inflation

Sunday, Assemblyman Erv Nelson and others broke their key election promises to fight huge destructive tax hikes and make state government operate reasonably. Nelson used glittering generalities and platitudes to explain that he didn’t really understand matters very well back when he made his promises, even though he’s an experienced lawyer. But now he understands and so has changed his mind.

If he thinks he now understands matters correctly, then he must logically also believe that folks who voted for him based on his promises don’t understand.

Especially older adults have a choice to consider, rent or own a home? Like most questions, it gets answered with more questions.
Do you want to stay in your home in retirement or do you want to move? If you stay, what will it cost for property taxes, insurance, maintenance, repairs and utilities? Will that total housing cost be easy or difficult to pay on the retirement income?

Weekly wages in Nevada increased slightly, averaging $840 during the third quarter of 2014, the second highest third quarter reading on record, according to the Department of Employment, Training and Rehabilitation in a news release Friday. This compares to $836 a year ago, a gain of just 0.5 percent.

Democrats, modern liberals and progressives often say they’re concerned about income inequality. So, they propose more redistribution: higher taxes on the well-off and higher public subsidies for others.

Adding subsidy increases to their ever-growing regulatory system and other public spending drove total government spending relative to our economy to record post-WWII levels under President Obama. Yet they still want more.

One of the best investments is the money you save in a retirement account. Whether it is the salary deferral savings at work or the IRA contribution or some other retirement account contribution does not matter. Whatever you save will be a benefit to you or your heirs in the future.

The following is in answer to Brendan Trainor's RN&R Nov 6th column, The power of gold and silver.

http://www.newsreview.com/reno/power-of-gold-and/content?oid=15407117

Brendan Trainor's "Austrian School" theories won't add to his understanding of the real world of banking and finance.

Well it happened again. A lady died in August 2010 but the heirs prepared their own form 1041 Income Tax Return of Estates and Trusts. The heirs used the original cost of many years before death when they should have used the fair market value at date of death.

The form 1041 they prepared showed big capital gains for the four beneficiaries to be taxed on (since they got distributions that year). The correct answer is instead of each of them being taxed on about $60,000 of capital gains, they should each only be taxed on about $10,000 or so.

This is in reference to
1. http://carsonnow.org/reader-content/11/01/2014/amodei-and-minimum-wage
2. http://carsonnow.org/reader-content/10/28/2014/dave-cook-demonstrates-ex...
3. http://carsonnow.org/reader-content/10/25/2014/letter-one-year-obamacare...

These recent articles are a faithful representations of the Party Line. Of course that party line is dead wrong, but at least the writer does a good job presenting it.

When Rep. Mark Amodei voted against raising the federal minimum wage (H R 803, March 15, 2013), I had to wonder what he was thinking. Anyone who understands even a little bit about the economic history of this country knows that voting to keep the minimum wage where it is now is a vote to keep millions of Americans in poverty and dependent upon welfare just to survive.

When I’m asked about Obamacare, I use it as an opportunity to show how much difference progressive change can make. Open enrollment began one year ago, on October 1st, 2013. The websites had a rocky rollout, but 10.3 million Americans who had no health insurance a year ago now have coverage.

A few clients have been pleasantly surprised to find their long term capital gains were not taxed at all. That happens when the total taxable income, after deductions and exemptions, is low enough to not be taxed at more than 15 percent.

The American Taxpayer Relief Act (ATRA) is the source of this special tax benefit. And it also works for dividends that are “qualified” (paid by an operating company out of profits-subject to some special definitions).

President Obama announced a new kind of retirement plan called “MyRA.” It won’t do very much to reduce your income taxes because the contributions to this new retirement savings plan are not deductible on your tax return. It is your account and you keep it if you change jobs.

The accounts for this plan will be funded or paid with what wages are left after payroll deductions. It is paid from what you have left after taxes.

It is important for seniors to have a long term care plan. Many folks dread and avoid discussing this planning. They know about seven out of ten folks that reach age 65 will require some form of long term care during their lives. They hope it is not them.

Rational Carsonites carefully deploy their finite personal capital for maximum value and tangible results. Conversely, our city's officials serially ignore the value proposition, favoring redundant, feel-good projects lacking objective analysis, justification and worthwhile benefits. Core civic services and infrastructure maintenance suffer.

The recent initiative to raise sales taxes, projected to saddle taxpayers with $15 million of additional long-term debt, is largely ($13 million) targeted for more indoor basketball courts and arterial street beautification projects.

Average weekly wages in Nevada measured $829 the second quarter of 2013, the highest reading for the three-month period on record. Nevadans are earning 1.8 percent more than this time last year, said Bill Anderson, chief economist for Nevada’s Department of Employment, Training and Rehabilitation.

Even the wise, kind and responsible Disney nanny character would face a daunting task were she presented with the continuing public policy fiascos in our troubled town. Mary handled her unbridled charges with aplomb and urgency. Many of our elected and appointed officials need to employ these traits.

State Fair

The 75th anniversary of the Nevada Day Parade will be celebrated on Saturday, October 26th, 2013 in Carson City and is expected to produce record-breaking attendance.

The day-long experience is kicked off with the opportunity to ride in a hot air balloon. This is a rare opportunity to participate in a mass ascension with a downtown lift-off in Carson City. A downtown lift-off is extremely rare in the hot air balloon industry. Individuals and businesses can sponsor a balloon, which includes the opportunity to ride in the balloon during the event.

It was time to do something I’ve been putting off for months. Reinstalling the tubeless tires on my mountain bike. Not only is the task time consuming compared to a simple inner tube installation, but you also need an air compressor, a piece of equipment I don’t have. So as is customary, I picked up some quality beer, and headed over to my friend’s house to get this project done.

Sometimes it takes a while to get the big picture, to see things coming into focus. Now, I am not much for conspiracy theories, but if anything looks like it is being driven by design, this is one. The theories driving it were formulated many lifetimes ago. The people whose sick minds spawned them are long dead. For the life of me I do not understand how any egomaniac could possibly get his jollies from a trend he might have started but maybe not even his great-grandson might see coming to fruition. But there it is, a hundred year timeline on several fronts.

Destruction of money


Weekly wages for Nevada workers continue to show improvement, indicating the state’s economy is on the mend, said Bill Anderson, chief economist for the Nevada Department of Employment, Training and Rehabilitation.

“Average weekly wages in Nevada have been trending up since bottoming out in the recession,” Anderson said in a news release. “Specifically, during the first half of the year, wages in Nevada averaged $830, a rise of 2.6 percent relative to the first half of 2011 when they came in $809 per week.”

This is in reference to the Letter: Think before you vote, Carson City Nevada News - Carson Now.

CARSON CITY – About $87 million in state taxes that could be parlayed into 10 times as much to pay for critical road improvements are ready to flow to the state Department of Transportation next year, but there are concerns the money could be diverted to other needs.

CARSON CITY – Nevada is one of four states to receive an “F” grade for student access and success in its higher education system from the Institute for a Competitive Workforce (ICW), an affiliate of the U.S. Chamber of Commerce, in a report released this week.

CARSON CITY – A consultant hired by the cities of Henderson and Las Vegas to analyze the process used to distribute taxes to the counties and cities told lawmakers today the formula now used to make the allocations has weaknesses.

CARSON CITY – State personal income rose an average 5.1 percent in 2011 after rising 3.7 percent in 2010, according to estimates released today by the U.S. Bureau of Economic Analysis.

State personal income growth ranged from 3.4 percent in Maine to 8.1 percent in North Dakota.

Nevada saw personal income growth of 4.1 percent, ranking the state 47^th in the percentage change from 2010.

CARSON CITY – There are a few withdrawals in vacation destinations like New Orleans and Hawaii. There are a few from such tourist locations as Angel Stadium in Anaheim, SeaWorld San Diego and Pier 39 in San Francisco.

There are about 1,600 withdrawals in more than 35 states and the territory of Guam. And there are about 100 withdrawals at liquor stores and quite a few at Nevada casinos or slot parlors.

Now that the new Carson City Center/Nugget Project plans have answered many of the concerns of critics, one of the last big issues is the 1/8th cent increase in the sales tax to help fund the project.

But that may also be going away, replaced by fees collected from those dumping trash at the Carson City Landfill.

CARSON CITY – When Jeff Mohlenkamp decided to accept the job as Nevada’s newest budget director, he knew going in it was going to be a challenge.
The state’s economic slump continues to be a drag on funding government services, although gaming and sales tax revenues have shown some improvement in recent months.

With the feds locked in battle over what to do with our surmounting budget crisis, one word that seems to be creeping into vogue again is inflation. For gold and silver, it appears that new and gre...

The GOP budget bill that garnered nearly every Republican vote in Congress has been much discussed these past few weeks, as has the author of this bill, the party’s economic “genius” Rep. Paul Ryan.

The part of the bill that privatizes Medicare, dubbed “VoucherCare” by some, has taken up most of the discussion. But when I look at the other parts of the bill, I’m amazed that conservatives are lining up to support this nutty plan.