Lower taxes for North Carolina? Kinda
April 22nd, 2009 by Rhiannon Bowman in News
Wait for the “but” …
North Carolina’s Senate Democrats are set to consider a plan Wednesday that would change the state’s tax system by reducing overall rates but adding taxes to many services for the first time.
The Senate Finance Committee is expected to receive a proposal that would lower the sales tax rate people pay in most counties from 6.75 percent to 6 percent and reduce corporate and individual income tax rates, according to a document highlighting the potential changes obtained by The Associated Press. The 2 percent tax on food at grocery stores and other retailer also would be repealed, the document said
But the proposal, which will serve as a template for Senate leaders seeking to reform the tax system this year, also would place the sales tax on a host of services, including building repairs, warranties, information technology, moving expenses and sales of downloaded music and software.
Read the rest of this WRAL.com article here.
April 22nd, 2009 at 5:23 pm
[...] Originally posted here: Lower taxes for North Carolina? Kinda | theCLog [...]
April 22nd, 2009 at 6:14 pm
WOW!
Who originally came up with the brilliant plan to cut taxes to help the economy. I remember it was the republicans. I am saying I told you so but it is better late than never.
Good Idea.
Too bad Obama is too hung up on his spreading the wealth ideas to do the right thing as well.
April 23rd, 2009 at 9:22 am
You didn’t wait for the “but.” It’s important that you understand the issues before you spout off about them, though I understand that concept — understanding — may be too broad for your small mind.
April 23rd, 2009 at 10:17 am
You are a perfect example of what you call spouting off hehe. Your mind may be broad but it looks just a tad shallow.
Let me help you little one. The reduction of corporate taxes will induce more companies to come to Charlotte or atleast leave Charlotte at a lower rate. You are getting hung up on the me me me aspect of the taxes. We can wait and see how the balance of taxes work out on our bottom line but the reduction of corporate taxes is a very positive sign since companies are usually considered the devil, especially these days.
April 23rd, 2009 at 1:39 pm
Lawn Service, who has been cutting Charlotte laws for 15 years now, currently charges $50, no taxes included.
Soon, Lawn Service will charge $50 + 7% (picking a number) = $53.50.
They maintain the lawn twice a month, so that’s $107.00.
That’s also $84 — in new taxes — each year for ONE service. That’s not counting other services the lawn-maintenance-needing homeowner requires.
More, the time the lawn service has to spend filing forms and taxes — instead of cutting lawns — priceless. OR! The money they now have to spend to hire someone to file their taxes for them, the invoices they have to change, the accounting system they have to update, the customers they’ll lose, the time they have to spend gathering all of this information to hand over to their new bookkeeper…
This is better, huh?
I’m sure Lawn Service thinks it’s a GREAT idea.
April 23rd, 2009 at 2:43 pm
What you have shown could be true but you are ignoring the positive side of the equation.
Everybody eats and those taxes will be removed. We really wont know the total balance to specific services and the little guys until the actual numbers are released. The lawn service already has tons of paper work. Adding a simple percentage tax would be easy to compute (AKA “simple math”). If its already to hard for him he will continure to pay someone to do his taxes. If he does his own taxes this will not be too difficult for him to handle.
Personally I would prefer they just lower the taxes and not add any new ones on. Better yet the “fair tax” would eliminate all of the problems. No one would have to file taxes under the “fair tax”. The politicians could no longer pick winners and losers if we had the “fair tax”.