- The Progressive Pulse - http://pulse.ncpolicywatch.org -

Big Money Campaigns Won’t Mask Reality of Tax Shift Proposals in Raleigh

The expensive marketing campaign that an extreme, anti-government national  group launched in North Carolina this week to promote a great tax shift that will hurt the state’s economy flies in the face of the facts.

Arlington, Virginia-based Americans for Prosperity is throwing financial weight behind a plan that would  drastically cut North Carolina’s corporate income and personal income taxes. The billions of dollars in tax revenue lost due to the tax cuts would be replaced largely through a higher, expanded sales tax – or, just as bad, they won’t be replaced and North Carolina will lack the resources to  invest in the building blocks of economic growth.

Here are the facts that no amount of money spent on marketing can cover up:

Those who claim cutting taxes will spur job creation and economic growth ignore the reality that the opposite is likely to happen, in the short run and far into the future. No marketing campaign can mask the facts.  What’s underway in North Carolina is a great tax shift – not tax reform. That’s a direction North Carolina can’t afford to go.