North Carolina Citizens Screwed By Bev Perdue and State Legislature

North Carolina’s 2009 Tax Hike Unique in Southeast | John W. Pope Civitas Institute:

“In a recent USA Today article summarizing how states balanced their budgets this summer, Vice President of the National Taxpayers Union Pete Sepp declared, ‘With a few exceptions, states have been able to avoid the doomsday projections that big tax hikes were on the way.’

Unfortunately, North Carolina was one of those “exceptions.”

As part of the FY 2009-10 budget, North Carolina lawmakers introduced more than $1 billion in new taxes. Indeed, of the three major taxes typically imposed at the state level – income, sales and corporate – North Carolina managed to raise all three. Specifically, the sales tax was increased by a penny, and lawmakers created a “tax surcharge” to be levied onto the corporate tax and personal income tax of single filers earning above $60,000 and married filers earning above $100,000.

State lawmakers insisted that these steps were necessary to balance the budget. Apologists justify the tax hike by claiming that “everyone else is doing it,” and therefore North Carolina’s economic competitiveness will not be harmed. That’s not true.

A report from the National Council of State Legislatures (NCSL) shows that among southeastern states, North Carolina stands virtually alone in its decision to impose massive tax hikes to balance this year’s budget.”

Stringing and Strowing says: Entire well-worth-the-read article through link.

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