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... Why cap that for the several hundred thousand dollar center console or multimillion dollar yacht?....
You are over stating this to the point of hyperbole. To hit the $1500 mark at 3% you only need to purchase a vehicle that cost $50,000. Buy a decent boat and add a trailer to it and you are closing in on this amount easily. Buy a vehicle to pull it and it might hit you again.
While $50K is not a small amount, there are plenty of people in this state who end up paying this much and more for a vehicle these days. It's not limited to just a hand full of millionaires as you suggest.
IMO, they should eliminate the tax all together or bring it in line with that of neighboring states.
I for one will be glad when the midterm elections are over...all the hot air and hyperbole on both sides is outrageous.
It's no secret though, wealthy people support wealthy people's interest. At the least the wealthy Dems pretend to give a damn about the "takers"....key word is pretend. The GOP is straight to the point...gotta give em credit for not pretending.
This is a interesting mindset. I've never noticed that government had a hard time with imposing and collecting taxes.
On the other hand, every $ that is handed over to the state had to first be earned by someone. I disagree with you that it's easy.
Why should someone who can only afford $25K for a car pay the full 3% of the purchase price but someone who can afford an $80K car pay only 1.8% of the purchase price?
Second question. The NC General Assembly reduced the tax on wealthy individuals and corporations and created a situation where the expected revenues would fall short of the expected expenses, in other words, a hole in the budget forecast to be $500MM in 2014 and 2015.
Who should pay the $1 billion in new taxes, or should the NC General Assembly eliminate entirely the Departments of Environment and Natural Resources ($157 million), Agriculture and Consumer Services ($115 million), Commerce ($73 million) and Job Development and Investment Grants ($63 million), Administration ($67 million), Cultural Resources ($63 million) and the Secretary of State ($11.6 million) and save the $500 million a year.
Why should someone who can only afford $25K for a car pay the full 3% of the purchase price but someone who can afford an $80K car pay only 1.8% of the purchase price?
Indeed. It's not fair on many levels. Taxes are never fair because it's the process of government taking from one group to be handed to another.
Lets re-state this with real #s.
Tax on $25K car = $750
Tax on $80K car - $1500
My question to you is this. Why should someone who can only afford a $25K car be forced to first hand over $750 to the state of NC? Eliminate the tax all together. It's the most fair thing for all, if the issue is "fairness".
Quote:
Originally Posted by mlhm5
Second question. The NC General Assembly reduced the tax on wealthy individuals and corporations and created a situation where the expected revenues would fall short of the expected expenses, in other words, a hole in the budget forecast to be $500MM in 2014 and 2015.
Did you have a problem when the Perdue was doing it at a far greater extent and was borrowing the money, by the billions, which will have to be paid back by future taxpayers? if you did, then we might have a discussion. If not, then it's a partisan debate which doesn't interest me. I will say this again. Don't fall for the false "left" vs "right" paradigm.
Quote:
Originally Posted by mlhm5
Who should pay the $1 billion in new taxes, or should the NC General Assembly eliminate entirely the Departments of Environment and Natural Resources ($157 million), Agriculture and Consumer Services ($115 million), Commerce ($73 million) and Job Development and Investment Grants ($63 million), Administration ($67 million), Cultural Resources ($63 million) and the Secretary of State ($11.6 million) and save the $500 million a year.
This is what happens when the state spends and borrows money beyond it's ability to pay back. (See Beverly Perdue) Unlike the federal government the state can't print money.
Before I respond to your very specific cost cutting measures, please provide your sources for the budget shortfall. I find that many people who bring these things up have never taken the time to actually read the detail.
Why should someone who can only afford a $25K car be forced to first hand over $750 to the state of NC? Eliminate the tax all together. It's the most fair thing for all, if the issue is "fairness".
Since you're apparently opposed to taxes of any kind, please tell us this--what would one do with their $25K car, or their $80K car, if there were no roads on which to drive it?
Quote:
Originally Posted by WaldoKitty
I find that many people who bring these things up have never taken the time to actually read the detail.
Since you're apparently opposed to taxes of any kind, .
No where have I said this.
In regards to your last remark about me, I will be glad to discuss anything in detail. But you didn't provide anything relevant to the topic to disuss nor anything relevant about my post that you are responding to.
Hint: Please focus on the message and not the messenger.
46% of the 2013 tax cut's dollars went to those making more than $200K a year which is 2.7% of all NC households.
The tax cut resulted in a structural budget deficit where forecasts for the shortfall are $500MM for 2014 and another $500MM for 2015.
To make up this shortfall + the reduction in corporate taxes and the elimination of the estate tax $80MM a year), either the Republicans have to completely eliminate a lot of government departments or raise taxes.
Stealing money from the education budget is impossible after the teacher raise and since there was a $500MM hole in the HHS budget this year, there is no money to steal from there. Additionally there is no money left in the rainy day fund.
State law says the budget has to be balanced so you can bet the ones benefiting the least from the tax cut will be the ones that pay for the greatest share with an increase in a regressive sales tax.
^ You are offering up a lot of opinion, but no substance or source to back it up.
No I am offering up facts. Republicans created a structural deficit by cutting taxes below expected expenses and then did not cut expenses enough to address the forecasted $500MM budget deficit for FY 2014 and 2015.
LOL. That is a website the education lobby. What else do you think they are going to say?
If you want any credibility, present some numbers from the actual NC Budget that proves what you claim. It's there for anyone who wishes to read it and discover reality that isn't filtered through the eyes of a lobbying group.
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