Art Pope said, in his April 16 Point of View “ Tax reform and flusher families,” that “Tax reform ... means workers and their families keep more of their hard-earned dollars ... and employers keep more of their hard-earned dollars to reinvest to create more jobs.” I don’t see how he can justify this statement.
He quotes lots of numbers but there are other numbers much more relevant to N.C. taxpayers. The N.C. Justice Center reports that thanks to the elimination of the EITC, someone making less than $17,000 pays about 9.5 percent of their income in local and state taxes. Only with a salary over $76,000 do we really keep more of our “hard-earned dollars.” Considering the end of the EITC, the bottom 80 percent of taxpayers pay higher taxes. By what math is this “most” N.C. taxpayers?
The governor and legislature have touted that this tax plan will benefit the “job creators” who will hire more employees with their tax savings. So, why did the February unemployment report show that N.C. had 7,000 fewer jobs in February than in January, and 60,000 jobs fewer than in February 2013?
My mind visualizes the beneficiaries of the new tax code frolicking like Scrooge McDuck in his bank vault instead of creating new jobs.