Nevada’s tax system hits hardest at low and middle-income wage earners and gives the rich a break, according to a new tax study.
Nevada’s tax system is the nation’s eighth most regressive, the Institute on Taxation and Economic Policy said in the study released today. [...]
Bob Fulkerson, executive director of the Progressive Leadership Alliance of Nevada, says the study by the institute shows Nevada’s tax structure “soaks the worker and coddles the wealthy.” He said the multi-millionaires or multi-national corporations, such as big-box discounters and gold mining companies pay less in taxes and ship their profits out of state.”
The progressive leadership alliance has strongly pushed for improving services to the poor and lower income citizens in Nevada.
The study says that those who make less than $21,000 a year pay 8.9 percent of their income in state and local taxes in such levies as sales, gas, cigarettes, alcohol and property taxes. Compared to those who earn $574,000 or more, the tax burden is 1.6 percent of their income.
Middle income earners in the $34,000 to $53,000 category shell out 6.4 percent of their income in taxes.
I can't argue with this at all. In many ways, Nevada is on its way to becoming another failed state a la California. We've known for a while that we don't properly invest in our infrastructure, but now we can finally get to the root of the problem. We allow for a "reverse Robin Hood" policy of stealing from the middle class and working poor to line the pockets of the super-rich!
Frankly, this needs to end ASAP. We need to stop treating our working families like crap. Hopefully this will be a wake-up call for Nevada to actually start valuing its working families.