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Ready to cry “uncle” yet? The folks running the North Carolina General Assembly hope so.  As Chris Fitzsimon will discuss this afternoon in today’s Fitzsimon File, the reactionary legislation is coming so thick and fast these days at the General Assembly that it’s simply hard to keep up — much less speak out or have input.

It’s no wonder more and more good people are simply speaking with their feet and bodies.

Yet another classic (and likely to be under-reported) example of extreme and destructive legislation simply getting lost in the shuffle on Jones Street is this measure – which would  prevent North Carolina from seeking LEED certification for public buildings. LEED (Leadership in Energy and Environmental Design) the best known and most respected “green” building rating system.  

The measure, which will be heard this afternoon in the House Agriculture Committee at 1:00 pm in 643 LOB, Read More

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Loan sharks…that high-interest loan companies in North Carolina “haven’t had a rate increase in 30 years”  tell him/her that this statement is, in a word, baloney (and feel free to use a stronger word).

#1: Inflation for lenders is accounted for through the issuance of larger and larger loans, not higher and higher interest rates. As with home and car loans, the average finance company loan in North Carolina 30 years ago was much smaller than it is today. It is simply absurd to even imply Read More

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The wonks at the Budget and Tax Center are out with a new report — “Cutting corporate income taxes won’t be an economic boon for North Carolina” — that ought to be a “must read” for state government leaders.

It lists three top reasons for not cutting corporate taxes:

  1. Corporate income tax cuts don’t pay for themselves and put key investments at risk.
  2. A very small share of corporations would benefit.
  3. Corporations are unlikely to expand or relocate because of state income tax cuts

It’s a quick, too-the-point read that you should check out too. Click here to do so.

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Fair fightCheck out this event to day if you get a chance!

LUCHADORAS TO FIGHT FOR TAX FAIRNESS ON TAX DAY

Turning Tax Day 2013 into a fun and memorable event with a serious call to action on Bicentennial Mall, 12:30 April 15th

RALEIGH, N.C. – Working families fed up with paying the costs for the lack of tax fairness will finally get a chance to settle the score between the people and the powerful when champions for both sides face off at a public wrestling match on Bicentennial Mall beginning at 12:30 P.M. on Monday, April 15th – Tax Day.

“We need a champion who will fight for justice and fairness, who will stand up to those in Congress who are holding the middle class hostage, who will challenge legislative leaders who want working folks to pay more so corporations can pay less,” said state AFL-CIO secretary-treasurer, MaryBe McMillan, in calling for the Fair Fight. Read More

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In the third installment in our three-part series on corporate tax avoiders with strong connections to North Carolina, NC Policy Watch has released a profile of International Paper, Co.

Here are some of the fast and disturbing facts on the giant multi-national (the largest company of its kind in the world) that owns 18 separate facilities in North Carolina:

  • Total assets $27 billion
  • 2008-2012 profits combined: $2.8 Billion
  • Net 2008-12 federal tax rate: 2.6% (the offical corporate tax rate is 35%)
  • 2008-2012 federal taxes paid: $74 million (if paid at the 35% rate, this figure would have been $980 million)
  • Five-year compensation of CEO John Faraci (as of April 2012):  $49.3 million

Read more about International Paper (as well as two other large tax avoiders — Duke Energy and Merck & Co.) by clicking here.