North Carolina Senate GOP Debuts Far-Reaching Tax Overhaul


#1

RALEIGH: Senate GOP debuts far-reaching tax overhaul | State Politics | NewsObserver.com

                                   RALEIGH — A far-reaching plan  proposed by Republicans in the state Senate would slow government  spending and affect the wallet of every North Carolinian as it slashes  income tax rates and raises the cost of food, prescription drugs and  more than 100 tax-exempt services.

Senate leader Phil Berger outlined the forthcoming legislation Tuesday, calling it a $1 billion tax cut that is the largest in state history.

“This is a huge change in the way North Carolina taxes its citizens, the way North Carolina generates its revenue to fund services that government provides,” said Berger, an Eden Republican and the Senate president pro tem.

It shifts the tax burden to consumption rather than income, a move that will disproportionately affect low-income taxpayers and families. A married couple with two children making $30,000 a year would pay an estimated $1,000 more in taxes each year, according to a calculator on a political website designed to support the plan. By contrast, a single taxpayer making $200,000 would get a $6,000 break.

I’m sorry, but raising the taxes on prescription drugs and food, especially in a recession, while giving a tax-break that is specifically targeted to the wealthy is just wrong. Just cut the income tax a bit and government waste, but don’t force working people to have to suffer more.

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Read more here: RALEIGH: Senate GOP debuts far-reaching tax overhaul | State Politics | NewsObserver.com

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#2

A sales tax on food and prescription drugs? That’s insane, it’s essentially raising the cost of food and prescription drugs are expensive enough as it is.


#3

There are much better ways to do this than what they are proposing. Stupid people. I would go to the hearing in the state legislature and voice my outrage. For the record, it’s not just the poor who will be effected by this. I don’t know what the state tax rates are in NC, but here in Ohio if they did something like this I know small business owners who would suffer. Back when I was making $100,000 a year with my small business, I was able to have enough deductions to keep my federal tax owed to about $4,000 a year, my state was $500, and city was $1,000. Now if they tax based on consumption I would be paying way more than $500.00 in the consumption tax meaning my taxes would increase, rather than go down, like the state basically said it will do. That’s a perfect example of how it’s a failed tax policy.