Each week I have been writing about the Nebraska Taxpayer’s Bill of Rights. The Nebraska Taxpayer’s Bill of Rights will be included in legislation I will introduce in January for the consumption tax. So far, I have discussed the failures of the income tax, the property tax, and the inheritance tax. This week I will explain why the consumption tax works better than any other form of taxation.
Three ballot issues from the initiative petition process cover casino gambling at licensed Nebraska horserace tracks, the regulation and taxation of that activity and the distribution of the proceeds. They are: Initiative Measure 429, a proposed constitutional measure allowing casino gambling at licensed horse race tracks; Initiative 430, a proposed law setting up a regulatory framework for the casinos; and Initiative Measure 431, a proposed law to tax the casinos and direct most of the tax revenues to property tax credits.
Nebraska voters face six statewide questions in November. Four are statutory initiatives proposed by the initiative petition process. Two are constitutional amendments proposed by the Legislature. Today we’ll look at those amendments and one of the initiative petitions.
Last week, I proclaimed October as Manufacturing Month in Nebraska to recognize the great work of our state’s innovators, builders, and creators. While most people recognize agriculture as Nebraska’s top industry, it’s also important to recognize that manufacturing is our second-largest economic sector.
As you may know, each week I have been writing about what I am calling the Taxpayer’s Bill of Rights. Last week I discussed what is wrong with taxing incomes. This week I will expose what is wrong with taxing property. Property taxes come in two forms, personal property taxes and real estate taxes. In Nebraska personal property taxes are imposed on all business equipment, whereas real estate taxes are imposed on commercial, residential, and agricultural real estate.