How did Nevada get into the economic mess we find ourselves in today? By putting Democrats like former Assemblyman Harry Mortensen in charge of our Legislature for the last 20-plus years, that’s how.
In a letter-to-the-editor published on Sunday by the Las Vegas Review-Journal, Mortensen – mercifully out of office thanks to term limits – calls for the imposition of a corporate income tax – as if a business tax isn’t an indirect tax on a corporation’s owners, stockholders and customers. But it was Mortensen’s position on how to collect the tax that was truly frightening.
“(T)he management of a business income tax is not as difficult as has been represented. Most states — in cooperation with the IRS — simply collect a percentage of the obligation owed to the IRS, and then the IRS gives the business a deduction for the money it pays in state income tax. That’s a win-win situation for Nevada businesses and Nevada.”
Yeah, raising taxes and further entangling business owners with the regulatory red tape and strong-arm tactics of the IRS is a real win-win. Do us all a favor, Mr. Mortensen, stay retired!