Tag:taxes

  • 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…

  • Sending mixed message, confusing North Carolinians

    Mixed signals. Some things are clear — lower taxes, fewer regulations, skilled workers, and efficient infrastructure lead to economic growth. A robust and growing business community creates jobs. Vouchers offer opportunities to low-income students, and school choice leads to better and more fulfilling educational outcomes. Investments in education and public…

  • Billion-dollar tax cut plan heads to Senate floor

    Stark differences in conservative Republican and liberal Democratic fiscal priorities were clearly on display during a Senate Finance Committee meeting Wednesday at which a $1 billion tax cut package was approved by voice vote. Senate Bill 325 was then forwarded to the Senate…

  • Finding common ground may elude 2017 General Assembly

    Perhaps the biggest task facing a Republican-controlled General Assembly when it returns from a two-week hiatus Wednesday is finding common ground with a new Democratic governor, and vice versa. That’s a significant challenge, considering the contentious nature of last year’s special sessions and the flurry of lawsuits that followed. Lawmakers…

  • Let’s start 2017 by promoting ideas that benefit all

    Lawsuits. Veto threats. Power grabs. Protests. My rights, his rights. No one’s right. What a way to end 2016. Recovering from one of most contentious elections and a special session of the General Assembly tarnished by constitutional challenges, most North Carolinians are left asking, can’t we all just get…