Tax plan fails Economics 100

EDITOR:

The Horsford/Buckley huge tax increases will do major damage to the already fragile Nevada economy.

First, it will take huge sums of money from the fragile economy leaving the citizens less money to spend for goods and services which support jobs and pay taxes.

Businesses do not pay taxes - they collect the money from their customers and give it to the state.

Second, with higher taxes and less consumer spending, more businesses will have to lay off more employees or simply close their doors putting still more people out of work.

Third, with more people out of work there will be more foreclosures.

All Nevada citizens will suffer in a longer and deeper recession.

Horsford and Buckley and the 2009 Legislature have failed Economics 100 while Gov. Gibbons understood the economics and did his best to do the right thing for the citizens of Nevada.

Thank you Gov. Gibbons for your efforts to protect the citizens of Nevada.

Stuart L. Posselt

Minden