Subscribe to
Posts [Atom]
Wednesday, July 22, 2009
We Hate the Sales Tax
Because sales taxes are not based on the ability to pay. Sales taxes are essentially underhanded. One sees different brands of coffee on the shelf, ranging in price from (very) high to (possibly) affordable. But that's not the price of the coffee, 'cause at the cash register the agents of the state are going to tack on 6 percent or 10 percent or whatever percent, and you've been snookered. Worse, sales taxes are regressive, meaning that as income decreases, tax as a percentage of income increases.
And the Democratic grandees in the state Senate intend for us to pay more of this regressive tax, while they coddle their corporate buddies. N.C. House leaders had wanted, for their part, to reform corporate taxes by instituting "combined reporting," which would have made it harder for mega-corps to hide their profits, which is to say, pay their fair share of state taxes for the privileges of doing business in N.C. But under pressure from the state Senate, the House has abandoned that reform.
A 1-cent sales tax increase (which seems likely) would raise $843 million in the next fiscal year. Legislative analysts predicted requiring combined corporate reporting would have raised $18.5 million this year and $43 million next year. Apparently, our working citizens are much greater money-bags (and softer targets) than big corporations
You don't have a lobbyist down in Raleigh, most likely. The corporations do.
And the Democratic grandees in the state Senate intend for us to pay more of this regressive tax, while they coddle their corporate buddies. N.C. House leaders had wanted, for their part, to reform corporate taxes by instituting "combined reporting," which would have made it harder for mega-corps to hide their profits, which is to say, pay their fair share of state taxes for the privileges of doing business in N.C. But under pressure from the state Senate, the House has abandoned that reform.
A 1-cent sales tax increase (which seems likely) would raise $843 million in the next fiscal year. Legislative analysts predicted requiring combined corporate reporting would have raised $18.5 million this year and $43 million next year. Apparently, our working citizens are much greater money-bags (and softer targets) than big corporations
You don't have a lobbyist down in Raleigh, most likely. The corporations do.
Labels: North Carolina corporate taxes, North Carolina Senate
Monday, April 13, 2009
More Foxx Bilge
One of Madam Virginia Foxx's favorite myths is that North Carolina has the highest corporate taxes "in the Southeast." She repeated the lie to the Jefferson Post last week.
Actually, researchers at the Big 8 accounting firm of Ernst & Young reported in February that North Carolina has the LOWEST business tax burden in the U.S. According to the report total state and local taxes paid by businesses in North Carolina consume fully 3.6% of the Gross State Product. That is the LOWEST percentage of any state in the country. (Discussion & links here)
And, oh yeah, there's nothing good about President Obama's economic policies, and nothing he is trying will work.
Sez the woman who's been judged harmful to children.
Actually, researchers at the Big 8 accounting firm of Ernst & Young reported in February that North Carolina has the LOWEST business tax burden in the U.S. According to the report total state and local taxes paid by businesses in North Carolina consume fully 3.6% of the Gross State Product. That is the LOWEST percentage of any state in the country. (Discussion & links here)
And, oh yeah, there's nothing good about President Obama's economic policies, and nothing he is trying will work.
Sez the woman who's been judged harmful to children.
Labels: Barack Obama, North Carolina corporate taxes, Virginia Foxx
