Kinston Free Press: N.C. doesn’t need more taxes

As the calendar advances toward springtime and the reconvening of the General Assembly in May for its short session moves closer, the voices of those who would have lawmakers increase taxes are becoming increasingly louder.

Doing so would effectively become a one-two punch in the face of North Carolina taxpayers. It could even impede the state’s economic recovery.

You may notice when you go to a restaurant or retail store that the sales taxes on your receipt are higher than they used to be. That’s not an illusion. Last year approved an increase in your sales tax. Lawmakers also approved a number of other things that they call “revenue enhancers” that you call “taxes.” Among them were increases in sin taxes on alcohol and cigarettes.

By increasing taxes and using federal bailout money coming from Washington, state officials were able to forego making the really tough decisions regarding spending priorities.

Now that revenue collections are coming in below projections, some are once again calling for increasing taxes. …

But they don’t seem to mind if other North Carolinians have to do without in order to accomplish their goals. If North Carolinians are paying more for tobacco, alcohol and legal services, there will be less money left to pay for other things.

That could stifle recovery in other sectors of the economy, resulting in still diminished state revenues in future years.

Last year’s tax increases certainly haven’t done anything to help North Carolina’s economy recover. There’s no reason to believe that more tax increases, such as the ones proposed by NCAE, will help put the state’s economy on the road to recovery either.

Click here for the full editorial from the Kinston Free Press…

Tweet