This blog originally founded by Blogger who holds a theological degree and a doctorate in Counseling Psychology. Taught Psychology for 32 years and is now Professor Emeritus. Is a board-certified psychologist and was awarded the Lifetime Achievement Award in his profession. Ministered as a chaplain, and pastored Baptist and Episcopal churches. Publications cover the integration of psychology and theology. Served in the Army, the Merchant Marines and the Peace Corps.

Monday, August 3, 2015

NC Tax Reform Creates Surplus

Final revenue figures for the fiscal year ending on June 30 reveal that North Carolina has a $445 million revenue surplus.
“The surplus is evidence that reforming the tax code and increasing competitiveness are strengthening North Carolina’s economy and putting more money into the budget of working families,” Governor McCrory said. “We must continue to be wise stewards of the taxpayers’ resources as well as maintain our efforts to make state government more efficient and responsive to the people.”


Wolf's Head said...

Don't worry, when the dems take back Raleigh they'll spend the surplus on sex reassignment surgeries, illegal voter registration drives and lawsuits against global warming industries.

Anonymous said...

A surplus through tax increase for those making under $65K.

Wolf's Head said...

Prove it.

Anonymous said...

From the News and Observer:

"Cedric Johnson, public policy analyst for the N.C. Justice Center’s Budget and Tax Center. He says the great majority of North Carolina taxpayers, regardless of age, are paying more.

“Taxpayers making under ($67,000), which is around 80 percent of taxpayers in North Carolina, will, on average, see their taxes increase under the tax plan,” he said.

And while most people are paying more, Republican tax changes will cost the state more than $5 billion over the first five years as the tax burden is reduced for the top 20 percent of taxpayers."

disgusted with Democrat Liars. said...

Why do liberals, when asked to prove something, respond by posting another liberals opinion that they agree with? The liberal NC JUSTICE CENTER is saying that "....80 percent of taxpayers in North Carolina, will, on average, see their taxes increase under the tax plan,”

WILL? ON AVERAGE? Sounds like a forecast, not a fact.

Anonymous said...

We've got to challenge the left wing spin doctors on the GOP-sponsored state income tax cuts. Some resort to blatant lies while other partisan researchers use disingenuous analysis. I challenge anyone to take their tax return numbers from 2014 and refigure their taxes using the old 2013 rules. I did and found that my state income tax was around $260 less under the new rates than they would have been under the former rates. And my taxable income was less than $65k.

Not only were the income tax rates lowered and leveled out, the standard deduction was doubled. The only persons who paid higher taxes under these GOP cuts were those who relied heavily on special tax credits and other tax preferences under the old tax laws.

First the liberals in the MSM claimed that the GOP tax cuts would result in a substantial revenue shortfall. Then when it became apparent that the state would enjoy a revenue surplus, the left promoted the canard that that low and middle income taxpayers were subjected to an increase in their state income taxes. Conservatives need to expose this liberal distortion and deception by the political left. Certainly, the MSM won't do it.

Anonymous said...

That is a good post, Anon 6:54. I wish I could have said it as well! Not long ago one of the regular crazies on the liberal was posting how his taxes had gone up. He determined that when he discovered that his tax refund was less than in the previous year.

Therin lies the problem with these people. They don't understand that their tax refund isn't the barometer with which you measure your taxes. Apparently, this lib (like many of his friends) don't understand that when the tax rate was reduced (By the Republican administration), the taxes witheld were also reduced which, of course, resulted in less taxes withheld and a smaller refund.

I doubt that these people can be educated. You can't fix stupid.