The right-wing nut jobs from the Jones Street House of Pain, along with DAG McClowny, have been on an all-out propaganda push to try to convince North Carolinians that they're getting a tax cut, just because the nominal income tax rate will decline and they'll see an extra buck or two in their paychecks.
Of course, their propaganda is disingenuous a pack of outright lies. They know that nearly all of the tax cuts go to the wealthiest people and that, with the elimination of many deductions and the earned income tax credit, coupled with the new 7.5% sales tax on many goods and services, the overall tax bill for most people will go up.
When Republicans talk about their big tax cut coming in January, people will be forgiven for not getting all that excited. The bottom rate will drop from 6.0% to 5.8%, which qualifies as nothing more than chump change. For a person making $25,000, the tax cut is whopping $50. Impressive.
Of course, if you happen to be a high-income earner, the picture is a lot prettier. Your tax rate will drop from 7.75% to 5.8%. So if you're making $200,000, you'll get a $3,900 tax break. In other words, your benefit from the Republican plan is 78 times higher than the person at the bottom of the income scale. Seventy-eight freaking times!
But the gift that keeps on giving doesn't stop there. In addition to that whopping $50 savings, all income earners will now be paying taxes on movies, museums, live entertainment, service contracts, warranties, maintenance agreements, repair contracts, electricity and natural gas, manufactured homes and modular homes sold at retail, and a whole lot more. So if you spend as little as $5,000 on all of those services combined, you'll be paying an additional $235 each year. Most people will pay twice that.
Over the month ahead, right wing nutjobs will be singing the praises of tax reform as a giant step forward for North Carolina families. Don't buy their bullshit. You've been played. This is nothing more than the old bait and switch, and the only people who will make out are ... you guessed it ... the rich and well-to-do.
McCrory Defends His Policies In Surprise Asheville Appearance.
I read this article and quickly concluded this man is so deluded I don't know where to start. McCrory's constant refrain of 'competition creates winners' leaves out the fact that it also creates 'losers.'
To have NC compete with other states on tax rates will only result in a race to the bottom. We lower our tax rates, and other states lower their tax rates. It is a race to zero. Who benefits from that? And I make no apologies about feeling that a corporation that does business in any locality DOES owe something to that community beyond jobs. They DO have to contribute to the common good, to education, to building highways and schools and the maintenance of public buildings and spaces. Yes, it is fair and right to have companies pay taxes.
Submitted by libertypoint on Tue, 05/14/2013 - 10:57am
RALEIGH (May 14) – The tax reform plan announced by state Senate Republicans last week is just another charade designed to make people think they are actually reducing taxes, the Libertarian Party of North Carolina state chair said in a statement today.
“Calling it the Tax Fairness Act and claiming it's the largest tax cut in state history is misleading at best,” said J.J. Summerell. “Taxes are inherently unfair. The only difference between taxes proposed by Republicans and Democrats is which special interest group is going to benefit and which is going to pay.”
Submitted by Vicki Boyer on Mon, 04/22/2013 - 1:09pm
A new survey of business climate ranks Raleigh in the nation’s top ten for small businesses.
Triangle Business Journal today is noting Raleigh made the top 10 list for the Best Cities for Business, 2013. Raleigh-Durham got an A in this year’s survey, up from a B last year.
This information comes from the United States Small Business Friendliness survey and here’s a link to the Thumbtack.com interactive map. You will see three areas in NC are shown, Raleigh-Durham, Winston-Salem, and Charlotte.
The survey contacted over 7,000 small business owners to discover the best states for the operation of small businesses today. Topics included how easy it was to start a business and ranged through “ease of hiring, regulatory burdens, and available training and networking opportunities for business owners.”
Submitted by davidesmay on Sat, 03/23/2013 - 3:06pm
Conservatives, especially the true believers that now populate the NC General Assembly, are fond of quoting Adam Smith, the 18th century Scottish moral philosopher and political economist. They love the quotes, but the content escapes them.
Smith wrote in "An Inquiry into the Nature and Causes of the Wealth of Nations",
"People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices." Smith went on to observe, "But though the law cannot hinder people of the same trade from sometimes assembling together, it ought to do nothing to facilitate such assemblies, much less render them necessary."
Every time one of our Republican legislators goes to an ALEC seminar or meets behind closed doors with ALEC representatives to write laws, they are conspiring against the public ... and corporations are always the direct beneficiaries.
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