Myron Pitts of the Fayetteville Observer has a worth-reading column in this morning’s paper in which he says the conservatives running the state may come to regret the extreme path they’ve followed this session.
“For sure, the wealthiest folks in the state will do quite well in the new scenario. With their top tax rate of 7.75 percent replaced with a regressive, flat tax, they stand to make thousands more per year in personal income. The corporate tax rate has been reduced, too, from 6.9 to 6 percent.
But should we be surprised by this shift of money up the ladder? The state’s budget director, Art Pope, is very rich with money he made off the very poor, through his discount retail chains, such as Roses and Maxway. Read More