News & Observer: Despite claims, GOP policies aren’t spurring the NC economy

“The ballyhooed tax cuts have choked state revenue to the point where it will not be enough for even an austere budget. Current projections call for a $199 million shortfall, but it could go higher. Meanwhile, the cuts have increased economic inequality by shifting the tax burden downward. A new report from the Institute on Taxation and Economic Policy found that North Carolinians in the lowest 20 percent of income pay 9.2 of their income in state and local taxes. The top 1 percent pay 5.3 percent.”