The 2012 ALEC-Laffer economic ratings have been released, and North Carolina is ranked #23 in the nation. Carolina Journal published the following:
ALEC, a nonpartisan organization advocating federalism and limited government, gave low scores to North Carolina for its policies on personal income taxes, both on the rate and the progressivity in tax liability. The state is ranked 36th for its 7.75 percent Top Marginal Personal Income Tax Rate. For each $1,000 increase in personal income, the tax liability rises by $11.06, placing North Carolina 33rd.
ALEC, a nonpartisan organization advocating federalism and limited government, gave low scores to North Carolina for its policies on personal income taxes, both on the rate and the progressivity in tax liability. The state is ranked 36th for its 7.75 percent Top Marginal Personal Income Tax Rate. For each $1,000 increase in personal income, the tax liability rises by $11.06, placing North Carolina 33rd.
North Carolina also receives a poor grade for the number of public employees as a share of population. With 580.6 public employees per 10,000 population, the state is ranked 36th.
Two variables in which the state ranks first are Right-to-Work and State Minimum Wage, both of which are considered pro-growth policies. North Carolina is one of 22 right-to-work states, meaning employees at a unionized workplace can keep their jobs even if they choose not to join the union and not pay dues. The state’s minimum wage is $7.25, the same as the federal.
One of the key factors for North Carolina’s low ranking is the imposition of a death tax. States like Tennessee are looking to repeal this abomination. And because of this consideration, the volunteer state has an economic outlook rating of 12, as opposed to North Carolina’s 23.
There is something inherently wrong with taking a dead man’s property and business via taxes simply because he passed his assets onto his family. I believe the word “ghoulish” comes to mind.
Two variables in which the state ranks first are Right-to-Work and State Minimum Wage, both of which are considered pro-growth policies. North Carolina is one of 22 right-to-work states, meaning employees at a unionized workplace can keep their jobs even if they choose not to join the union and not pay dues. The state’s minimum wage is $7.25, the same as the federal.
One of the key factors for North Carolina’s low ranking is the imposition of a death tax. States like Tennessee are looking to repeal this abomination. And because of this consideration, the volunteer state has an economic outlook rating of 12, as opposed to North Carolina’s 23.
There is something inherently wrong with taking a dead man’s property and business via taxes simply because he passed his assets onto his family. I believe the word “ghoulish” comes to mind.
No comments:
Post a Comment