Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Some articles are painting the tax cut as a boon to citizens, and as a move by McCory and the legislature to get some good press, but I have not seen anyone respond to this favorably. At best I've seen McCory supporters silent on the issue. This cuts the States revenue and it doesn't put much money back into the working class pocket to make up that revenue elsewhere (i.e. sales tax, home sales). As others have said, it will either mean a cut in services or increase in other tax areas.
Location: The place where the road & the sky collide
23,814 posts, read 34,693,648 times
Reputation: 10256
Quote:
Originally Posted by macjr82
Some articles are painting the tax cut as a boon to citizens, and as a move by McCory and the legislature to get some good press, but I have not seen anyone respond to this favorably. At best I've seen McCory supporters silent on the issue. This cuts the States revenue and it doesn't put much money back into the working class pocket to make up that revenue elsewhere (i.e. sales tax, home sales). As others have said, it will either mean a cut in services or increase in other tax areas.
I've seen this before when Christie Whitman cut income taxes in NJ. At a minimum, this will push up property taxes. Services will also be cut.
Didn't the governor at one point promise that any tax reform would be revenue neutral?
Counties and cities will have to make up the difference locally with either their own revenue increases or by cutting their services and expenditures or by a combination of both.
I suspect that the middle and upper incomes will push back locally to not have local taxes raised which will result in many cuts to programs, services, etc. at the local level. If that happens, I expect parks and recreation departments to suffer, public amenities to suffer, local programs to suffer, etc. Or, we end up with a pay as you go model where fees will be attached to many things that are now free/funded through taxes.
What I can't wait for is the inevitable "blaming of the Democrats" that will come from increased fees, etc. by many who are not paying attention to what's happening now.
In the end, the people who will really suffer will be the small rural communities across the state that don't have the ability to raise revenue like the wealthier communities and counties. The irony will be that these rural communities are often the communities that put the current government in power.
The last statement is spot on, you get what you voted for! The same people that voted for this current administration are the ones who will be the ones to get screwed in the end, boy do I love the irony!
The last statement is spot on, you get what you voted for! The same people that voted for this current administration are the ones who will be the ones to get screwed in the end, boy do I love the irony!
Actually in this state you don't get what you voted for since we have a veto-proof majority in both houses but the republicans only won the House by 0.1% and the senate by 2%, and they lost the vote for congressional representatives but still control 9 of the 13 seats. If it weren't for gerrymandering we would have an evenly divided state government right now. So no... this is not what North Carolinians voted for at all. It's what we're getting though.
The other swing states that were conquered by the GOP in 2010 are suffering a similar fate. Missouri, Ohio, Wisconsin, Pennsylvania, Virginia, and Florida all have GOP majorities holding their state hostage against their voters' interests due to gerrymandering. And because they control all these state governments they also control the House of Representatives, despite receiving a few million less votes than Democrats in 2012. It is a state tragedy as our governor is going to rubber-stamp anything the GA passes but it's a national tragedy too since they can effectively block anything productive from ever happening at a federal level.
I've seen this before when Christie Whitman cut income taxes in NJ. At a minimum, this will push up property taxes. Services will also be cut.
Left NJ and was paying $6000/year on a semi with a 30x127 lot. As the state cut taxes the counties could only raise Property rates to make up the shortfall
Location: The place where the road & the sky collide
23,814 posts, read 34,693,648 times
Reputation: 10256
Quote:
Originally Posted by Boss
Left NJ and was paying $6000/year on a semi with a 30x127 lot. As the state cut taxes the counties could only raise Property rates to make up the shortfall
,
First it was the tax cut, then the Abbott districts to finish us off. Mercifully, an Abbott District type ruling is unlikely to happen here.
Hopefully, when the Democrats are back in control they'll fix this, unlike what McGreevy did.
And turn us into a failed state like California or Michigan? No thanks. Those of you that think the government is not taking enough of your money are free to keep paying taxes at the current rate.
Oregon and Delaware are better examples of what Democrats actually do when they have power. No sales tax, all income tax. And funny enough, neither of those states are failing. In fact Delaware has the highest GDP per capita of any state if I'm not mistaken. Lots of out of state money comes in to avoid sales taxes.
Location: The place where the road & the sky collide
23,814 posts, read 34,693,648 times
Reputation: 10256
Quote:
Originally Posted by Vatnos
Oregon and Delaware are better examples of what Democrats actually do when they have power. No sales tax, all income tax. And funny enough, neither of those states are failing. In fact Delaware has the highest GDP per capita of any state if I'm not mistaken. Lots of out of state money comes in to avoid sales taxes.
Yup.
That was another side-effect of Christie Whitman's tax cut. She got a law changed to use state money intended for teachers' pensions (Teachers paid & the state was supposed to put money in as well.) to plug the hole in the budget caused by the tax cut. The next governor tried to jack up cigarette taxes to make up the difference. The 2nd cigarette tax raise sent people in South Jersey to Delaware where they also bought other taxable items, while they were there. The state lost sales tax because of this stupid idea.
What are the Republicans going to do next year when there is a tax holiday in SC & not here? Do they honestly think that groups won't plan bus trips & individuals won't drive down? This is just as dumb & poorly thought out as Jim McGreevy trying to balance the NJ budget with never-ending increases in cigarette taxes.
This is nothing more than the Bush Tax Cuts all over again! Just like Bush said that his tax cuts are going to boost the economy, Mr. Mccrory is saying the same thing about his tax reform plan, but we all know that this is nothing but more giveaways to millionaires and billionaires and big corporations, while middle and lower income people will be left to foot the bill, LIKE WE ALWAYS DO! Don't be fooled by this scam, we've already seen this before when Bush was President! When this scam didn't work on a national level, what makes you think it's going to fare any better for this state? I tell you, after McCrory and his Republican cronies get thru wrecking this state, we will be worst off than we were before they took over!
"For example, a married couple filing jointly with two children who make $40,000 a year will pay $80 less under this tax plan. The same couple filing jointly with two children who make $250,000 will pay $2,434 less."
A couple making 40K a year gets $80 while a couple making 250K gets $2434? In effect, if you make 6+ times that of a 40K household, your tax reduction is more than 30 times larger.
Your comparison would be more informative if we knew how much more the 250K couple is currently paying in taxes than the 40K couple is paying.
Knowing their tax reduction would be 30 times larger doesn't provide enough information for me to know if I should be disgusted or not. What if they're currently paying 30 times more than the 40K couple?
Does anyone have the information?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
