Budget & Taxes

 

The Path to Prosperity: Spending Cuts, No Income Tax, and Free-Market Schools

Our state has been suffering with high unemployment and sluggish economic growth since the 2008 financial crisis primarily because of an inadequate educational system, high taxes and poor investments by state government. It is instructive to remember that North Carolina, devastated in 1880 from the post Civil War era, emerged…

 

Famed Economist: NC Can Get Ahead of the Curve

Famed economist Arthur Laffer provided real-world economic solutions at the Civitas Institute’s legislative training session recently in Raleigh. First, though he is best known for “the Laffer Curve” showing how tax cuts can bring in more revenue, and for advising President Reagan, he’s not about party or ideology, he said.…

 

Why All U.S. States Should Eliminate The Income Tax

This article originally appeared in Forbes Magazine. Louisiana Governor Bobby Jindal, Nebraska Governor Dave Heineman, and Kansas Governor Sam Brownback have all called for their states to eliminate their income tax and replace it with a sales tax over the past week. They were joined yesterday morning by North Carolina,…

 

5 Principles to Cut Through the Noise on Tax Reform

The need to reform North Carolina’s tax structure is urgent. Our state’s economy continues to struggle, suffering from a 9.7 unemployment rate – fifth highest in the nation. Job and income growth in the private sector have been stagnant this decade, as we fall behind regional and national averages. The…

 

Taxes Really Do Matter: Look at the States

The Laffer Center for Supply-Side Economics at the Texas Public Policy Foundation has joined the Civitas Institute to publish a recent analysis of income taxes at the state level. The study, “Taxes Really Do Matter: Look at the States” authored by Dr. Arthur B. Laffer, a former advisor to President…

 

Income Taxes Hold Back NC’s Economy

A similar version of this article originally appeared in the Charlotte Business Journal “The power to tax is the power to destroy.” That is an oft-repeated paraphrase of a quote from former U.S. Chief Justice John Marshall in an 1819 court decision. Indeed taxes do destroy: incentives, productivity, businesses, and…

State Health Plan for Employees and Retirees Reform

State Health Plan for Employees and Retirees Reform

This is the third installment of a four-part series outlining a blueprint for meaningful state budget reform for North Carolina. This article focuses on the growing and unsustainable health insurance benefits provided to state government employees and retirees A Blueprint for Budget Reform Reforms Needed for North Carolina’s Ailing Pension…

 

Reforms Needed for North Carolina’s Ailing Pension System

This is the second installment of a four-part series outlining a blueprint for meaningful budget reform for North Carolina. This article addresses an issue causing financial stress to states across the nation: the pension plan for government retirees. A Blueprint for Budget Reform Reforms Needed for North Carolina’s Ailing Pension…

 

A Blueprint for Budget Reform

The following article is the first installment of a four-part series tackling the issue of long-overdue budget reform in North Carolina. This article outlines some broad measures that would provide much-need checks and restraints on state budget growth, while the following three articles detail more specific reforms that could save…

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