Tell me again why Nevada needs to increase state spending by $1.3 billion and increase taxes to pay for it.
We’re just not taxed enough, our Republican Gov. Brian Sandoval insists, along with a majority of the state Senate, including all but four Republicans.
The Tax Foundation has come out with its 2015 Tax Freedom Day stats, and it turns out Nevada’s tax burden in federal, state and local taxes as a percent of total income ranks 26th in the nation — right in the middle. That means it takes Nevadans until April 20 this year — 110 days into the year — to start earning money we can keep, instead of paying taxes. Nationally, Tax Freedom Day is April 24.
“Americans will pay $3.3 trillion in federal taxes and $1.5 trillion in state and local taxes, for a total bill of more than $4.8 trillion, or 31 percent of the nation’s income,” the Tax Foundation calculates, noting that the tax burden in 1900 was 5.9 percent of income.
Americans will spend more on taxes in this year than on food, clothing, and housing combined. If federal borrowing were included it would take another 14 days to cover the government tab.