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
Nothing to see here move along
January 24, 2013 - 1:13pm — PershingDriverJust another Totalitarian DNC attack on anything that would make the looter class pay thier fair share
Where do the numbers come from?
January 23, 2013 - 10:54am — piperscotOkay, 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.