A majority of North Carolinians oppose tax cuts that put at risk the state’s investment in public education, a recent Public Policy Polling (PPP) survey shows. When presented with cutting funding for public schools in order to provide taxpayers a tax cut, 68% of North Carolinians oppose such a move.
The tax plan signed by Governor McCrory earlier this year reduced available revenue by $525 million over the next two years and revenue in future years is reduced even further. Benefits from tax cuts in the tax plan will largely flow to the wealthy and profitable corporations, which represent less than 10 percent of all businesses in North Carolina. Under the tax plan, the wealthiest taxpayers will see their taxes cut on average by more than $9,000, with top 1 percent of income earners getting 65 percent of the total net tax cut.
Opposition to cutting investments in public education to provide such tax cuts extends across ideology and political affiliation. Among poll respondents who considered themselves “somewhat liberal”, 84% oppose such tax cuts and 56% of respondents who considered themselves “somewhat conservative” oppose such tax cuts. Furthermore, a majority of respondents who identified as Republicans (58%), Democrats (77%), and Independents (63%) oppose such tax cuts, survey results show.
A strong majority of survey respondents also value an educated and skilled workforce. When asked whether low corporate taxes or an educated and well-trained workforce is a more important way to attract businesses to the state, 62% of respondents favored the latter. This preference was consistent across political affiliation, with a majority of Democrats (69%), Republicans (52%), and Independents/Other (59%) favoring an “educated and well-trained workforce” over “low corporate income tax rates”.
The survey results highlight an important fact – when presented with the real trade-offs, the majority of North Carolinians favor investing in public education and building a quality workforce rather than tax cuts. This preference is indeed the best way to promote economic opportunity for all North Carolinians.