States are better governed
Even if Washington confiscated every dollar received by every American in excess of $500,000 a year, that would yield only $11.8 trillion in new revenue over the next decade — less than currently projected deficits.
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Category: Taxes and Budget
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JLF’s Mitch Kokai discusses Mecklenburg’s proposed sales tax increase
Mitch Kokai, John Locke Foundation senior political analyst, discusses the sales tax increase Mecklenburg County voters will see on the November ballot. Kokai offered these comments for an Oct. 18, 2019, report on WSOC-TV.
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Tax system remains progressive
Although special circumstances may temporarily yield atypical results, in general the effective tax rate — annual taxes paid divided by annual income — rises as annual income rises.
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State transportation department running low on reserves
Editor’s note: This story has been updated to clarify a statement about state law requirements for NCDOT’s cash balance. The N.C. Department of Transportation is running out of gas. NCDOT depleted its budget in 2019, a new report shows, leaving top members of the N.C. General…
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N.C. politics this week: What you may have missed
Each week, staff at Carolina Journal looks back at the week in N.C. politics and chooses what we think are some interesting, relevant stories you may have missed. Here’s a week in review: Testy Exchange: The Oct. 2 N.C. State Board of Education got heated…
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Mini-budgets advance through the General Assembly
Lawmakers spent Tuesday, Oct. 8, advancing four mini-budget plans as the budget veto stalemate drags on into another month. Gov. Roy Cooper vetoed the $24 billion budget June 28. The N.C. House overrode the veto, but the Senate has yet to try. In lieu…
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JLF’s Becki Gray discusses N.C. Senate budget plans
Becki Gray, John Locke Foundation senior vice president, discusses the N.C. Senate’s budget plans for the week. Gray offered these comments during the Oct. 1, 2019, edition of Spectrum News’ “Capital Tonight.”…
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More mini-budgets to come, Senate leader says
Lawmakers will continue to consider mini-budgets. For now. A Senate vote to override Gov. Roy Cooper’s budget veto is still possible, but that probably won’t happen until the candidate filing period ends noon Dec. 20, Senate leader Phil Berger, R-Rockingham, said in a news conference Tuesday,…
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‘Too much of a good thing’ applies to more than just our personal lives
A recent report reminds us of the important concepts of diminishing returns and diminishing marginal utility.
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Carolina Journal Radio No. 854: Constitution Day reminds us about the document’s importance
Constitution Day earlier this month reminded us of the importance of the United States’ governing document. Jon Guze, John Locke Foundation director of legal studies, emphasizes constitutional provisions that protect the nation from damaging policies put forward by elected officials. Guze touts the value of these constitutional safeguards. Jesse Helms…