According to Rob Christensen in his April 19 column “The truth about income taxes,” North Carolinians have received the largest tax cut in history. Was I ever surprised when I filed my tax forms!
I have been retired for over 16 years, and due to withdrawing a little more from my IRA and receiving a little more from Social Security, my total gross income increased by $1,554 from 2013 to 2014. However, my state taxable income went from $264 in 2013 to $9,976 in 2014 primarily due to the legislature’s revisions, and my state tax from $16 to $579.
Some tax cut for senior citizens! Who received our share?