There’s new and sobering info from the Center on Budget and Policy Priorities and the Economic Policy Institute courtesy of the NC Justice Center that further highlights the folly of enacting new tax laws that shift the state’s tax burden more and more away from people at the top and toward the middle and the bottom:
- The incomes of the richest fifth of households grew by 5.5 percent ($8,054) while those of the poorest fifth fell by 3.7 percent ($735) from the late 1990s to the mid-2000s, and
- In the late 1990s, the income of the richest fifth of North Carolina households was 7.4 times the income of the poorest fifth, but by the mid-2000s that ratio had grown to over 8.
- Make North Carolina’s tax system less regressive.
- Improve the unemployment insurance system.
- Strengthen supports for low-income workers.
- Raise the minimum wage and/or index it to keep pace with rising costs.