Multi-gazillionaire University Chancellor Jim Rogers never stops calling for a state income tax - despite the fact that the people of Nevada are so repulsed by the very idea that they actually passed a constitutional amendment banning any such thing several years ago. But maybe Mr. Rogers is onto something.
Ask almost anyone and they’ll tell you that a major part of Nevada’s budgetary problems are a direct result of our state’s explosive population growth over the last two decades. And as Stephen Moore of the Wall Street Journal noted yesterday, “The eight states in the continental United States without an income tax all gained population (last year), even South Dakota.”
So if we want to eliminate the magnet attracting people to Nevada, apparently all we have to do is implement Mr. Rogers’ income tax and people will stop coming here. In fact, a lot of those already here will leave. Problem solved.
Except…
The few people left will have to pay for the government we’ve built up over the years, because as everyone knows, government can never be cut. So the Nevada income tax rate would probably have to be somewhere in the neighborhood of 183 percent. Ah, the price we pay for civilization.
Posted on April 15th, 2008 by Chuck Muth
Filed under: Nevada
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