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Old 02-20-2009, 09:50 AM
 
Location: Raleigh, NC
9,043 posts, read 11,585,943 times
Reputation: 1392

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As expected:

Stimulus may cost N.C. $760M - Politics - News & Observer (http://www.newsobserver.com/politics/story/1411067.html - broken link)

Does it feel good to know that the welfare of places like Michigan and California will be borne by the backs of the triangle area taxpayers in the form of decreased revenue?

Keep wishing for the $$$ to end up here.
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Old 02-20-2009, 09:53 AM
 
9,198 posts, read 21,856,798 times
Reputation: 8537
How is that logic borne out??

Many states, NC included, base much of their income tax system on the federal income tax. Thus, if the feds make changes in how things are calculated, it can flow through to state systems. It's up to the state legislature whether that happens here or not.

Other states are likely facing the very same issues, so it's not necessarily a given that NC ends up bearing part of the cost for other states.
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Old 02-20-2009, 09:58 AM
 
Location: Cary
449 posts, read 1,509,967 times
Reputation: 483
You didn't read the article did you? Just the big, bold words?

State will get $6.1 billion.
State may lose $760 million in state tax revenue if it adopts changes in its tax code.

If NC "loses" that $760 million over 2 years, that is $760 million that NC taxpayers are not putting into the state coffers. Isn't that a tax break for you? It's not like NC residents are handing out checks to Michigan and Ohio.
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Old 02-20-2009, 10:16 AM
 
Location: Wake Forest
2,832 posts, read 6,588,510 times
Reputation: 2030
It just keeps getting better and better the more we learn about this multi Billion Dollar spend till you drop Bill!

I'm sure glad its Friday another week like this and we will all be flat broke irregardless of personal wealth we all may started the week with. Oh my!
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Old 02-22-2009, 09:05 AM
 
Location: Middle Creek Township
2,034 posts, read 3,939,508 times
Reputation: 526
Quote:
Originally Posted by dansdrive View Post
It just keeps getting better and better the more we learn about this multi Billion Dollar spend till you drop Bill!

I'm sure glad its Friday another week like this and we will all be flat broke irregardless of personal wealth we all may started the week with. Oh my!

Yep. As it turns out, if a state takes the temporary money, they have to make permanent changes which will cost them dearly over the years. It's a scam to get states to buy into much higher taxes in the long run, but then the "Great One" will be out of office and they will blame the next guy instead. Same story, different day. It's just so sad that the American voter is so completely ignorant to the facts. Hey, they got "Hope" though.
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