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Flat taxes are what we have here in NC. The result was higher taxes on those with a upper middle class income. The flat tax hurts about 90% of the population and does nothing to promote increased growth or job creation. It is another example of trickle down. It has never led to better living only a loss of spendable income for those who have the least to lose.
Flat taxes are what we have here in NC. The result was higher taxes on those with a upper middle class income. The flat tax hurts about 90% of the population and does nothing to promote increased growth or job creation. It is another example of trickle down. It has never led to better living only a loss of spendable income for those who have the least to lose.
Funny, I moved from San Diego to Morganton NC about 7 months ago and will pay about 40% less in state income taxes here. My car registration taxes are 75% less here, property tax 90% less, yet my income only dropped 15% for the same job. If I accept that what the Republicans did tax wise in NC is regressive, where does that place liberal CA?
Flat taxes are what we have here in NC. The result was higher taxes on those with a upper middle class income. The flat tax hurts about 90% of the population and does nothing to promote increased growth or job creation. It is another example of trickle down. It has never led to better living only a loss of spendable income for those who have the least to lose.
And BTW, job growth in Hickory and Morganton are at such a rate that there is alot of upward wage pressure especially at the the lower end of the scale. Fast food in Hickory had to go $8.50 to start just to get anyone to even apply and now have some chains contemplating $10 just to stay staffed. The talk of a $15/hr min wage concerns me, with my mortgage and car PMT, I would be real comfortable budget wise at $12.50. Plain old market forces are positively coming into play here, I don't want to see the Gov screw that up.
You see the same as I did 10 years ago. Well as a long term resident I see those advantages falling to the wayside. I see large increases in real estate, property, sales and use taxes. Large increases in cell phone, internet, land line fees. In fact large increases in service taxes such as for HVAC repairs, plumber, electrician and auto repairs all due to the flat tax plan. So yes this is lower then Ca. however the flat tax has hurt growth as well as income increases. You will find that you no longer have any deductions and your tax base will be higher then you realize, much higher then Federal tax basis.
And BTW, job growth in Hickory and Morganton are at such a rate that there is alot of upward wage pressure especially at the the lower end of the scale. Fast food in Hickory had to go $8.50 to start just to get anyone to even apply and now have some chains contemplating $10 just to stay staffed. The talk of a $15/hr min wage concerns me, with my mortgage and car PMT, I would be real comfortable budget wise at $12.50. Plain old market forces are positively coming into play here, I don't want to see the Gov screw that up.
This is an example of why the minimum wage needs to be a living wage. Service jobs are now the entry level for employment, the flat tax hurts those trying to earn a living and support themselves. It takes more away from those that earn less.
It sounds like my business tax will go down, but my personal taxes will actually go up without a little creativity.
It's good that he wants to increase the standard deduction, but to offset that he's removing the personal exemption which actually is a tax hike for a large chunk of people.
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