue declines than Nevada.

    Five states, including Michigan, with the highest unemployment rate in the nation, did not take part in the study.

    Twenty-six of the 45 states that participated in the study predict their tax revenues will decline in the current fiscal year, compared with last year.

    Like Nevada, 19 other states have increased taxes this year to make up for the tax declines.

    Contact reporter Ed Vogel at evogel@reviewjournal.com or 775-687-3901.

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    larry wrote on October 23, 2009 02:36 PM: since the mexicans left the mormons are the only people willing to do the work.


    Knock it offf wrote on October 23, 2009 01:10 PM: Hey whoever you are, that's bashing the mormons...your posts are very creepy.

    Are you related to the other creepy poster, who bashes firemen and women?


    Everyday I am reminded of their lousy decisions wrote on October 23, 2009 12:59 PM: I'm making my contribution to this "problem" by not buying anything that supports the raised revenues by the legislature.

    I've cut my spending to the essentials. No big ticket items on the horizon.

    As it is my car registration has gone up, my property taxes don't reflect the lose in equity, don't go to restaurants because friends of mine can't afford it right now.

    I just can't get over how the legislature completely ignored finding real solutions for unemployment which reached 13%, mortgage foreclosures and our imploding economy...but just ran their running up taxes games.


    mormons are able to get no bid contracts which amount to insane profits for them and for some reason, it keeps on happening over and over wrote on October 23, 2009 11:03 AM:
    highways
    walking paths
    springs preserve
    shooting parks
    wetlands tree planting


    The Laffer Curve Once Again Proven Correct wrote on October 23, 2009 07:58 AM: When will the commies ever learn that Keynesian Economics is WRONG!!!

    Ahhhhhhhhh, The Laffer Curve is proven correct once again.


    Too_much_government wrote on October 23, 2009 07:22 AM: All we ever hear about is revenues, Revenues, REVENUES. "We need *more*", "How can we get *more*?", etc. The problem is too much SPENDING.

    If we had small government in this state, existing mining taxes ALONE would be enough to cover our constitutional obligations. That's right. K-16, mental hospitals, 3 branches, the militia, and prisons could all be had for less than $100M per year. The governor would have to call a special session to figure out how to REBATE all the money piling up in the treasury.


    roverrover2 wrote on October 23, 2009 06:56 AM: Don't look to far from our local Corrupted Government, our financial public resources that have been abused for years and our decline in Nevada and our overwhelming unemployment starts here in Las Vegas.

    Take a look how Clark County Business Licence Department Director Jacqueline Holloway ran and continues to run CCBL, by allowing Dan Hoffman even with a most recent demotion, they continue their corrupted personal AGENDA to use public resources fill only personal gain, not the publics. So with many other employees connected within Clark County extending the ARM of Corruption all the way to The City of Las Vegas, Council Members. Local government inflated raises (transparent Nevada.com) = YES! The Right Thing To Do For Our Local Economy = NO!

    A FEDERAL Outside investigation would be the best for our local community, Starting with Clark County!!!!!


    roverrover2 wrote on October 23, 2009 06:54 AM: Don't look to far from our local Corrupted Government, our financial public resources that have been abused for years and our decline in Nevada and our overwhelming unemployment starts here in Las Vegas.

    Take a look how Clark County Business Licence Department Director Jacqueline Holloway ran and continues to run CCBL, by allowing Dan Hoffman even with a most recent demotion, they continue their corrupted personal AGENDA to use public resources fill only personal gain, not the publics. So with many other employees connected within Clark County extending the ARM of Corruption all the way to The City of Las Vegas, Council Members. Local government inflated raises (transparent Nevada.com) = YES! The Right Thing To Do For Our Local Economy = NO!

    A FEDERAL Outside investigation would be the best for our local community, Starting with Clark County!!!!!


    j wrote on October 23, 2009 04:26 AM: aahh, aren't we lucky HRRY Reid? Maybe his nose will have Nancy Pelosi's rear end completely cleaned before we can dump him in 2010? How many more jobs can Reid cost us? Does he have to ask Obama how many more he wants to take away from us?