News
NC House bill would eliminate local sales tax on groceries
Lawmakers propose eliminating local grocery taxes to ease costs, but critics warn counties could lose millions and face pressure to raise other taxes.
Opinion
Wealthy drivers don’t pay fair share under regressive gas tax
Driving the annual NC average of 16,073 miles, the driver of a 10 MPG truck pays about $650 in gas tax towards state roads, while the EV owner only contributes a $180 registration fee.
Opinion
Myths and facts about the Inflation Reduction Act
BACKGROUND The “Inflation Reduction Act” spends hundreds of billions of dollars on President Biden’s wish list. It pays for it with big new taxes on big corporations. It imposes a new 15% minimum tax. Supposedly this is a tax on the “wealthy.” It isn’t. On January 21, 2018, the nominal federal corporate income tax rate...
Opinion
Myths and facts about the corporate income tax
BACKGROUND On January 21, 2018, the federal corporate income tax rate dropped from 35% to 21%. The corporate income tax rate in North Carolina fell to 2.5% in 2019. As recently as 2011, the North Carolina corporate income tax rate was 6.9%. This article explains the reasons for these reductions. Governor Roy Cooper always equates...
Opinion
North Carolina still has room for improvement on taxes
In states that do tax income, 16 have lower rates than North Carolina.
Opinion
Sales-tax hike is unneeded
Gov. Cooper’s commission proposes raising the sales tax and using half the proceeds to reduce the gas tax. The net tax hike would come to as much as $6.3 billion over the next 10 years.
Opinion
Are taxes fair in North Carolina?
It is silly to talk about tax fairness in North Carolina while ignoring federal taxes, which represent most of our tax burden and fund not just the federal budget but also a good chunk of the state budget.
Opinion
Boost facility funding from lottery
To swap broader taxes on sales, income, or property with a narrower revenue source was, of course, one of the main attractions of the state lottery for some proponents.
Opinion
No, the N.C. flat-rate income tax is not regressive
A widely read statewide political columnist ignores recent changes that ensure higher N.C. income earners pay more taxes.
Opinion
High-Income Earners’ Higher Burden Under a Flat-Rate Tax
it’s misleading for a politician or pundit to argue against a flat-rate tax by saying those with higher incomes ought to pay more. Those with higher incomes do pay more — substantially more.
Opinion
Why Not a Carbon Tax?
Such a tax would benefit energy producers, hurt the poor, and offer no measurable impact on global temperatures in our lifetimes.
Opinion
E-Cigarettes: Bad Tax Policy Chasing Good
A proposal in the N.C. General Assembly violates basic principles of economic efficiency, individual liberty, social equity, and government transparency.
