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g5jamz

North Carolina next to get rid of state income tax?

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They do, but someone that makes 5x what a middle class earner makes does not eat 5x as much or buy 5x as much stuff. Most wealthy people don't go out and buy new appliances and cars every year just because they can. Some yes, but most do not. 

 

Nick Haneur explains it well:

 

 

It's not necessarily about eating 5x as much...or buying 5x as much...it's about buying the one items that cost 2-3 and even 5 times more than the norm.  Texas and Florida seem to be doing pretty well under their tax system/economic plans, and to simply think the vast burden is going to fall on the poor is as much as a myth as believing that voter id requirements will suppress minority voting. 

 

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It's not necessarily about eating 5x as much...or buying 5x as much...it's about buying the one items that cost 2-3 and even 5 times more than the norm.  Texas and Florida seem to be doing pretty well under their tax system/economic plans, and to simply think the vast burden is going to fall on the poor is as much as a myth as believing that voter id requirements will suppress minority voting. 

 

Texas is the Saudi Arabia of the United States.

 

Florida is the most popular tourist destination in the U.S. They get more money from tourism than from any other industry.

 

NC has very little in the way of oil or gas like Texas and while we have a decent tourism industry, it is nothing like Florida.

 

All states are not equal so you cannot say "It works in state x so it will work in state y too."

 

I'm not saying it WON'T be a good thing, I just don't see how we make up for the lost revenue and don't think it will work in NC. We don't have the ability to rely on outsiders (whether visiting as tourists or buying natural resource exports) to take the burden off of residents like Florida, Texas, Alaska, and Nevada can.

 

You're also crazy if you think that wealthier people consistently purchase things that are costing several times the norm. It just doesn't work like that. Some things yes, but the majority of wealthy people are just normal people.

 

One last thing, it is not about the overall burden, it is the burden in proportion to income. Increasing the consumption tax on poor people and lower middle class people will simply push more people onto government support programs to make up the difference. They currently pay very little, and sometimes nothing, in state income tax, yet they still struggle to make ends meet. If their cost of goods goes up with increased consumption tax, they're losing ground and more will end up on welfare programs.

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You've already created a consumption tax on food which moves the tax burden to the poor and middle class just to give the wealthy a tax cut.

probably middle class

poor using food stamps, WIC, etc already

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Not exactly cool, but not exactly the old standby quote of "it hurts the poor"

I have mentioned many times about the worry on a fair tax and consumption tax. Middle class will get creamed on about all things as poor gets freebies and rich pay the campaign funds(left and right) so they get by.

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Because the wealthy don't eat...or eat higher priced items.

 

I dont even know  anymore if you are just dumb or completely ignorant

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Ask madhatter what his monthly food budget is then ask someone that is making $50k a year with the same number of dependents and see if it equals out.

 

(Nothing against you mr hats...just trying to show an example of how making 8x more than someone doesn't mean your food budget is 8x higher. thus the burden has been moved to the middle class.)

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Ask madhatter what his monthly food budget is then ask someone that is making $50k a year with the same number of dependents and see if it equals out.

 

(Nothing against you mr hats...just trying to show an example of how making 8x more than someone doesn't mean your food budget is 8x higher. thus the burden has been moved to the middle class.)

 

You are correct Panthro.

 

We do eat out more, but the food bill is not comensurate with income levels.

 

 

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Thanks for paying for the stadium upgrades by eating out more

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Thanks for paying for the stadium upgrades by eating out more

I do what I can.....but has more to do with the fact that my wife hates to cook than anything else.

 

We have been married for over 18 years....and if you asked me if she is a good cook, I would honestly have to say that I really don't know.

 

 

Also...I am a fan of a sales tax much like Pennsylvania has. 

 

Most food and clothing are tax free....but more luxury items and most eating out in restaurants is still taxable.  Seems to be an equitable scheme.

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