newsobserver.com blogs

Under the Dome

Liberal group releases report showing GOP tax plan benefits wealthy the most

The tax plan being considered by Republican lawmakers in the General Assembly is the most generous to the wealthiest North Carolinians while raising taxes on middle-income households, according to a new report from the N.C. Budget & Tax Center, an arm of the liberal N.C. Justice Center.

The center's report is designed to counter a study by Arthur Laffer and the conservative Civitas Institute that the GOP lawmakers are using as a blueprint for an overhaul of the state's tax code that includes a proposal to eliminate the personal and corporate income taxes.

"Carolinians while raising taxes on middle-income households," according to a summary of the center's report. "If implemented, a family earning $24,000 a year would see its taxes rise by $500 under the new tax plan, while one earning $1 million would get a $41,000 break. The wealthiest 20 percent of taxpayers will receive a significant tax cut – a cut paid for by shifting the tax load to 60 percent of the state’s taxpayers, primarily middle class and low-income households."

Titled "A 'Laffable' Plan for Tax Reform," find it here.


Comments

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Nothing to see here move along

Just another Totalitarian DNC attack on anything that would make the looter class pay thier fair share

Where do the numbers come from?

Okay, John. I've read the report and cannot figure out where their tax changes in dollars per quartile come from. In fact, they don't explain why the lowest quartile's taxes would go up $544 per year.

Cars View All
Find a Car
Go
Jobs View All
Find a Job
Go
Homes View All
Find a Home
Go

Want to post a comment?

In order to join the conversation, you must be a member of dome.newsobserver.com. Click here to register or to log in.
Advertisements