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.
I agree with you. When I moved here I was surprised that groceries are taxed here. It adds up over time...
That was enacted by Terry Sanford in the early sixties in order to improve the schools except it was soon taken from the schools by the same democrats that enacted it. We have Governor McCrory now because the person before him robbed this little education kitty to pay other state bills.
That's also why any time we are asked to vote any more taxes for the schools I vote against them because I know it is a lie. It is a way to charge higher taxes so they can later use them for another reason. If all our food taxes were used for the schools, we would have the best schools in the country.
Our lottery is supposed to be for schools too. How is that going? I am asking because I really don't know. Imagine if our schools got all the lottery money and all the food taxes!
This is oh so true! People always think they have it so badly. The truth is NC residents are pretty lucky, and they should be proud that they're part of such a great state. This is where Texas has it right. Texas pride is a real thing. A lot of it, I feel, has to do with completely unfair media attention of HB2 and classifying it as something it wasn't. The media has worked overtime to unfairly bash NC, and instead of using such unfair treatment to fire up residents, many residents have chosen to become depressed. It's really criminal.
I have met a lot of people over the course of my life, and I have learned that people would rather complain about their situation than actively try and fix that situation through self-investment and hard work. When people look to government to fix their problems, the chances of success are approaching 0%. The way to succeed is to keep as much of your paycheck as possible and reinvest it in yourself.
That would be much easier to accomplish if we didn't have people moving from nanny states bringing law suits against our government. Our taxes in Union County just went up about 1/3 because of these bullies who moved here and started trouble.
That would be much easier to accomplish if we didn't have people moving from nanny states bringing law suits against our government. Our taxes in Union County just went up about 1/3 because of these bullies who moved here and started trouble.
I would like to sincerely apologize for some of us from the Mid-Atlantic area. You have to understand something about where we live. The traffic is horrendous. Welfare is out of control. It's freezing cold in the winter and hot and humid in the summer - we get hardly any pleasant weather at all, it goes from the dead of winter to the dead of summer. The roads are in awful shape and traffic is incredible. Believe me when I say you've never experienced real traffic in your life living in NC. Come to the Philadelphia area where I live, or drive through NYC into Connecticut, which I did last weekend. It took me almost an hour and a half to get home from a Phillies game yesterday. It's barely 20 miles. It's just a whole different world.
We have the lowest quality of life in the country paired with the longest work weeks, worst weather and highest taxes. As a result, we're unusually tough, sarcastic and we like to prod people. One thing we CAN do is take a joke. We're a tough bunch, so don't confuse our sarcasm with hatred.
The secret is out that the quality of life is better where you are. However, one area to be happy is that you're typically getting the best of us. We have superior food and a superior sense of humor, so expect your restaurant industry and entertainment industry to see major gains. America is becoming more and more liberal - it has its positives and negatives. I myself am extremely economically conservative and believe in "the power of the purse" - let me keep my money and I'll decide how to use it and take care of myself accordingly - and I grew up in NJ. There are a lot more of us than you think up north.
The majority of middle and lower income workers would have more of their paycheck to invest in themselves if the current NC gov't hadn't put policies in place that have raised the sales tax burden and kept workers wages.
NC has a flat income tax. The income tax has gone down substantially. Middle and lower income families, assuming no wage increase or decrease, have more money in their paycheck today. Sales tax is a voluntary tax. If these residents are paying more sales tax, it is because they are buying more things with their newfound income. These figurative workers you speak of, simply put, can choose to save more of their money instead of spending it. NC has set them up for success - if they are throwing that money down the toilet on frivolous possessions, that's their fault. They are improperly managing their wealth.
I believe the standard deduction goes up again next year to $8,000, right? That's not bad, especially for lower income families. Married families will have their first $16,000 in income exempt, while they've seen their income tax drop from the 8's% to 5.5%. Nice work, NC!
Quote:
Originally Posted by TarHeelNick
It is incredibly naive to believe that lower corporate taxes benefit the average middle or low income worker.
This is a flat-out fabrication. Job growth in NC has exploded due to corporations flocking to the state to take advantage of the lower tax structure. Either you are completely ignorant of the data or you're outright lying to promote an agenda.
Quote:
Originally Posted by TarHeelNick
Texas has no income tax but has property taxes that rival those of the Northeast and has insanely high tolls on many of their roads (want to fly out of DFW airport; better have $20 for the toll road to get in!)
Correct, because tax money has to come from somewhere and these sources are stable.
Property taxes are superior to income taxes as a revenue source because while the job market is variable, property values remain stable and intact because people need somewhere to live. Sales tax is a good thing in some cases because it incentivizes politicians to institute policies that grow the economy. That is why Texas is the place to be for career opportunity - superior structure. What do you expect? Zero taxes? NC is improving, that is a fact.
Tolls, love them or hate them, are a superior way to obtain income to repair roads because they are skewed to those that utilize the roadways the most. If you are using that road the most, you pay the most to repair it. Believe it or not, toll roads are a fair thing. Do I hate them? YES! We have to many tolls where I live. But if you remove your emotion and think logically, it is the "fairest" way to go.
Quote:
Originally Posted by TarHeelNick
North Carolina has been attractive to business and innovators because of the presence of a the presence of higher-education institutions and and overall investment in education.
Mississippi has low taxes too...I don't see people flocking there.
Your post isn't making much sense.
PA has tons of educational institutions. Businesses are leaving PA because the tax structure stinks. You clearly did not read North Carolina Illustrated, because it shows how NC went from one of the least business friendly states to one of the most business friendly. I suggest you read it.
No, I'm not keeping more of my paycheck, I'm shelling out more money and getting less for it!
Your standard deduction is going up to $8,000 while your income tax has fallen from over 8% to 5.5% starting next year. You're keeping more of your paycheck.
Quote:
Originally Posted by TheEmissary
How do poor people save anything, when they have no choice but to spend what little they make.
This is a ridiculously fallacious argument. How does anyone save anything?
They live below their means. Our "poor" have air conditioning, iPhone's for everyone in the family, multiple flat screen televisions and multiple gaming consoles with high speed internet. Nobody NEEDS any of that stuff, but they choose to spend it instead of saving it. Most "poor" people are poor because they want to be. Outside of less frequent instances where health and tragedy play a role, the overwhelming majority of Americans can accumulate significant wealth by simply balancing their checkbook and investing the proceeds wisely. They just don't want to do it.
This janitor saved an $8M fortune. It's simple - open up a Roth IRA, index your money and set up a few Direct Stock Purchase Plans/Dividend Re-investment Plans. Set it in autopilot and let time do the work. I have a DRIP in Johnson and Johnson and Exxon Mobil. I pay $1/month in fees. Look them up on Computershare.com. I do nothing - they deduct my checking account every month and I buy stock for virtually free. In another 30 years I expect it to be a nice sum.
It's simple, be robotic and disciplined instead of greedy and jealous.
Quote:
Originally Posted by TheEmissary
Rich people can shelter income and pay lower tax rates than working stiffs. If I save $100 on my income taxes and pay $200 more in sales taxes on items the idiot legislature recently decided are taxable, how am I paying less? An expanded state income tax that bends the curve upward is needed in NC so the top 10% pay a lot more!
Sir or Madam, your problem is your attitude. If you're content with being the type of person that prefers to get angry at those who "have more," you're choosing to permanently handicap yourself. Through simple, disciplined, routine investments, you can easily be one of those wealthy people you hate so much if you're willing to develop a plan and stick to it for 25-30 years. There will always be people faster, stronger, smarter and richer than us. We can either spend our time hating them for it, or we can spend our time being the best we can be with what God gave us.
Location: The place where the road & the sky collide
23,814 posts, read 34,688,469 times
Reputation: 10256
Quote:
Originally Posted by ChocoTaco369
Your standard deduction is going up to $8,000 while your income tax has fallen from over 8% to 5.5% starting next year. You're keeping more of your paycheck.
This is a ridiculously fallacious argument. How does anyone save anything?
They live below their means. Our "poor" have air conditioning, iPhone's for everyone in the family, multiple flat screen televisions and multiple gaming consoles with high speed internet. Nobody NEEDS any of that stuff, but they choose to spend it instead of saving it. Most "poor" people are poor because they want to be. Outside of less frequent instances where health and tragedy play a role, the overwhelming majority of Americans can accumulate significant wealth by simply balancing their checkbook and investing the proceeds wisely. They just don't want to do it.
This janitor saved an $8M fortune. It's simple - open up a Roth IRA, index your money and set up a few Direct Stock Purchase Plans/Dividend Re-investment Plans. Set it in autopilot and let time do the work. I have a DRIP in Johnson and Johnson and Exxon Mobil. I pay $1/month in fees. Look them up on Computershare.com. I do nothing - they deduct my checking account every month and I buy stock for virtually free. In another 30 years I expect it to be a nice sum.
It's simple, be robotic and disciplined instead of greedy and jealous.
Sir or Madam, your problem is your attitude. If you're content with being the type of person that prefers to get angry at those who "have more," you're choosing to permanently handicap yourself. Through simple, disciplined, routine investments, you can easily be one of those wealthy people you hate so much if you're willing to develop a plan and stick to it for 25-30 years. There will always be people faster, stronger, smarter and richer than us. We can either spend our time hating them for it, or we can spend our time being the best we can be with what God gave us.
Your standard deduction is going up to $8,000 while your income tax has fallen from over 8% to 5.5% starting next year. You're keeping more of your paycheck.
This is a ridiculously fallacious argument. How does anyone save anything?
They live below their means. Our "poor" have air conditioning, iPhone's for everyone in the family, multiple flat screen televisions and multiple gaming consoles with high speed internet. Nobody NEEDS any of that stuff, but they choose to spend it instead of saving it. Most "poor" people are poor because they want to be. Outside of less frequent instances where health and tragedy play a role, the overwhelming majority of Americans can accumulate significant wealth by simply balancing their checkbook and investing the proceeds wisely. They just don't want to do it.
This janitor saved an $8M fortune. It's simple - open up a Roth IRA, index your money and set up a few Direct Stock Purchase Plans/Dividend Re-investment Plans. Set it in autopilot and let time do the work. I have a DRIP in Johnson and Johnson and Exxon Mobil. I pay $1/month in fees. Look them up on Computershare.com. I do nothing - they deduct my checking account every month and I buy stock for virtually free. In another 30 years I expect it to be a nice sum.
It's simple, be robotic and disciplined instead of greedy and jealous.
Sir or Madam, your problem is your attitude. If you're content with being the type of person that prefers to get angry at those who "have more," you're choosing to permanently handicap yourself. Through simple, disciplined, routine investments, you can easily be one of those wealthy people you hate so much if you're willing to develop a plan and stick to it for 25-30 years. There will always be people faster, stronger, smarter and richer than us. We can either spend our time hating them for it, or we can spend our time being the best we can be with what God gave us.
Thanks SB!
Well what have we got here! More words of wisdom from the Fresh Prince of Conshohocken! It seems all we have to do is follow his prescription fo financial success and we'll all end up as 92 year old millionaires!
Been there and done that! I retired at 51 and have accumulated enough money that I can write out a check for a new car or even a new house if I had to. I started investing at 24 and while I'm not a millionaire, I'm more than halfway there. Trust me, I'm not at all jealous of rich people!
I am acutely aware that there's a lot of people in this world who are not as fortunate in the financial sense as I am. I went to very good schools where I learned math ...from simple arithmetic to differential equations and I can tell you that under the current NC tax system, I pay more than I used to ...with not a relatively high retirement income! This is true for a vast number of North Carolinians who aren't high income folks, who have been bamboozled by the RWNJ NC legislature that they are somehow better off than they were a few years back. They and I aren't!
I find my NC political ideas mirror this clip from HBO's "The Newsroom". I'm feeling more like Jeff Daniel's character every day!
If you are offended by a few choice curse words avoid watching this clip!
That's unfortunate. Some people learn too late. Others never learn. This is why a positive attitude and self-investment is such an important principle to learn young. Time is the #1 contributor to wealth and success.
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.
)
