North Carolina
North Carolina Budget and Tax Center: The Dead Tax Plan: Just How Regressive Would it Have Been?
• By ITEP Staff
The proposed $1 billion compromise tax plan released the week of July 20th featured a 1-cent sales tax increase and 2% personal income tax surcharge. This plan, if enacted, would have required three times more, as a share of income, of the state’s lowest-income families than of the state’s top 1% of income-earners. Read the […]
North Carolina Justice Center: THE FUTURE IS NOW- A Plan to Modernize North Carolina’s Revenue System
• By ITEP Staff
A modern revenue system should improve long-term adequacy, minimize volatility and ensure equity so that the state can invest in North Carolina’s shared prosperity. Read the Full Report (PDF)
NC Policy Watch: The Devil’s in the Details- Health and Human Services
• By ITEP Staff
Legislative leaders announced their intent to cut $592 million from the state’s health and human services budget next year, which is $372 million more than the $212 million in FY11-12 cuts proposed in the Governor’s budget. To put the legislature’s proposal in perspective, the state’s $4.9 billion health and human services budget is second only […]
North Carolina Justice Center: A Plan to Modernize North Carolina’s Revenue System
• By ITEP Staff
State leaders must create a budget that meets the population’s needs and allows them to make the investments that will prepare North Carolina for future prosperity. But these goals are made more difficult to achieve by the state’s deteriorated revenue system, which even in the best of times cannot produce the resources required for education, […]
Richmond Times-Dispatch: States Taxing the Rich: A Very Bad or Good Idea
January 8, 2013
(PDF of Original Post) NEAL PEIRCE © WASHINGTON POST WRITERS GROUPPublished: September 20, 2009 WASHINGTON In a dramatic break from tax trends of recent decades, eight states have voted this year to push up the percentages of income that their wealthiest citizens must pay. Connecticut is the latest to take this step, following Delaware, Hawaii, […]
Columbia Free Times: Study Says State Tax System Unfair
January 7, 2013
(PDF of the Original Post) by : Al Dozier A new study showing South Carolina’s tax system weighs more heavily on the poor and middle class than the rich is unlikely to spark any restructuring of the state’s tax system, according to local advocates for change. That conclusion comes even as a new study panel, […]
The Progressive Pulse: North Carolina’s Upside-Down Tax System Asks More From Those With Less
January 7, 2013
(PDF of the Original Post) Post on February 14, 2011 by Ed McLenaghan Note: This is Part 3 in a series of posts on revenue modernization in advance of Thursday’s release of the NC Budget & Tax Center’s 2011 Revenue Modernization Plan. You can read Part 1 and Part 2 here. North Carolina’s state and […]
News-Record: Senate’s budget plan relies on deep cuts
January 7, 2013
(PDF of the Original Post) Tuesday, May 31, 2011(Updated 3:00 am) The Republican-controlled Senate’s budget takes a double cuts approach to our state’s fiscal woes: It relies on deep cuts in spending to close our $2.4 billion budget shortfall and even deeper cuts to vital state programs due to a nearly $500 million cut in […]
The Herald-Sun: Senate tax cuts
January 7, 2013
(PDF of the Original Post) The Republican-controlled Senate’s budget takes a double cuts approach to our state’s fiscal woes: it relies on deep cuts in spending to close our $2.4 billion budget shortfall. Even deeper cuts to vital state programs were necessitated due to their nearly $500 million cut in personal income taxes. Sen. Bob […]
The Progressive Pulse: Proposed Tax-Cut Plan Violates First Rule of Holes
January 7, 2013
(PDF of the Original Post) Post on June 2, 2011 by Ed McLenaghan When in a hole, the first response should be to stop digging. The tax-cut plan passed Tuesday by the House and included in the Senate budget, however, responds to the $2.4 billion state revenue shortfall by digging the hole even deeper. Although […]
The Herald-sun: A break from tax holidays
January 7, 2013
(PDF of the Original Post) 08.04.11 – 07:50 pm Let’s take a holiday from the sales tax holiday. That was a daring thing for any politician to say — voters do so love their tax loopholes — but on the lips of a Republican, it was practically radical. Sen. Richard Stevens, R-Wake, was among the […]
Stateline: Md. ‘millionaire’s tax’ debate is back
January 4, 2013
(PDF of Original Post) TUESDAY, NOVEMBER 24, 2009 By Stateline.org Staff Reports A headline in this morning’s Baltimore Sun — “Maryland lost nearly 30% of millionaires last year” — is sure to revive a debate over the higher tax rates that Free State legislators imposed on millionaires in 2008. At least eight other states this […]
Tri-Parish Times: Will Jindal go for more sin taxes?
January 4, 2013
(PDF of Original Post) By TOM ASWELL During the 1988 presidential race, Vice President George H.W. Bush proclaimed, “Read my lips: no new taxes!” That famous line helped him defeat Michael Dukakis but when he was forced to back-track on that promise, it was his eventual undoing. Bill Clinton’s own pithy campaign slogan “It’s the […]
Atlanta Journal-Constitution: Barnes plan: Remove capital gains tax for 2 years
January 4, 2013
(PDF of Original Post) Candidates says break would pay for itself; experts disagree By Jeremy Redmon The Atlanta Journal-Constitution 7:45 a.m. Wednesday, October 13, 2010 Democratic candidate for governor Roy Barnes appeared alongside a pair of local businessmen at a news conference in Midtown Atlanta’s Technology Square this month, trumpeting his plan to revive Georgia’s […]
Oregonian: TAXING THE RICH It’s not class warfare, it’s just common sense
December 21, 2012
(Original Post) The Sunday Oregonian (Portland, Oregon) September 20, 2009 SundaySunrise Edition TAXING THE RICH It’s not class warfare, it’s just common sense NEAL PEIRCE In a dramatic break from tax trends of recent decades, eight states have voted this year to push up the percentages of income that their wealthiest citizens must pay. Connecticut […]
Durham (NC) Herald-Sun: A break from tax holidays
December 21, 2012
August 5, 2011 EDITORIAL Let’s take a holiday from the sales tax holiday. That was a daring thing for any politician to say — voters do so love their tax loopholes — but on the lips of a Republican, it was practically radical. Sen. Richard Stevens, R-Wake, was among the state legislators who not […]
AOL Daily Finance: The True Cost of State Sales Tax Holidays
December 21, 2012
Original Post August 12, 2011 by Sheryl Nance-Nash ‘Tis the sales-tax-holiday season, when states give the gift of tax-free shopping for clothing, computers and other back-to-school supplies. It seems like a good thing: Take a little pressure off the pockets of cash-strapped parents, make retailers smile and make politicians look good for supporting tax relief. […]
Charlotte Observer: Big companies with big profits pay little in taxes, study finds
December 19, 2012
By Kirsten Valle Pittman kpittman@charlotteobserver.com Posted: Friday, Nov. 04, 2011 Major U.S. companies – including a big bank, an energy titan and a manufacturer with close Charlotte ties – are paying unusually low taxes to the federal government, a study released Thursday found. The report from two left-leaning think tanks, Citizens for Tax Justice and […]
Minnesota Post: New study sure to intensify political battle over corporate income taxes
December 19, 2012
(Original Post) By Dave Beal | Friday, Nov. 4, 2011 Best Buy faced a federal income tax liability of 39.3 percent for the three-year period of 2008-10 — above the statutory rate of 35 percent — while Wells Fargo ended up paying nothing. The disparity between two companies with a strong Minnesota presence is not […]
The Huffington Post: State Tax Reform Legislation Likely In 15 States In 2013
December 19, 2012
(Original Post) John Celock Posted: 12/19/2012 12:59 pm EST WASHINGTON — Fifteen states are likely to see some sort of tax reform legislation in 2013, according to a study released Wednesday by the Institute on Taxation and Economic Policy. ITEP said that a series of tax reform packages, ranging from an extension of the sales […]
The American Independent: Arthur Laffer’s dynamic roadshow
December 18, 2012
(Original Post) Siddhartha Mahanta | 12.18.12 | 1:24 pm | Republishposted in Economy/Finance | Government Accountability/Reform | Politics On January 19 of this year, Kansas state Sen. Julia Lynn offered an exuberant greeting to renowned tax-cutting enthusiast Arthur Laffer. “What an honor and privilege to have you here in Kansas,” Lynn said, welcoming the fabled […]
North Carolina Justice Center: Gas Tax Cap Would Delay Needed Repairs and Weaken North Carolina’s Transportation Budget
• By ITEP Staff
“Key Findings: • North Carolina’s transportation budget faces a funding gap. Since the Great Recession, North Carolina has not experienced gradual increases in revenue collections from the gas tax as generally experienced in pre-recession years. The purchasing power of construction and maintenance dollars has also eroded. • Despite revenue shortfalls for transportation projects, the price-based […]
North Carolina Justice Center: Improving the Sales Tax – A Critical Step to a Modern Revenue System
• By ITEP Staff
EXECUTIVE SUMMARY The state sales tax in North Carolina represents nearly 30 percent of the state’s total revenue each year. In 2011, the states sales tax generated $5.9 billion in state revenue. The sales tax is regressive, which means that it asks more from those with the least ability to pay. Lower-income families spend a […]
North Carolina Justice Center: WHO PAYS TAXES?- The Poor, the Rich, and Everyone In Between
• By ITEP Staff
“KEY FINDINGS Every household pays taxes. Even the poorest fifth of American households paid an average of one-sixth (16 percent) of their total income in federal, state, and local taxes in 2009. The wealthiest 1 percent of households in the country, with annual incomes averaging more than $1.3 million, paid less than one-third (30.7 percent) […]
The Progressive Pulse: On Tax Day, demonstrators seek tax equality for the 99%
December 17, 2012
(Original Post) Post on April 17, 2012 by Clayton HenkelAs last-minute tax filers scramble to get their taxes in by Tuesday’s midnight deadline, demonstrators gathered outside the Bank of America branch in Raleigh’s Cameron Village to protest corporate tax avoidance. The NC AFL-CIO, MoveOn.org, and other community activists believe that Tax Day is a reminder […]
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