Don’t Get No Respect
We’re Number One: From the bottom, that is. It has been said that the state of Nevada is 49th out of the 50 states in funding for education. Many reasons have been given for this – most casino jobs do not require an education. Dealer? Count to 21. Food server? Know when your order needs to be picked up. Casino host? Know how to glad hand. It helps if you are a sports celebrity so the patrons can go home and say, “Guess who I met in Vegas?” Cab drivers need to know the longest route between two hotels. Change persons need to know who they gave the “lucky quarters” to so they get a good tip. Cocktail waitresses need to know how to balance drinks on a tray while wiggling. Visitors and convention goers are more concerned after their meetings with good food and action rather than determining the validity of the Pythagorean theorem. They don’t care whether or not pie are square, they only care how it tastes.
A one Horse Town: Perhaps not. We have the best entertainment in the world, the most convention space, and the finest dining establishments. We have the world’s largest hotels and the most hotel rooms. Bottom line of the bottom line is that Nevada is a one-industry state and Las Vegas is a one-industry town. But what more can one expect of a town located in the middle of a desert? A town that has no logical reason to exist. A town that has over three hundred days per year of sunshine? Well, how about bringing in some clean industry like, perhaps computer of electronics? Sorry, the population base is not well enough educated for high tech industries to adequately man the factories. Ok then, what about solar energy? With all that sun, why not take advantage? Our local power company is loathe to provide the kinds of incentives to make such research viable. Also, there are not enough scientists in the state to develop the kind of technology needed. We’d better expand our higher education system and infuse our pre-college system with funding to make Nevada the premier source of education. With a small population that should not be too difficult.
Pardon me, Gov: Surely the governor, a highly educated man and former military and commercial pilot would understand this problem and help out education. In fact, his budget is due out today. Let’s see what he has done to encourage education in our state. We’re in a financial bind. Our biggest industry is gaming – whose entities pay a fraction of their compatriots in New Jersey and other states. Perhaps we could bump gaming taxes up a bit to help education. Maybe the mining industry. Since precious metal prices have spiked, maybe we can tap them for a dollar or two for education. Of course there will have to be cuts, but with education spending in Nevada at the bottom of the barrel among the states, maybe they can be spared some of the cuts.
The former pilot crashes education: Governor Jim Gibbons just put forth his proposed budget which included $ 633 million in cuts to the state’s general fund. How did the nation’s poor cousin of education fare? Eighty-six percent, $ 547 million of the $ 633 million in cuts came from an education system that ranks close to dead last in funding already. The guv is attempting to gut a system that wallows near the bottom. Teachers, not known for being among the higher paid employees are scheduled for a 6% pay cut. These are the folks who take a portion of their own salary to buy supplies for their students. These are the people in whose pockets Governor Jim Bob is reaching. Oh, he agreed to cut his own salary from $ 150,000 not including perks. I’m sure any third grade teacher making $ 150,000, a car allowance, a free mansion, and other perks would also agree to a 6% salary cut. How did his cronies in the casino and mining industries and other businesses fare? Read his lips, no new taxes.
No question about it: The Guv is not doing anything that he did not promise – leaving his cronies untouched while the children of our state suffer through cutbacks. Yes, Martha, we deserve exactly the representation we elected.
A little blogging music Maestro: “You Left Me Just When I needed You Most,” by Randy VanWarmer.
Dr forgot
http://drforgot.com
Showing posts with label taxes. Show all posts
Showing posts with label taxes. Show all posts
Friday, January 16, 2009
Tuesday, April 15, 2008
Ticks Tax Talks
Golf and taxes: Drive hard to get to the green. End up in a hole.
Truth doesn’t hurt except on a 1040: Today is the day. Poor Richard’s Almanac 2008: The taxman cometh. Behind every successful man stands a good woman and the IRS. One takes all the credit and the other takes all the cash. A harp is a piano after taxes. Being poor is no guarantee you won’t be audited. If the meek inherit the earth I’m sure it will put them in the 40% tax bracket. Can you imagine Patrick Henry alive today? He’d see real taxation without representation. Finally on this topic, remember the old saw, “A penny earned is a penny taxed.”
The old high school reunion: Every five or ten or perhaps 20 years many Americans go back home to attend their high school reunion. We are always shocked at how old everybody else is looking, how the high school foxes now look like armadillos and the former geeks make you wonder why you didn’t notice them in high school. A friend of mine tells me that at his reunion his wife commented on a frumpy looking gal sitting alone at a nearby table drinking like a fish. His wife asked who she was and my friend said she was an old flame of his who took up drinking after they’d broken up and had rarely seen a sober day since. The wife commented, “My God! Who would think a person would go on celebrating so long?”
Dad, Can I drive the Popemobile: Seems like “W” doesn’t have much to do around the White House these days. Johnny Mac isn’t exactly bombarding him with requests for appearances at fundraisers and he can only go over to Putin’s house to play so often before he wears out his welcome. So Uncle Dick or Condi or whoever is in charge of such things had a great idea when they told him to take the limo and go pick up the Pope at the airport. I wonder if he plans to look into Pope Benedict’s eyes and see his soul.
Records are made to be broken: Today is tax day but that is not the only reason to say “Ouch!” At this writing oil prices have set another record at $ 113+ per barrel. That is neither light nor sweet but it makes a fellow want to say something crude about oil. Not only will that cause another jump at the pump but the bump will trump airfares. Stock prices will slump. Portfolios will dump. Employees will grump. We’re being played for a chump. Meanwhile Exxon and their pals continue to stump for more tax breaks.
Up up and Away: Southwest Airlines looks like it will move from the 6th to the 5th largest U.S. Airline without adding a passenger. If Delta and Northwest merge as expected, there will be one less company to rank. The merger will catapult the new airline (Nelta? Deltest?) to the #1 slot. Passengers will now have a much larger ogre to abuse them.
A little blogging music Maestro… anything from Air Supply would work.
Dr. Forgot
Truth doesn’t hurt except on a 1040: Today is the day. Poor Richard’s Almanac 2008: The taxman cometh. Behind every successful man stands a good woman and the IRS. One takes all the credit and the other takes all the cash. A harp is a piano after taxes. Being poor is no guarantee you won’t be audited. If the meek inherit the earth I’m sure it will put them in the 40% tax bracket. Can you imagine Patrick Henry alive today? He’d see real taxation without representation. Finally on this topic, remember the old saw, “A penny earned is a penny taxed.”
The old high school reunion: Every five or ten or perhaps 20 years many Americans go back home to attend their high school reunion. We are always shocked at how old everybody else is looking, how the high school foxes now look like armadillos and the former geeks make you wonder why you didn’t notice them in high school. A friend of mine tells me that at his reunion his wife commented on a frumpy looking gal sitting alone at a nearby table drinking like a fish. His wife asked who she was and my friend said she was an old flame of his who took up drinking after they’d broken up and had rarely seen a sober day since. The wife commented, “My God! Who would think a person would go on celebrating so long?”
Dad, Can I drive the Popemobile: Seems like “W” doesn’t have much to do around the White House these days. Johnny Mac isn’t exactly bombarding him with requests for appearances at fundraisers and he can only go over to Putin’s house to play so often before he wears out his welcome. So Uncle Dick or Condi or whoever is in charge of such things had a great idea when they told him to take the limo and go pick up the Pope at the airport. I wonder if he plans to look into Pope Benedict’s eyes and see his soul.
Records are made to be broken: Today is tax day but that is not the only reason to say “Ouch!” At this writing oil prices have set another record at $ 113+ per barrel. That is neither light nor sweet but it makes a fellow want to say something crude about oil. Not only will that cause another jump at the pump but the bump will trump airfares. Stock prices will slump. Portfolios will dump. Employees will grump. We’re being played for a chump. Meanwhile Exxon and their pals continue to stump for more tax breaks.
Up up and Away: Southwest Airlines looks like it will move from the 6th to the 5th largest U.S. Airline without adding a passenger. If Delta and Northwest merge as expected, there will be one less company to rank. The merger will catapult the new airline (Nelta? Deltest?) to the #1 slot. Passengers will now have a much larger ogre to abuse them.
A little blogging music Maestro… anything from Air Supply would work.
Dr. Forgot
Monday, April 14, 2008
Monday, Monday
A Drop of Ink Can Make a Million Think
Where Have All the Daddies Gone: The raid on the polygamist colony in Texas showed an interesting side of the practice. More than 400 children were rescued (yes, I use the term literally) and scores of adult and not-so-adult women were led away. But where were all the Daddies? And how do they support themselves? Simple! They do it the same way every despot does it – the “church” owns everything, all income is handed over to the “church,” women and children are kept in poverty, and when boys become “of age” they are often tossed out to eliminate competition for the middle age child rapists. Yet nary a word about this from any of our presidential candidates, not even during the “Compassion Forum” held last night.
One Less Iraq Attack: Richard Butler now counts himself among the fortunate. The British journalist for CBS had been captured by insurgents in Iraq but was rescued by Iraqi forces after two months of captivity. Upon his rescue Butler thanked his rescuers profusely. VP Dick Cheney responded, “Hold a reporter incommunicado? Why didn’t I think of that?”
The Odd Couple Revisited: You remember Oscar and Felix. They made a funny movie and funnier TV series, but now the concept has moved from the studio to the bedroom. As if sexual incompatibility, finances, and child rearing differences aren’t enough for couples to squabble over, a marriage counselor in Chicago now lists neatness as a top source of couple problems. A new broom might not sweep as clean as needed. I guess it is a good thing that Pigpen and Lucy from the Peanuts comic strip never dated.
Adam & Eve vs. Adam and Steve: In the good old days the adage was “The only sure things in life are death and taxes.” That might still be true but today’s tax burden is unequal for different groups. Tomorrow might be D-day for filing your 2007 taxes, but if you are a gay couple you will likely pay a higher tax rate than a traditional couple since some deductions are only for “married couples.” If the gay couple lives in a state that recognizes domestic partnerships or same-sex civil unions, same-sex couples could be required to file three sets of taxes. That means that some couples might be gay but they are not happy at tax time. (if you don’t get that one, ask your parents)
Don’t Trust Muggles Over 30: Harry Potter had a difficult time with wizards and even moreso with his adopted Muggle family. Now his creator, J. K. Rowling is having her own legal Muggle battle. She is suing a publisher of “Harry Potter Lexicon” over copyright agreements. The publisher defends the book as simply a reference guide. The publisher must be careful of being turned into a toad. (if you don’t get this one, ask your children)
A little blogging music Maestro… an oldie from the Platters, “Could This Be Magic?”
Dr. Forgot
Where Have All the Daddies Gone: The raid on the polygamist colony in Texas showed an interesting side of the practice. More than 400 children were rescued (yes, I use the term literally) and scores of adult and not-so-adult women were led away. But where were all the Daddies? And how do they support themselves? Simple! They do it the same way every despot does it – the “church” owns everything, all income is handed over to the “church,” women and children are kept in poverty, and when boys become “of age” they are often tossed out to eliminate competition for the middle age child rapists. Yet nary a word about this from any of our presidential candidates, not even during the “Compassion Forum” held last night.
One Less Iraq Attack: Richard Butler now counts himself among the fortunate. The British journalist for CBS had been captured by insurgents in Iraq but was rescued by Iraqi forces after two months of captivity. Upon his rescue Butler thanked his rescuers profusely. VP Dick Cheney responded, “Hold a reporter incommunicado? Why didn’t I think of that?”
The Odd Couple Revisited: You remember Oscar and Felix. They made a funny movie and funnier TV series, but now the concept has moved from the studio to the bedroom. As if sexual incompatibility, finances, and child rearing differences aren’t enough for couples to squabble over, a marriage counselor in Chicago now lists neatness as a top source of couple problems. A new broom might not sweep as clean as needed. I guess it is a good thing that Pigpen and Lucy from the Peanuts comic strip never dated.
Adam & Eve vs. Adam and Steve: In the good old days the adage was “The only sure things in life are death and taxes.” That might still be true but today’s tax burden is unequal for different groups. Tomorrow might be D-day for filing your 2007 taxes, but if you are a gay couple you will likely pay a higher tax rate than a traditional couple since some deductions are only for “married couples.” If the gay couple lives in a state that recognizes domestic partnerships or same-sex civil unions, same-sex couples could be required to file three sets of taxes. That means that some couples might be gay but they are not happy at tax time. (if you don’t get that one, ask your parents)
Don’t Trust Muggles Over 30: Harry Potter had a difficult time with wizards and even moreso with his adopted Muggle family. Now his creator, J. K. Rowling is having her own legal Muggle battle. She is suing a publisher of “Harry Potter Lexicon” over copyright agreements. The publisher defends the book as simply a reference guide. The publisher must be careful of being turned into a toad. (if you don’t get this one, ask your children)
A little blogging music Maestro… an oldie from the Platters, “Could This Be Magic?”
Dr. Forgot
Monday, January 14, 2008
Money, Money, Money - Its A Rich Man's World
Votes "Fore" Sale?
Nevada is having problems making ends meet. Join the club. Governor Terminator of the Earthquake State next door has it even worse and has proposed drastic budget cuts. Ditto our own Guv who first said that K-12 education would avoid the 8% tax cuts of higher education system, prisons, social programs, and nearly every other state agency. Then he told the little kiddies, "Not!" and said millions had to be slashed from the peanut gallery budget. No exemptions. No excuses. Nobody gets to avoid the slashes.
"Twenty lashes," responded the teacher's union. "Not only is the Guv a liar, liar, pants on fire, the gaming industry isn't paying their fair share. We need money to educate the kids and since some states tax their gaming at a rate several times higher than Nevada, how about tacking on a few percentage points for reading, writing, and 'Rithmatic?"
"Blasphemy!" cried the gaming industry, "It will kill tourism. People will go elsewhere to dispose of their disposable income." And so it goes, from entity to entity. Everybody wants what taxes bring but each entity feels the tax burden on them is unfair, should not be increased, and if anything, should be lowered.
Then there are the golf courses. Some clever lobbyists in the year two thousand and "fore" crafted a provision and quietly slipped it into an assessor's bill that was sent it to the legislature. The provision would revalue the golf course property and lower taxes a little. How little? Assessed values changed from $ 25,000 per acre to less than $3,000 per acre. Remember, it was during a time that property values in Nevada were climbing like skyrockets in flight - a real afternoon delight.
And the taxes that were due on the golf courses? Quicker than you can say, "Meet me at the 19th hole for a drink," taxes on one of the parcels on a private hotel golf course dropped from more than $ 5,000 to $ 13 and change. Another parcel at a different private golf course got its taxes out of the sand trap - $ 134,000 in 2004 to $ 72,000 for the current year. The rates contributed to a huge budget divot of the state's $ 450 million shortfall.
The provision, it seems was, was drafted by Senator N. O'Tme and Assemblyman I. Dunno since nobody can remember who sponsored it. But the 60 or so golf courses in the Valley of the Dollars and double that number statewide have benefited by not having to pay hundreds of thousands of dollars in taxes compared to previous years. Lobbyists for the golf industry claim the tax breaks are necessary or the golfers will flee to Arizona and Florida to seek their par. That's like saying gasoline is cheaper in another state so that's the place to buy it.
Then there is the "obsolescence factor," a complicated formula that is designed for golf courses that shut down in winter months to only pay taxes on the equivalent of the months they are open. Even though the calculation is designed specifically for winter weather courses, the loophole can be applied to all courses allowing them to further eschew their tax burden. Hole in one? Sounds like some legislators had a hole in the head when they voted for this one.
A little blogging music Maestro... "18 Holes" by Gus Van Sant.
Dr. Forgot
Tuesday, January 1, 2008
7-7-7 You're a Winner! And a Loser
Ka-Ching... ker plop
Californians are the biggest liars in Las Vegas. Years ago when I first arrived in Las Vegas as a young, struggling schoolteacher I took a second job as a taxi driver and later as my wardrobe improved, a limousine driver. Whenever people would get into my cab or limo I'd always chat with them - "Where are you from? How are the casinos treating you?" etc. Most fares were from California. That is not a surprise as more than half of the visitors to the Valley of the Dollars come from San Andreas by the Sea. What surprised me most is that they would nearly always answer, "I broke even."
I'm here to tell you that if every visitor to a casino broke even, Las Vegas would still be more desert and gulches than concrete and neon. Of course, SOMEBODY has to win a jackpot occasionally. That's one of the things that keeps visitors returning to our oasis. With that in mind, the favorite of all government agencies, the IRS reminds us this time of year to read their Bulletin 419, "Gambling Income and Expenses."
A CPA friend of mine tells me that ALL income is taxable, even the change that you pick up in the parking lot because your kid is too lazy to bend over. Your kid might be lazy but he might not be so stupid since he will not have to declare the parking lot change as income. Although the casual gambler rarely reports casino or track or even internet gaming winnings, the IRS requires it. Three sevens might turn out to be lemons. Be careful how loudly you yell, "Bingo!"
The IRS allows you to deduct losses as long as those deductions don't exceed your winnings. And they want you to keep a log if you plan to deduct. No, not those tallys that casinos provide you. You know, the ones that have disclaimers printed on them? Nope, Uncle Sam wants YOU to keep detailed logs of how often, how much, when and where. Kind of takes the fun out of impulse gambling, but the more information you can provide the better your chances you'll be believed when the tax man cometh.
Want to be a professional gambler? That doesn't mean you place a bet on the Raiders for your brother-in-law. The IRS has recently established a designation of "professional gambler" for those whose frequent gambling activity serves as their primary source of income. The pros get to deduct related expenses such as hotel stays, car rentals, etc. But most gamblers are simply weekend warriors or day trippers upon whom Lady Luck occasionally smiles. If you fall into that category, the IRS wants you to share that information. And when your auditor asks you how you did at the tables, don't say you broke even. He'll know you're lying even of you're not from California.
A little blogging music Maestro... How about The Gambler, Luck Be A Lady, or even Camptown Races?
Dr. Forgot
Friday, December 14, 2007
Las Vegas Happenings
Snippets of Events
Ride 'em Cowboy: Plenty of goings on to celebrate the Valley of the Dollars this week. Pickup trucks have replaced limos as the primary means of transport among attendees of the National Finals Rodeo events. Of course, bucking broncos, Brahma bulls, and bareback steeds are among the means of transportation inside the Thomas and Mack Center, although some of the rides have been briefer than the cowboys had hoped. Wearers of huge silver belt buckles and their posses will have pumped more than fifty million smackeroos into the local economy during their stay. Yeeee-haw!
Palazzo Lallapalooza: One thing hotels and casinos do really really well is market. "Marketing idea of the season" goes to the Las Vegas Sands Corp. that decided to merge swinging hips with rose hips and enter a float for their Palazzo Hotel in this year's January Rose Parade. Never heard of the Palazzo hotel you say? That's why it is so brilliant! The $ 1.8 billion hotel will announce its opening to 40 million television viewers who watch the parade. The float will also show off the Palazzo's sister hotel, the Las Vegas Venetian. A brilliant idea by any other name doth smell as sweet.
Teaching is Taxing: Everybody knows that teachers are overworked and underpaid. Nowhere is that so evident as in Las Vegas. Reading, writing, and 'rithmatic may be taught to the tune of the hickory stick, but teachers need salary to pay for their cups of joe and celery. Each school year starts with thousands of teaching positions absent licensed teachers in large part due to poor salaries. The teacher's union did its homework and decided the gaming industry had not contributed its fair share of taxes. It hopes to send a discipline slip to the voters that will increase gaming taxes to pay for education.
Casino Execs Disrupt Classes: In junior high school many a fight has been started by talking about somebody's mother. In Nevada, fights start by talking about raising gaming taxes. Several big guns who collectively are building $ 14 billion worth of new resorts have told the teachers union, "Don't paddle my canoe." They are willing to write 100 times on the chalkboard, "We will not pay higher gaming taxes." The proposed 3% increase is not the new math gamers want to calculate. They want educators to look for the jackpot in another classroom.
Las Vegas Sings "O Solar Mio:" The Valley of the Dollars boasts more than 350 sunny days per year yet it continues to use the falling levels of the Colorado River, Hoover Dam, and Lake Mead as its primary source of energy. That's where the water turns the turbines that create electricity. With all the sun shining over the valley, developing solar energy resources seems to be a no-brainer. That's exactly what the solar company Ausra of Palo Alto, CA thought when it decided to build a huge solar thermal assembly plant in Las Vegas. The company makes solar power collectors. Las Vegas has as much solar power as anywhere else.
With that we will end today's blog. Maestro, how about a little blogging music.... lets do, "You Are My Sunshine."
Dr. Forgot
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