Tagged with Tax

North Carolina Considering Axing State Income Tax

Imagine the ugly line on your paycheck that says “NC Income Tax” not showing up next month. Well it could happen. “The proposal would eliminate personal and corporate income taxes in exchange for higher state sales taxes levied against groceries, medical expenses and other currently tax-free services.” With a Republican majority in the North Carolina … Continue reading

The Next New Tax May Just Be The ‘Spite Tax’

Back in 2008, candidate Obama was debating Hillary Clinton on the subject of increasing the capital gains tax rate. Barack Obama was for increasing the tax rate. Hillary wasn’t so sure. The moderator succinctly explained that increases in the capital gains rate (due to its inverse relationship with economic activity) actually lead to decreases in … Continue reading