North Carolina Poised To Abolish Income Tax...

[paulitician]

Wow. Revolutionary. WTG North Carolina!


North Carolina Republicans will aim to ax income tax

At the moment, seven states across the country don’t levy a tax on income, and North Carolina Republicans want to make it eight, according to a powerful member of the state legislature.

State Sen. Bob Rucho, a Mecklenburg County Republican and chairman of the Senate Finance Committee, said Wednesday that he hoped to use the 2015 legislative session to eliminate the state income tax, replacing it with a consumption-based sales tax to make up for the lost revenue.

“That’s a direction we’d like to go,” Rucho said in an interview as the state Senate adjourned for the year. Rucho said it was impractical to push for such a steep cut during a short session the legislature holds in even-numbered years, but that cutting the income tax was a top priority of his when the legislature reconvenes for its biennial full session.

North Carolina’s income tax accounts for about 61 percent of state revenue, Rucho said. But the revenue stream has been choppy in recent years, given the impact of the recession. The uneven results on a year-over-year basis can play havoc with annual budget planning in a state that requires a balanced budget, and it’s something Rucho said he wanted to avoid.

“We want to get away from that and go to a more flat consumption-based tax ...

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North Carolina Republicans will aim to ax income tax
DRUDGE REPORT 2013®

 

[Mr Natural]

It's all a shell game and they'll just make up for the shortfall somewhere else.

Property taxes, sales tax,, excise tax, etc.

 

[paulitician]

It's all a shell game and they'll just make up for the shortfall somewhere else.

Property taxes, sales tax,, excise tax, etc.

Possibly, but i'll give it a chance before i criticize it. It's great to see more States trying new ideas. I believe we're witnessing a States Rights Revolution. More & more States are beginning to reassert their authority and sovereignty. I love it.

 

[g5000]

How is changing from an income tax to a sales tax "asserting their authority and sovereignty"?

North Carolina already has a sales tax of 4.75%. Most municipalities have an additional sales tax which can raise the total further to 7.25%. Tack on county and local taxes, and you are paying 8% in some parts of the state.

Eliminating the income tax and trying to make it up with higher sales taxes will push the sales tax well into the teens.

 

[paulitician]

How is changing from an income tax to a sales tax "asserting their authority and sovereignty"?

North Carolina already has a sales tax of 4.75%. Most municipalities have an additional sales tax which can raise the total further to 7.25%. Tack on county and local taxes, and you are paying 8% in some parts of the state.

Eliminating the income tax and trying to make it up with higher sales taxes will push the sales tax well into the teens.

Like i said, i'll give it a chance before i criticize it. You have to try new ideas.

 

[Granny]

Works in TN. I don't know how in hell they manage to get it all done, but it suits me just fine. Sales tax is high but I'm not nearly as strangled by taxes of every shape, color and kind as I was when I lived in VA.

I've just witnessed a road project that still amazes me. It's a city project, but still. The workers came into a residential area and re-did every street in an entire neighborhood - and I'm talking about a huge chunk of real estate that got repaved. Took them about two weeks to do the whole project from A to Z. Traffic was not impeded - the men just kept on doing the job. I'm still amazed - those streets are absolutely beautiful. If that project was in Richmond, VA it would have taken a good six months to a year to complete the project.