NC Budget and Tax Center

Prosperity Watch: Abolishing corporate, personal income tax eliminates 60 percent of state’s revenue

In recent weeks, lawmakers in North Carolina have proposed a number of tax reform plans that would abolish the corporate and personal income taxes and shift the state’s revenue base to a consumption tax.  As the newest issue of Prosperity Watch describes, taking this approach would immediately eliminate 60 percent of the state’s annual revenue. How would the state fill in this $12 billion dollar hole? See here for more details.

2 Comments


  1. david esmay

    January 24, 2013 at 3:43 pm

    What Berger means by tax reform is undermine the state government’s ability to operate as a government. The problem with these idiot GOP baggers is they hate government, but love to govern. Would a business hire a manager that hates to manage? By weakening the state government, corporations and their GOP lap dogs like Berger, Tillis, and their ilk can rape and pillage NC’s society and environment at their leisure.

  2. Amanda Hubbard

    January 25, 2013 at 12:36 pm

    This is just another example of how the NC GOP is taking our once great state in a Race To the Bottom. The consumption tax will hit families with children and the elderly the hardest. So sadly many who voted in this super majority will have to bear the burden of these incredibly regressive tax reforms not to mention the cuts to services that these groups will experience.

Check Also

Under fire, Trump pick for Secretary of Labor withdraws

President Trump suffered his first defeat on confirming ...

Top Stories from NCPW

  • News
  • Commentary

Conference comes a day after new report lauds benefits of same-day registration The new line-up for [...]

North Carolina’s largest public school system may be warning of “enormous disruptions” without speed [...]

Carol Turner hadn’t lived in North Carolina long before last November’s election. A retired nurse, s [...]

Controversy over class-size requirements in early grades has emerged as the biggest issue facing Nor [...]

How the General Assembly is spending “crossover week” and what it ought to be doing The last week of [...]

To casual observers, the recent controversy surrounding public school class-size mandates in grades [...]

3,000---minimum number of K-3 teachers that school districts will have find to comply with the Gener [...]

The post ‘Backroom politics’ brewing appeared first on NC Policy Watch. [...]

Featured | Special Projects

Trump + North Carolina
In dozens of vitally important areas, policy decisions of the Trump administration are dramatically affecting and altering the lives of North Carolinians. This growing collection of stories summarizes and critiques many of the most important decisions and their impacts.
Read more


HB2 - The continuing controversy
Policy Watch’s comprehensive coverage of North Carolina’s sweeping anti-LGBT law.
Read more