Unless a deal is struck that is favorable to the middle class, we go over the fiscal cliff in less than two weeks. My, oh my, how time flies while the men and women in Congress bicker about how much of other people’s money to take and how fast to spend it.
But what can’t be argued about is that it will cost the average North Carolina household making $45,210 a year about $2,100 more in taxes if the Bush tax cuts expire. Here is a simple, easy to use calculator to find out what it will cost you. On the flip side, if North Carolina eliminates its state income tax, the average North Carolina household will save $2,100 a year. You do the math.
Find out more about how to get rid of the state income tax at www.noincometaxnc.org, and while you’re waiting to get pushed off the fiscal cliff, here is a list of random things to do with $2,100:
- buy a used car for your teenager
- go on a cruise with your spouse for your anniversary
- visit Europe
- save for college or graduate school
- treat your pet for a broken leg or cancer
- file a patent with the Patent Office
- build a doomsday bunker