More bad fiscal news as NC’s tax cuts for the rich continue to take their toll

2014 End of Year Charts_tax cuts dig a holeAs the fiscal wonks at the N.C. Budget and Tax Center have repeatedly warned us would happen, the 2013 tax cuts (which went overwhelmingly to the rich and large, profitable corporations) continue to wreak havoc with the North Carolina state budget. As reported late last night, a new memo to lawmakers from the legislature’s Fiscal Research Division warns that the state budget shortfall is now up to $271 million for the current year.

Remember, this is happening in a time of (albeit imperfect) economic recovery around the country. For the most part, other states are gaining back the ground they lost during the Great Recession and repairing the damage inflicted upon essential state services.

Here in North Carolina, however, the opposite is true. Public spending on core functions like public schools remains mired near the bottom of the 50 states and, amazingly, many state agencies are now being asked to plan for a new round of additional budget cuts in 2015-16.

The bottom line: If things continue this way, conservative state leaders will succeed in their quest to fulfill right-wing icon Grover Norquist’s dark and disturbing vision of shrinking government down to the size at which they can “drown it in the bathtub.” Moreover, from the looks of things, they’re going to take a lot of average North Carolinians down the drain with them in the process.


  1. Alex

    February 11, 2015 at 9:53 am

    Every working person in North Carolina received a tax cut all across the board. You’ve been beating that dead horse of “tax cuts for the rich” for so long that you actually believe it now.

  2. Rob Schofield

    February 11, 2015 at 11:06 am

  3. Geno

    February 11, 2015 at 2:39 pm

    I’m a working person. I just finished my taxes. I have paid more and more each year for the past 3 years…yet my salary has not increased. They are liars.

  4. LayintheSmakDown

    February 11, 2015 at 7:48 pm

    All the progressos have is a dead horse that smells so bad that they have scared anyone away from actually listening. And Shofield, when you are referencing the NCJCenter you are not actually referencing a reputable source…..what’s next another PPP poll that is incorrect?

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