Could low taxes be a cause of the high influx of migration to NC?
In her recent State of the City address for 2024, Mayor Nancy Vaughn of Greensboro put forward a bold proposal: a citywide 1% prepared-food tax. The rationale behind this initiative, according to Vaughn, is to inject much-needed revenue into the community, with estimates suggesting a minimum influx of $20 million. While on the surface, this...
As the United States grapples with a staggering national debt surpassing $34 trillion, which grows by further trillions every year, it’s imperative to address the root cause of this fiscal irresponsibility. Over the past century, we’ve witnessed a concerning trajectory, with the federal debt ballooning from $403 billion in 1923 to a staggering $33.17 trillion...
While some counties look to build new sports complexes, others struggle to pay bills and upkeep.
Raleigh News & Observer editor Ned Barnett continues to be of the belief that what ails North Carolina is a state government that is too small. In his Jan. 29 editorial, he expresses frustration that hard-working North Carolinians are keeping too much of their money. Claiming that “excessive tax cuts” over the past several years...
Another free-market think tank has ranked Democratic North Carolina Gov. Roy Cooper positively with regard to fiscal policy, with the Cato Institute’s new governor’s rankings putting Cooper 6th overall. Cooper was the only Democrat in the top 10 and received a “B” grade overall. Cato’s report created scores for governors “on the basis of seven...
The "Inflation Reduction Act," which passed the U.S. Senate on Sunday, is up for a vote this week in the U.S. House, and the final version will not contain guarantees that those making under $400,000 per year will avoid any resulting new taxes. The House rejected amendments from two N.C. Republicans that would have limited new taxation to those earning more than $400,000.
I’m up here at a conference in Washington D.C. and met somebody from Raleigh who is a fan of Carolina Journal and he told me he liked the outrageous stories segment. It’s nice to hear from readers and I try to pick out content that has a broad appeal. Here are a few stories that...
Tax season in North Carolina won’t open until Feb. 28. Changes in the tax law, part of the state’s $25.9 billion spending plan passed last year, have delayed the Department of Revenue from finalizing certain tax forms, the department says. This also includes updates for tax systems and approval of tax preparation software. “Accurately processing...
State and local tax deductions, commonly referred to within the Washington beltway as “SALT,” have become a lightning rod for bipartisan criticism over the past few weeks – a flashpoint that has received national attention. Under H.R. 5376, the so-called “Build Back Better Act” that was passed by the U.S. House on November 19, the...
Believe it or not, the “limousine liberal” tag was first used by a Democrat to describe a Republican in a New York City mayoral campaign during the late 1960s. Back then, the Democratic Party was still largely cemented as America’s working-class party. Today, it’s an entirely different story. Few policies highlight that more right now...
