MORE FAMILY INCOME TAX FREE

The Trump tax reform would make the first $24,000 of family income tax free. The N. C. Senate’s middle class tax cut will make the first $20,000 of family income tax free. The plans are on the table. The State Senate has already voted to make the first $20,000 of family income tax free. So here’s the question: Will the … Read More

SOCIALISM, SANDERS AND STARVATION

The polls say Bernie Sanders is the most popular politician in America. Sanders. The socialist. Meanwhile, the average Venezuelan has lost 19 pounds as people slowly starve amid a collapsing socialist economy. Yes – a socialist economy. A Bernie Sanders style economy where free markets and individual initiative are smothered by government control and bureaucratic dictates. Venezuela once was rich. … Read More

TAX CUTS BOOST REVENUE

Do tax cuts blow up the budget? History says no. In FY 2014, Fiscal Research projected revenue collections in the future. And then the conservative majority cut taxes. With tax cuts, actual revenue still exceeded the projections made before the tax cuts were passed. Faster economic growth generates government revenue and tax reduction helps the economy. Revenue Projection Revenue Collection … Read More

RECRUIT AMAZON TAX REFORM?

Buried in the Senate’s Billion Dollar middle Class Tax Cut is a corporate tax change rewarding companies that invest and create jobs in North Carolina, while penalizing companies that simply ship products to North Carolina consumers from out of state without necessarily investing anything here. The reform is called Market Based Sourcing, but it ought to be called “Bring Jobs … Read More

ATTACK ON TAX CAP BEGINS

The predictable backlash against allowing the people to vote on a Constitutional Amendment putting a cap on how high politicians can raise income tax at no more than our current 5.5% has begun. Just like the pigs in George Orwell’s Animal Farm book-summary thought some animals were more equal than others, the News & Observer is angry everyone now pays … Read More

CORPORATE TAX RATES MATTER

The media would like us to think lower corporate taxes won’t affect business expansion and job creation. But just check out this list of American corporations that transferred to other countries with lower taxes using a process called inversion. That’s powerful evidence tax rates do matter. Conservative reformers began cutting corporate tax rates in 2013 and now we have the … Read More

30 STEAKS

Harris Teeter had filet mignon steaks for $11 apiece the other day. You can buy almost 30 of them with the savings the conservative Senate majority wants to provide your family on state income taxes. Their new billion dollar middle class tax cut plan raises the standard deduction by making the first $20,000 of family income tax-free. Their plan cuts … Read More

CHOICES AND COOPERATION

In his budget and State of the State address, Governor Cooper dumped a grab bag full of spending notions on the table while avoiding choices. Example: The Governor wants double-digit raises for teachers who already average about $50,000 a year. Equal raises for good teachers and bad teachers. Nothing about rewarding our best with bigger raises or changing the tenure … Read More

BLOCK THE TAXERS

With support from two Democrats, Senate conservatives passed the Constitutional Amendment freezing income tax rates at no higher rate than our current 5.5%, the lowest among North Carolina’s bordering states. House members should jump aboard the tax cap, which is backed by 68% of voters. Under Democrats, our tax rivaled New York‘s at over 8%. And our economy stagnated. But … Read More

WICKER SAYS TAXING CAP WOULD PASS

Asked on N. C. Spin if he thinks a Constitutional Amendment capping income tax at 5.5% would be approved by voters, former Lieutenant Governor Dennis Wicker said ”I think it would pass.” He’s right. Voters are fed up with politicians and would gladly clip their power by limiting their ability to tax. Currently, the politicians in North Carolina can raise … Read More