In the Governor's budget proposal unveiled today, a few notable tax and fee increases were included.
- A Cigarette Tax increase from 35 cents per pack to $1.35 per pack. NC's cigarette tax would climb from 45th in the nation to 20th
- An increase of the tax on other tobacco products from 10% to 28% of the wholesale price
- Adding a 5% tax surcharge to all alcohol purchases
- An increase of the annual license fee on professionals from $50 to $200
All told, these four tax and fee hikes will reportedly cost North Carolinians $535.3 million for fiscal year 2009-10 alone.
With all this talk of jobs these days, how many jobs will be destroyed by sucking more than half a billion dollars from the economy?