March 21, 2011

The mining industry has had it their way for too long. They pay a half a percent in taxes on $6+ billion a year on gold mined from Nevada.  They have misrepresented their position and stonewalled for decades and convinced too many that they pay their fair share. It's not so and they know it. That's why they have so many lobbyists at the legislature.

Now, it seems the State Taxation Department does not have an experienced auditor who can review the net proceeds tax collections from mines. This deficiency has been known at least two years and allegedly Sandoval does not know about it. Apparently, the major gold producing companies, Barrack and Newmont have not been audited for several years or more.

Net proceeds is the same taxing scheme mining created for their benefit and not ours and which has given them low taxes on billions and billions in profits. Like I said in January, the people running this state are mining and gaming. See my post: "Guess Who’s Running the State!", January 11, 2011.

For a refresher... here was my list based on who paid for Sandoval inauguration festivities... I am sure it hasn't changed much!

Barrick Gold

Las Vegas Sands Corp

MGM Resorts International

Retail Association of Nevada

Silver Legacy Reno