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Friday, Nov. 30, 2012 | 2 a.m.
Another view?
View more of the Las Vegas Sun's opinion section:
• Editorials - the Sun's viewpoint.
• Columnists - local and syndicated writers.
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Have your own opinion? Write a letter to the editor.
I disagree with Gaye Deen’s letter to the editor on Sunday, “Gaming can afford to pay more,” which stated that the gaming tax should be raised on Nevada casino owners.
Steve Wynn, Sheldon Adelson and Kirk Kerkorian, along with others, have contributed quite a lot to the formation of the new Las Vegas in the past 25-plus years. Each new hotel opening brings thousands of new jobs and more needed business along with revenue from taxes such as sales tax, property tax, etc.
I would rather see a lower gaming tax collected than a halt to any new future hotels being built in our state.
If anyone thinks Wynn, Adelson, Kerkorian and other casino owners are done building or adding on to existing properties, guess again.
We haven’t seen or heard the last from these job-creating, visionaries. They will continue improving and building, and that will add jobs and revenue for our state. Regarding taxing gaming, be careful what you wish for.
I agree with Sam's point. I first drove down Las Vegas Blvd in 1990 as a 20 year old during a visit. My next drive down the strip was in 2008 and boy was I shocked to see how it had changed since the early 1990's. The visionaries got it right and their contributions has helped the city grow and prosper. Many still come to visit Las Vegas for the entertainment value with the strip and the luxurious hotels being the main attraction. Kudos to the visionaries for making a dry hot desert location a place to vacation and visit, otherwise, who would come here in these conditions? I say very few.
Bravo Sam. Spoken like a Romney-Republican.
CarmineD
Macao has an average gaming tax rate of 39% versus 6.75% in Nevada. That doesn't seem to be slowing down our home-grown "job-creating visionaries".
"Macao has an average gaming tax rate of 39% .." @ Jim Weber
Are you sure?
"Macau Individual Tax Rate:
"Macau (also spelled 'Macao') individual income tax is levied at progressive rates from 7% to 12% on annual taxable income exceeding MOP 120,000.
An individual employed to work for a Macau entity but who does not possess a valid identity card or work permit issued by the Macao government will be taxed at a rate of 5% or computed in accordance with the progressive rate method, whichever is higher.
Basis -- Individuals are subject to professional tax (equivalent to personal income tax) if they have an employment relationship with a Macao entity.
Residence -- An individual is considered resident if he/she holds an identity card issued by the Macao government. Individuals temporarily present in Macao on work permits also are subject to professional tax.
Tax Filing status -- Professional tax is charged on an individual basis.
Taxable income -- All monetary and nonmonetary benefits granted to employees are taxable.
Capital gains -- No
Tax Deductions and tax allowances -- Limited personal allowances are available.
Other taxes on individuals:
Capital duty -- No
Stamp duty -- See under "Other taxes on corporations," below.
Capital acquisitions tax -- No
Real property tax -- Property tax is levied either at 10% of the rental value assessed by the government or 16% on the actual rental income generated. An additional 5% stamp duty is levied on the tax payment, making the effective tax rates 10.5% or 16.8%. Exemptions are granted for newly constructed, with the exemption period varying by the location.
Inheritance/estate tax -- No
Net wealth/net worth tax -- No
Social security contributions -- Resident employees must contribute MOP 15 per month to FSS. Work permit holders do not contribute to FSS (instead, employers must contribute MOP 45 per month per work permit holder).
Administration and compliance:
Tax year -- Calendar year in Macao is the calendar year.
Filing and payment -- Employers withhold professional tax on employment income on a monthly basis and remit it to the government on a monthly or quarterly basis, depending on whether the employees are residents or work permit holders. Employers also must file an annual tax return for employees.
Tax Penalties -- Penalties and interest apply for failure to comply.
macau Corporate tax
Macau corporate tax is levied at progressive rates ranging from 9% to 12%."
CarmineD
CarmineD
Check out the GAMING tax rate. Even after I reviewed the rest of your data, I'm not interested in relocating. :-)
ByPisces41(Jim Weber),
"Macao has an average gaming tax rate of 39% versus 6.75% in Nevada. That dosen't seem to
be slowing down our home grown "job creating visionaries".
China has a population of 1 billion,339 million,724 thousand,852,people to draw from in their casinos.That does take into account the millions of other Asian countries that flock to China for gambling.
The United States has a population of 310 million people to draw from to our casinos.Hardly a comparsion when you lineup both countries.
China could charge 50% gaming tax,and that would not put a dent in the what gaming companies make in profits. The people will still flock to Macao to gamble.
It's been said that 73% of all gaming profits are made in China for these same American gaming companies. American gaming companies are not the problem of our slow economy,but they could ignite a rise of jobs here in Nevada as the economy improves.
Is it possible to discuss taxation without someone bringing up the nations 400 billionaires. I don't think they need as much sympathy as they are getting.
In recent earnings reports gaming in Macao has slowed. What region has generated strong growth? Vegas baby! We will get more casinos when the market situation warrants additional growth. The above are well into their golden years and can barely stand up on their own. Others will take their place when the time is right.
Carmine,
"Bravo Sam.Spoken like a true Romney - Republican".
To me politics should not factor in for the well being of our state and it's citizens.I'm sure you feel the same way as I do.That is for our state to move ahead with more jobs and increased revenue from taxes collected.
"CarmineD
Check out the GAMING tax rate." @ Jim Weber
Whoa! 35 percent plus add ons of 2 % and 2 % for incidentals.
CarmineD
"I'm sure you feel the same way as I do." @ Sam Speaks
Yes indeed.
CarmineD
Carmine whats of interest to me was during the campaign, most of these posters were going after Adelson and Wynn because of the money they donated and commented on how they weren't job creators. Now that the election is over, we read how they want the Wynn's and Adelsons to invest here in Vegas. It would be nice if people stayed thier course. Geez talk about Flip Flop. Wait till next year, or say 6 months from now when all these new and wonderful taxes kick in.
"Carmine whats of interest to me was during the campaign, most of these posters were going after Adelson and Wynn.... " Chuck333
I thought the same exact way as you...BUT didn't want to bring up the pre and post-election discussions again.
I choose a candidate with the core values that are in tune with mine for the best interests of the local, state,and national needs for the times and needs. Then, I stick with him or her unless they go afoul. Money and party are irrelevant. What's the best for the electorate?
WRT to the wealthy, they have the right to spend their money as they want. It's not my concern. I'm concerned, as you aptly said here many times, how elected leaders, or those that would be, spend the taxpayers' and my money.
CarmineD
Carmine,
Dec.1,2012 3:57am
"I choose a candidate with the core values that are in tune with mine for the best interests of the local,state,and national needs for the times and needs.Then I stick with him or her unless they go afoul.MONEY AND PARTY ARE IRRLEVANT, WHAT'S BEST FOR THE ELECLORATE".
On Nov.27,2012 4:00am you posted that"TRUTH BE TOLD MONEY DID BUY THE WHITE HOUSE ELECTION".
This is just the opposite of what you posted today Dec 1, 2012 3:57 am. What is your true position on the outcome of the past election? Is money really irrlevant to you?
Sam:
You're confused. Let me clarify for you and others who may be. In my post to Chuck333 today WRT candidates I support, I was referring to their personal wealth and party. Not what they spend to campaign and get elected which is the subject of the previous thread you posted. In other words if they are rich, poor, or in-between, Republican, Democrat, Libertarian or Independent, if their core values for the country and electorate are consistent with mine, I'll support/vote for them.
CarmineD
Carmine,
"Sam you are confused,Let me clarify for you and others who may be".
I'm not confused you are,with your B.S. response back to me and others. You claim money is irrlevant in one post.Than claim that money did buy the white house election in another. You can't have it both ways.Stop with the double talk.It does not sound good with your differing points of view.
Sam:
You're still confused Sam. I have a BA.
You're mixing apples and oranges. A candidate's personal wealth, [nothing to do with money spent to campaign and win election] should not be a factor for his/her merits to hold elective office, even the presidency. If it is, it eliminates alot of very qualified candidates for public service.
CarmineD
Carmine,
"Sam: uou're still confused I have a BA."
I could care less what you have,I was raised in the streets of upstate N.Y. In one of the toughest neighborhoods in that area,you have no idea.I'm a street wise guy.I know B.S. when I hear it.Being raised in that environment does not make me out to be anything special.Just wise to B.S.
Changing the the subject and adding words does not change what you seem to think you can fool people about. It took me a while to figure you out, now I have you down. Save the B.S.for some one else.
Hey Sam I was raised in those same upstate New York streets and I also can recognize the BS!
So yes I agree save the BS for someone else.
Sam:
Great. We're both lucky to have had similar upbringings. Newark and NY. We have alot in common.
CarmineD