Tag:taxes

  • Public backlash ensures distillers’ good deed goes unpunished

    Assigning infallibility to government action is a fool’s errand. It’s a common refrain in libertarian and conservative circles, and its truth is grounded in history, as well as the government’s continuing and ubiquitous intrusion and overreach. I won’t take credit for the aforementioned paraphrased…

  • Lower spending is the key to fiscal sustainability

    As Tears for Fears sang in the 1980s, everybody wants their taxes lower. Well, that might not be the exact line, but the sentiment is shared across the political spectrum. Still, examples in other states and at the federal level provide frequent reminders that cutting taxes without cutting spending is…

  • No kidding, North Carolina taxes illegal drugs

    “Hey! Did you pay taxes on those drugs, mister? Probably not, right?” Unless you are buying your marijuana from a dispensary in a state where it’s legal, you probably aren’t paying taxes on your illicit substances. If not, you are likely committing two crimes: possession of a controlled substance and…

  • Pro-growth policies fueling North Carolina’s economic rise 

    What’s the theme for limited government, personal responsibility, opportunity and freedom across North Carolina for the 2018 election cycle?  Keep on keepin’ on. Reforms since 2011 have transformed our state into an economic powerhouse, creating jobs and opportunities like never before.   Tax cuts begun in 2011 have put $5 billion back into the…

  • FLASHBACK: Tax cuts are not self-financing

    Editor’s note: This Daily Journal by John Locke Foundation Chairman John Hood originally ran here May 30, 2017. We are running it again in response to a story,”What happened when North Carolina cut taxes like the GOP plans to for the country,” published Sunday in The Washington Post. North Carolina Republicans…

  • The deduction for state and local taxes: Fair and efficient tax policy

    Should you ever be taxed on “income” that is not, in any meaningful sense, yours? This is the fundamental question facing Congress in deciding whether to eliminate the deductibility of state income and local property taxes from federal taxable income, a policy change proposed by President Trump. Unfortunately, this question is unlikely…

  • State budget crisis unlikely, fiscal expert says

    The Insider reported recently about a Fiscal Research Division analysis showing the Senate’s “Billion Dollar Middle Class Tax Cut” would lead to $600 million shortfalls in three of the next five years. Fiscal staff started from the assumption that state government would do all the same things the…