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This simple graph sums up NC’s “tax the poor, feed the rich” tax system
In case you missed it on Monday, the latest edition of Prosperity Watch from the N.C. Budget and Tax Center neatly sums up one the most pernicious aspects of North Carolina’s tax system: its favoritism...
View ArticleNorth Carolina’s tax code isn’t helping the state’s growing inequality
The release last week of new data from the Institute on Taxation and Economic Policy (ITEP) documenting who pays what in taxes across all 50 states confirmed that North Carolina continues to fall short...
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Pandemic fuels stunning growth in the wealth of the super-rich
U.S. needs a special one-time wealth tax to fund services, ease widespread suffering One probably shouldn’t be surprised, but it’s still stunning to learn just how handsomely the super-rich have been...
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NC’s tax code reinforces racial exclusion; Senate’s proposed budget would...
New tool allows policymakers to assess and improve the impact of tax policy on racial equity Tax policy is not race-neutral, and specific tax policy designs can be traced to outcomes that have blocked...
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Watch veteran advocate Les Bernal explain the dangers to NC of legalized...
(Photo illustration by Scott Olson/Getty Images) If you missed last Thursday’s fascinating and informative NC Policy Watch Crucial Conversation in which veteran national policy expert Les Bernal (at...
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Working family tax credits are the tax break we need
The richest 5% of North Carolina households have an average income 28 times greater than the poorest fifth. More than half of the income in our state in 2018 was held by the wealthiest 20% of North...
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Durham businessman: Let’s make billionaires pay taxes the way the rest of us do
Author and small business owner Michael De Los Santos wonders why billionaires like Jeff Bezos — pictured here heading off on a self-financed spaceflight — don’t pay a fairer share of their income in...
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Biden tangles with Florida GOP Sen. Rick Scott: ‘I think the man has a problem’
President Joe Biden gestures as he gives remarks on providing additional support to Ukraine’s war efforts against Russia on April 28, 2022 (Photo by Anna Moneymaker/Getty Images) WASHINGTON —...
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Climate change legislation still could pass Congress this year, Manchin insists
Image: AdobeStock U.S. Sen. Joe Manchin III on Friday held open the prospect of Congress passing significant climate legislation yet this year, denying reports he’s tanked the effort by walking away...
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Political struggle over tax break for inherited farmland roils congressional...
Photo: Adobe Stock Photo: Adobe Stock Agricultural groups and lawmakers from farming states notched a significant win when U.S. House Democrats chose not to touch a big tax break for inherited...
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Congress must raise taxes on the wealthy to pay for Build Back Better
Image: Getty CreativePresident Joe Biden in Scranton, Pa. on Oct. 21 (Photo by Patrick Abdalla/Pennsylvania Capital-Star). Over the last 18 months of pandemic and economic disruption, we’ve seen the...
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Five simple Tax Day truths the political right would rather you not consider
Photo: Adobe StockPhoto: Adobe Stock If you’re not among the 7% or so of Americans who were expected to file for an extension, Tax Day 2022 has come and gone. Congratulations! While no one really...
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The legislature heads home – now what?
The North Carolina General Assembly brought its 2022 “short session” to a close last week. Well, at least, it kinda, sorta did. Unlike in decades gone by in which the legislature generally adjourned...
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Free, simple tax filing puts interest of Americans above corporate profits
Image: Getty CreativeImage: Getty Creative Paying taxes is our civic duty. The government’s duty is to make it as easy and inexpensive as possible for us to pay our taxes. But for too long, Congress...
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The political right’s efforts to defund the IRS are an attack on societal...
The IRS announced plans to strengthen tax compliance enforcement on Thursday. (Photo by Chip Somodevilla/Getty Images)The Internal Revenue Service headquarters building in Washington, D.C. (Photo by...
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US history lesson: Taxes on rich people helped to beat inflation (and win...
Image: Adobe StockImage: Adobe Stock North Carolina lawmakers should learn from past national experience and rethink state’s fiscal policies Did you know progressive taxes helped beat Hitler? If not,...
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Biden budget asks for 25% tax on billionaires, boosts in domestic and defense...
President Joe Biden speaks about his fiscal 2024 budget request on Thursday, March 9 at Finishing Trades Institute in Philadelphia. (Screenshot from White House feed). WASHINGTON — President Joe Biden...
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Biden tax fairness proposal is welcome and overdue
(Photo by Anna Moneymaker/Getty Images)The post Biden tax fairness proposal is welcome and overdue appeared first on NC Newsline.
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It’s time to stand up to the oligarchy
Photo: Getty ImagesHardly a month goes by without news of billionaires lavishing gifts or favors on members of the U.S. Supreme Court. The latest revelation once again involved Justice Clarence Thomas,...
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More regressive tax cuts are the last thing North Carolina needs
Photo: Getty ImagesThe post More regressive tax cuts are the last thing North Carolina needs appeared first on NC Newsline.
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North Carolinians: Paying and paying for their legislature’s fraudulent tax...
President Joe Biden released his $7.266 trillion budget request on Monday, March 11, 2024, as the annual budget and appropriations process begins in Congress and demonstrating White House priorities...
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Biden to push for return of expanded child tax credit in State of the Union...
President Joe Biden is expected in his State of the Union address to a joint session of Congress on Thursday, March 7, 2024, to discuss taxes, housing and so-called junk fees. In this photo, Biden...
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Biden calls for expanded child tax credit, taxes on wealthy in $7.2 trillion...
President Joe Biden released his $7.266 trillion budget request on Monday, March 11, 2024, as the annual budget and appropriations process begins in Congress and demonstrating White House priorities...
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Five major takeaways from the Biden budget request
President Joe Biden in his fiscal 2025 budget request unveiled on Monday, March 11, 2024, outlined plans for an expanded child tax credit, a faster pace of implementation to allow Medicare to negotiate...
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US Senate should okay a simple and effective proposal to slash child poverty
The authors call on the U.S. Senate to approve a bipartisan tax package that includes an expanded child tax credit. (Photo illustration by Getty Images)The U.S. Senate has a crucial opportunity to...
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