NC Budget and Tax Center

Cataloguing the Impact of the Senate Tax Plan

In any public policy debate, fact-based analysis is critical. As North Carolina continues to discuss a major overhaul to the state’s tax code, there are numerous analyses that allow lawmakers and the public to see how the Senate tax plan will impact taxpayers and the state.

Here are a few of the best resources and analysis:

In the face of such evidence, lawmakers should scrap the current tax plans and instead look for a way to reform the tax code without hurting middle-class and low-income families and local communities.

3 Comments

  1. Jim Hanson

    June 19, 2013 at 2:23 pm

    The article’s reference to seniors needs to be looked at from an overall viewpoint.
    The reference show’s one example of an income of $56,000 (32,000 SS + 24,000 pension)
    Current tax $228, that is only 0.4% income tax. Very low
    Proposal : $683, that is still only 1.2%. Still a low income tax.

    Compare that to the overburdened single person in that reference with an income of $55,000 (25,000 SS + 30,000 pension)
    Current tax $1,255, or 2.3%
    Proposal : $ 1797, or 3.3%

    To treat people fairly, the single tax payer should be treated the same (if you earn it, you pay tax on it). So, I think the tax law needs to change to treat the single tax payer fairly. Remember, we were all born single, and many will be single again in old age.

  2. Doug

    June 19, 2013 at 8:50 pm

    Questions:
    How much do the top 5 percent pay of total taxes now percentages and dollars need to be considered

    There will be taxpayers families and seniors who win in the plan too…..and most certainly have been taxpayers families and seniors who have lost under the current unfair schemes….so your point?

    The tax plan is not targeted to be generous…just to come into the modern tax structures as has been sought by recent dem regimes….so your point?

    Where is the economic consensus that the current scheme is competitive? I would think you guys could show how NC is economically ahead with lower unemployment, less debt, general economic competitiveness….something to show we are better off, but that is never forthcoming….maybe there is not consensus there either…HMMMMM.

    So your point on property tax, income etc is? No matter what the government is going to get something somewhere…you know the death and taxes saying.

    Cities and counties have their own governments and can raise and lower taxes as needed….see the previous point. It may actually be a better thing as the person raising the taxes has to face the voters on a more personal basis and the voters have more visibility and control because they can directly see how the dollars are spent on schools, police etc. This is actually a good thing.

  3. Love & truth

    June 27, 2013 at 2:28 pm

    Doug,

    Who exactly are those cities & counties raising revenue/taxes on? The two thirds of their population who are unemployed with no benefits come Monday?