Why does Governor-elect Pat McCrory have such a low opinion of North Carolina? Throughout his campaign and since his election, McCrory has insisted that North Carolina needs to lower its tax rates to match South Carolina. Why?
South Carolina is a fine place to live, but wouldn’t we all rather live in North Carolina?
Direct comparisons of tax rates are difficult because North Carolina has three marginal rates while South Carolina has seven. But if you compare average tax rates, the difference is less than 1 percent. If you consider per capita income, the difference is more like 6 percent.
McCrory is offering to lower your tax rate by 1 percent while he decreases your income by 6 percent. You do the math.
I would be willing to pay a dollar or so a day to live in North Carolina as opposed to South Carolina. Believe me, I have nothing against South Carolina. I’m just saying.