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Consumer Spending Leveling Off, Affecting Tax Revenue

The amount of revenue Nevada draws from taxes is growing at a much slower pace than it did decades ago, and a new report says income inequality is partly to blame. A report by credit ratings agency Standard & Poor's found that stagnant wages among the masses have dampened consumer spending, which in turn affects state revenues. It especially affects states like Nevada that depend heavily on sales tax and don't tax income.
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KNPR’s Morning Edition Host, Rick Andrews, joined Nevada Public Radio as an announcer in 2003, shortly after we split into two stations.