A lot can change in 30 years – I remember the income tax in North Carolina as a relatively minor tax back in 1981. It’s now the 10th highest in the the country, which might explain why the state’s economy has not been doing well under Democratic leadership the past few years.<\/p>\n
Republican Governor Pat McCrory with his veto proof legislature is passing all kinds of “crazy” laws like requiring photo IDs to vote, blocking police for destroying guns unless the serial number has been removed, requiring abortion clinics to meet the standards of an outpatient surgery center…<\/p>\n
They are lowering the incoming tax rate from the current 7.75% to 5.75%, raises the standard deduction from $3000 to $7500…. but the goal for next year is to totally end the state income tax.<\/p>\n
How? Not by cutting spending, of course. The plan is to broaden the base of the state sales tax to include services – so you would pay a consumption tax on your insurance, lawyer fees, car repairs, dry cleaning, etc… and maybe bump up the rate a few percent to 8%.<\/p>\n
http:\/\/www.washingtonpost.com\/blogs\/govbeat\/wp\/2013\/09\/04\/north-carolina-republicans-will-aim-to-ax-income-tax\/<\/p>\n
The 10+% sales tax rate here in Chicago is brutal (it varies depending on which community you’re in) <\/p>\n","protected":false},"excerpt":{"rendered":"
A lot can change in 30 years – I remember the income tax in North Carolina as a relatively minor tax back in 1981. It’s now the 10th highest in the the country, which might explain why the state’s economy … Continue reading