How much did temporary sales tax raise?

Submitted by ryanteaguebeckwith on September 25, 2008 - 4:38pm.
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How much did the temporary sales tax raise?

Facing a budget shortfall in 2001, the legislature increased the sales tax by a half-cent. The taxes were extended in 2003 and 2005, then cut in half in 2006. In 2007, the remaining quarter-cent increase was made permanent.

The N.C. Department of Revenue recently calculated the total amount of money raised by the temporary sales tax hike in each budget year:

2001-02: $413 million
2002-03: $441 million
2003-04: $480 million
2004-05: $507 million
2005-06: $552 million
2006-07: $391 million

In total, the temporary sales tax hike raised about $2.8 billion over the last six years.

Previously: Democratic Senate candidate Kay Hagan under fire for temporary taxes.

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careful what you wish for.

Submitted by zoobatmania on September 26, 2008 - 9:12am.

In the last two senate budgets they cut taxes for people making over $250,000 and corporations, but at the same time slashed services like Medicaid for the blind, elderly, and disabled.

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Re: How much did temporary sales tax raise?

Submitted by dahedgehog on September 25, 2008 - 5:57pm.

I would fully support the "temporary" sales taxes being replaced by an equal level of income taxes. While I think the state can use the revenue, it's ridiculous for the state tax burden to be as regressive as it is.

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Re: How much did temporary sales tax raise?

Submitted by maiapinion on September 25, 2008 - 5:34pm.

That's a whole lot of revenue. I'm sure glad Kay Hagan voted for those. I wonder where the state would be if she and her colleagues hadn't had the foresight to put those taxes in place?

Services cost money. People want services. Ergo, taxes. It's that simple. If you don't want services - like schools, roads, hospitals, police, fire departments, etc. - fine - vote Republican or Libertarian. But if you want services that keep people safe, vote for Democrats like Kay Hagan and Bev Perdue.

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