N.C. Senate Republicans' tax overhaul plan

From the Fayetteville Observer
By Gary D. Robertson
The Associated Press

RALEIGH - Senate Republicans unveiled details about their long-awaited tax overhaul proposal Tuesday, saying that lower income tax rates and expanding the scope of the sales tax is fair to all, will boost the state's economy and cut taxes for most people. But critics say lower-income people will pay more overall.

The three-year plan would reduce individual and corporate income tax rates as well as cut the combined state and local sales tax that consumers in most counties pay from 6.75 percent to 6.5 percent. The plan would eliminate the estate tax.

But the overhaul would make North Carolina's sales tax base one of the broadest in the country by eliminating exemptions and expanding it to apply to most services
----------------------

Check your own taxes for state with a calculator online. I will pay more taxes not less. This is not a tax cut as promised by the GOP. It is another tax break for the well-to-do.

Comments

Don't Stand Too Close to Phil Berger

When he says this is the "Tax Fairness Plan", lightning is likely to strike.

Although the effluent flowing from Jones Street has been a gusher, this tax plan in particular really demonstrates the extremist nature of the ALEC-controlled GOP. It is deplorable and indefensible.

But the only way that some of the sting might be removed before its ultimate passage is when certain legislators react to protect their own self interests (granted, the plan overall is designed to protect Art Pope's interests). Aren't many legislators small business owners, or attorneys, or doctors or other service professionals? Won't some of them be a little bit bothered that their products and services will cost 6.5% more?

The second shoe will drop when Phil specifies his unspecified "spending cuts".

Sadly, I fear that North Carolina is going to show the rest of the nation how they would have fared had Spit Romney and Appalling Lyin' been elected last fall.

-------------------------------------------------------
"I will have a priority on building relationships with the minority caucus. I want to put substance behind those campaign speeches." -- Thom Tillis, Nov. 5, 2014

Tell your legislators this plan is a bad idea

From the NC Justice Center today

Tell your legislators this plan is a bad idea for North Carolina.

It’s time to raise the red flag on the Senate’s tax shift plan released this week.

This plan continues the Great Tax Shift by forcing middle and low-income families to pay more while giving a tax cut to the wealthiest individuals and corporations. While the Senate has not yet released specific legislation, the proposal they released with a press conference, video and website outline the general message: cuts to the personal and corporate income tax and increasing goods and services that are subject to the sales tax.

This change shifts a higher tax load to middle and low income families while cutting taxes for millionaires. For example, according to the Senate’s own calculations, taxes would be cut by $55,000 for millionaires and a family living at the poverty level would pay $1,000 more in taxes. The Senate tax plan also puts our vital public services and infrastructure at risk, reducing state investments by $1 billion, roughly equivalent to the entire community college system budget.

It is time to urge legislators to stop all proposals and legislation that would hurt working families and our cherished public investments.

Tell your North Carolina legislators to stop
putting our vital public investments at risk and shifting the tax load to working families to fund tax cuts for those at the top.

Martha Brock