This week, the Senate approved Senate Bill 325, Billion Dollar Middle Class Tax Cut, a bill that reduces income taxes for virtually all taxpayers and provides tax relief to North Carolina businesses. Estimates project that total tax savings will exceed $1 billion in the next biennium, and grow in size in future years.
These cuts will alleviate some of the tax burden on individuals and businesses in order to scale back government’s intrusion of our lives, and to create more job opportunities and economic growth.
In fact, the tax cuts laid out in SB 325 will benefit approximately 99% of North Carolina tax payers!
From a release sent by Senator Phil Berger’s office:
“Under this plan, 99 percent of taxpayers would pay less or pay no state personal income taxes – and the bulk of the tax cut would benefit middle class and working families earning less than $50,000 per year,” Senate leader Phil Berger said. “Our previous tax cuts led to a booming North Carolina economy and helped generate 500,000 new jobs, and we hope Gov. Cooper will enthusiastically support this billion dollar middle class tax cut.”
If the Governor supports a tax cut I would probably have a heart attack.The Democrat Party has a long history of raising taxes.Never remember a cut by one except John F.Kennedy.When he did it,we had a big boom in business just like we had with Reagan.Cooper will never go along with this,hopefully the legislature can overcome his veto.
It doesn’t matter to libs that this tax cut could not only generate more economic activity but also provide relief to taxpayers. What matters to libs is that they can’t buy as many votes when taxes are cut. And libs whine that ‘the rich’ (those who pay taxes) get more of a tax break than ‘the poor’ (those who either don’t pay taxes or get a payment from the gov’t). Libs want all tax ‘cuts’ to benefit their constituency, their voters, and those who don’t pay taxes (so they can’t actually get a tax ‘cut’).
But overall, the economy of the state will be better off by having a tax cut. Imagine businesses having a choice of moving to a high-tax state or a lower-tax state like NC. Where do you think the business is gonna go? Except for those who care about which bathroom gets used! Those businesses would rather pay high taxes so their employees can all share the same bathrooms!