NV Dems Ignore Census Data, Still Propose New Income Taxes
I like math. Math can’t be manipulated to get a desired outcome. The answer is the answer, and that’s all there is to it (wish someone would have told my high school algebra teacher that). To solve problems with math we use formulas. You don’t always need a specific formula to answer a question, but the answer is always right or wrong.
2 + 2 = 4
In spite of ‘New Math’s‘ efforts, it really is that simple.
Here’s another equation that is universal:
The more of your money you keep, the more money you will spend. The more money you spend, the more the economy grows.
Again, a flawless indisputable formula that can be applied to all economic circumstances.
Liberals, for some reason, can not comprehend this basic fact. Enter NV Assemblywoman Peggy Pierce.
She presented AB 336 yesterday. This bill would apply a new 4.5% income tax on businesses whose taxable income exceeds $500,000. If a company meets this minimum threshold, they can kiss $22,500 goodbye. Or if you look at it another way, they can kiss one $11 an hour job goodbye. Why is this important? Because right now Las Vegas has an overabundance of $10 – $11 an hour jobs. Unemployment pays $10 an hour. I know that isn’t a lot of pay, but if you run out of unemployment it sure would be nice to have that job waiting.
Regardless of how you look at it, that company will have a minimum of $22,500 less every year. That means they won’t spend it on their business in any form. Since all businesses are customers of other businesses, this means that any business they do business with will get less money. Now we have what’s called a ‘snowball’ effect. Less money always trickles down.
This is where the Census data comes in.
Over the past decade, the 8 states without an income tax grew 18%. All of the other states with an income tax grew just 8%. Not having an income tax yields a net economic growth of 10% more than having one. Yes I know we are talking about corporate income tax with this bill, but an income tax of any kind has this effect.
States without collective bargaining for public employees also grew at a better rate (15% vs 7%).
Public employees count as government spending. This irrefutable data, from the government themselves, proves that the more money government takes and spends, the less economic growth there will be in that area … period, end of story.
Posted on April 13, 2011, in Big Government, Dumbassery, Politics and tagged AB 336, Assembly Woman, Business, Government, Government spending, Income, Income tax, Nevada, Peggy Pierce, Politics, Tax. Bookmark the permalink. 1 Comment.