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Together NC releases budget plan today

Submitted by scharrison on Mon, 05/14/2012 - 12:57pm

Sometimes doing what's right costs money:

Restoring lost funding to education and health care programs is at the center of a budget plan released today in Raleigh by Together NC, a coalition of 120 organizations from around the state. The proposal includes raising the state sales tax by a full penny and creating an additional upper-income tax bracket for North Carolina households making more than $1 million a year.

I have absolutely zero confidence that Berger & Tillis will pay any attention to these ideas, since progress is apparently a dirty word amongst their followers. But the planning must be done anyway.

North Carolina’s economy was built over decades by bi-partisan investments in public structures – health care, education, infrastructure, economic development and natural resources. Now we need bi-partisan support to restore and build upon those investments so we can meet the demand of our growing population for education and other public structures that pave the way for prosperity. To build shared prosperity over the long-term, we must update and restructure our tax system. Any efforts to reform our tax system must be done in a way that supports economic opportunity, grows with the economy and weathers economic downturns.

Follow the link, read the plan. The value of such should be self-evident, unless you're trapped in Free Market Fantasyland.

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Comments

Two words

Submitted by James on Mon, 05/14/2012 - 1:56pm.

Raise taxes.

Driven by the lunacy of the Austerians, tax rates are at an historic low, far below the level that propelled America through the wonder years half a century ago, the wonder years of growth and prosperity.

There is not a single problem facing North Carolina that could not be addressed by raising tax rates on upper income households.

The Governor's proposed tax increase is one I suggested two years ago. It's a damn shame she didn't fight for it back when she had at least a shred of political capital left.

Now it's up to Dalton to carry the banner. Listen up, Mr. D.

"My fellow North Carolinians. Back in the days when America was struggling to emerge from the Great Depression, back when we knew that good government could make an important difference in the lives of our average citizens, the tax rates on those earning the most were more than twice as high as they are today.

Those tax rates didn't slow our growth and prosperity. They improved it. They put people to work on important projects like our national parks, our highway system, and other critical parts of our infrastructure. Today, all those investments are at risk because people like Pat McCrory want the rich to get richer, while regular families take it on the chin.

As your governor, I will fight for fair taxes that fund good government and effective investments in jobs today and a solid future for tomorrow."

Once again...I believe a sales tax increase unfairly

Submitted by Stan on Mon, 05/14/2012 - 5:46pm.

impacts those who can least afford it. One penny is another $200 tax on just $20,000 which is a poverty level income. And, local governments seem to be following in that same path...1/4 cent here and 1/2 cent there and pretty soon it really starts to sting people who are buying necessities and already pay 7-8 % The gas tax is already 38 cents (state) and 18 cents (federal) per gallon...which also unfairly impacts low income families.

Wilmington is currently talking about raising property taxes so they can spend $40 Million building a baseball arena so that a bunch of over-paid and other-wise utterly useless professional athletes can come here and probably charge us $12 for a hot dog and a coke....$40+ for a nose-bleed seat...and we get the privilege of financing it with our taxes. Meanwhile our infrastructure is collapsing.

I have a better idea. Let's legislate that churches start paying property taxes on all church owned properties and any "charity" that uses more than 30% of it's income for salaries and benefits to local or organizational employees be declassified as charities and subject to the same taxes as the rest of us. The Bishop of the NC United Methodist Church recently saw fit to help deny other's their civil rights...even as those same people were paying a share of their property taxes to support the infrastructure needs of those churches.

Stan Bozarth

Right you are, Stan

Submitted by James on Mon, 05/14/2012 - 5:51pm.

I shouldn't have implied support for the sales tax increase, because I don't support it. My earlier call for a tax increase - and my current call as well - is for a new higher bracket with a much higher rate.

It's partially offset, Stan

Submitted by scharrison on Mon, 05/14/2012 - 6:17pm.

From the link above:

2. Expanding the state’s refundable Earned Income Tax Credit. While the sales tax is one of the best sources for immediate and substantial revenue, we also know it hits low-income households the hardest. That’s why we support expanding the EITC for North Carolina’s hardest-working families, to offset the temporary one-cent increase in the sales tax. Expanding North Carolina’s EITC from 5% to 10% of the federal EITC would cost approximately $107 million.

Recoup Corporate Giveaways

Submitted by wafranklin on Mon, 05/14/2012 - 8:27pm.

Kill all the corporate subsidies and recoup that which has previously been lost as they ignore taxation totally.

wafranklin

 

And raising taxes worked so

Submitted by Anonymous (not verified) on Tue, 05/15/2012 - 12:31am.

And raising taxes worked so well for New York. And New Jersey. And California. What happened? The "upper income" folks left the state and took their tax revenue with them. Now those states are nearing bankruptcy. Continued class warfare is not going to get you any votes.