Tag search result

Tip: Clicking on tags in this page allows you to drill further with combined tag search. For example, if you are currently viewing the tag search result page for "health care", clicking on "Kay Hagan" will bring you to a list of contents that are tagged with both "health care" and "Kay Hagan."

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.

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

Want to post a comment?

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