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North Carolina picks prosperity through pro-growth tax reform
American Legislator ^ | 6-20-13 | William Freeland

Posted on 06/20/2013 8:41:39 AM PDT by ThethoughtsofGreg

Both houses of the North Carolina legislature are currently considering competing bills that lower taxes by $1 billion or more over the next five years, move the state to a pro-growth flat rate income tax system, and slash tax rates on businesses and North Carolina families. Both proposals have incredible potential to supercharge economic growth in North Carolina, leading to higher job creation and higher income growth across the income spectrum. ALEC’s Rich States, Poor States Economic Outlook Index measures a state’s future growth prospects given the state’s current public policy environment. The 6th Edition of Rich States, Poor States ranked North Carolina as 22nd overall. We have recalculated the results of the 6th Edition index to measure the effect of these proposals on North Carolina’s economic outlook and the results are staggering. Under the final phase-in of the House plan, North Carolina’s economic outlook would improve to at least 5th best overall, and under the Senate plan, the state would advance to at least 2nd overall after final phase-in.

(Excerpt) Read more at americanlegislator.org ...


TOPICS: Business/Economy
KEYWORDS: fairtax; incometaxes; regulation; taxes

1 posted on 06/20/2013 8:41:39 AM PDT by ThethoughtsofGreg
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To: ThethoughtsofGreg

Bless Gov. Pat and the new legislature here. My taxable income went up last year yet my N.C. state tax was HALF of what it was the year before. BRAVO!


2 posted on 06/20/2013 8:50:55 AM PDT by Edgar3 (Don't THREAD on me!)
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To: ThethoughtsofGreg

Compare this to Minnesota with over a $1 billion budget shortfall with Gov. Dayton and the Democrat controlled Legislature raising taxes on every Minnesotan and businesses large and small. North Carolina business recruiters should be flooding Minnesota to catch the exodus of businesses.


3 posted on 06/20/2013 8:56:50 AM PDT by The Great RJ
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To: ThethoughtsofGreg

Yeah!


4 posted on 06/20/2013 9:04:43 AM PDT by swampthang77
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