Nevada, of course, has no state income tax. It's generally a rather conservative state, fiscally, and the state budget will always be cut close to the bone. Nevada has been hit hard by the fall of the housing market. So, yes, the state government is having to cover a few hundred million dollar shortfall.
In thinking about how big this problem is, keep in mind that a few hundred million amounts to what the US will spend on the war in Iraq in less than 2 days.
The gambling industry in Nevada is thinning itself down, and that is affecting Nevada some. That has more to do with the Indian casinos in California than anything else.
Overall, though, don't worry about Nevada. The economy in Nevada is doing quite well. Lots of California businesses move there to get cheaper land, less traffic, better tax policies, and cheaper and more dependable energy. It's a bustling place, where a person can make a buck.
Last edited by regularguy : 11-08-2007 at 02:59 PM.
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