About those tax cuts

If you're wondering why NC's education budget is being gutted, wonder no more:

Berger said he expected there would be a joint meeting of the Senate and House finance committees next week to discuss a tax cut package that would be worth roughly $230 million in the year that begins July 1 and roughly $400 million the year after.

And if you're wondering just who's going to benefit from that idiotic loss of $630 million in revenue during a budget crisis, wonder no more:

The N.C. Budget and Tax Center will be releasing a full analysis of the Senate’s tax cut package next week, but, not surprisingly, the unfairness of the plan is already evident in preliminary findings.

According to their initial estimates, the average annual income tax cut for people in bottom quintile (i.e. the lowest 20% of incomes) will be $5. Middle income folks will see a cut of a whopping $46 – enough to buy most of a tank of gas.

And the wealthiest 1% of North Carolinians? Well, not that they’ll probably notice it either, but the Senate income tax cuts alone will provide them with a cool $1,830 per year

We're allowing our education system to be dismantled for this? The phrase "eating your seedcorn" falls short of describing this ignorance. At least the seedcorn would feed your family for a few weeks before it ran out.

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Off to the lake for a few hours

Hopefully some vigorous kayak-paddling will take my mind off the madness. For a little while, anyway.

Enjoy

I hope the break will take your mind of the madness. It will still be here when you return, I fear. Indeed, I suspect it will be with us for generations to come.

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We are not amused.