Budget & Taxes

  • NC Budget Writers Should Beware of the Power of Compounding Expenditures

    For savers, compounding interest can be a great thing. It helps to accelerate the rate of increase of your money in the bank. For state budgets, however, the concept of compounding budgetary increases can rapidly create out-of-control spending obligations. For state budget writers tempted to think it safe to increase spending by, say, 4.5 percent […]

  • Gov. McCrory’s First Budget Proposal Unveiled

    “Changing policy through our budget.” That’s how newly elected Governor Pat McCrory described his first state budget proposal at a press conference Wednesday morning. McCrory’s plan would increase year-over-year spending by nearly half a billion dollars while not raising taxes. Most of the policy “changes” are focused on education. Total General Fund expenditures for fiscal […]

  • Taxpayer Bill of Rights: A Needed End to the Budget Roller Coaster

    This article originally appeared in the Raleigh News and Observer. North Carolina’s tax structure is almost assuredly going to receive an overhaul in 2013. Legislative leaders and newly elected Gov. Pat McCrory have made no secret of this. It is vital, however, that while addressing the revenue side of the state’s ledger, they don’t ignore […]

  • North Carolina Sales Tax Shift Could Help Workers

    This article originally appeared in the Fayetteville Observer. A change in North Carolina’s tax code is coming this year. The most likely outcome will be a reduction in the reliance on our state’s income taxes and more of a reliance on an expanded sales tax. Critics complain the new tax structure would ask too much […]

  • House Bill 35: Giving a Voice Back to the People

    House Bill 35, with primary sponsors Rayne Brown (R-Davidson) and George Cleveland (R-Onslow), would repeal the statutory authority enabling the state to issue Certificates of Participation (COPs) as a form of debt financing. COPs have been the preferred method of non-voter approved debt for the state since 2000. Traditional, general obligation bonds require a vote […]

  • ‘Regressive’ Sales Tax is a Relative Term

    This article originally appeared in the News & Observer. There is one talking point that has become the go-to objection to eliminating North Carolina’s state income taxes and replacing the revenue by expanding the sales tax: “This will shift the tax burden from the rich and onto the backs of the poor!” But that complaint […]

  • 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 in 1900 as one of […]

  • 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. “It’s economics.”  And it’s the […]

  • 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, where the Senate President Pro […]

  • Why should North Carolina modernize its tax code, and why should state lawmakers consider state income tax elimination?

    Check out this short video for answers to these questions….

  • 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 Tax Foundation ranks North Carolina […]

  • 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 Ronald Reagan, and Stephen Moore, […]

  • 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 opportunity. But taxes are a […]

  • 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 System State Health Plan for […]

  • 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 System State Health Plan for […]

Page 2 of 1912345...10...Last »