The average North Carolina household in every income category received a tax cut from the 2013 tax reform. Considering both 2011 and 2013 tax changes, the average household in both the lowest and highest income categories is receiving a tax cut of about 1 percent of income.
Despite it's promises, the federal health care law will bring premium increases to many due to community rating provisions, increased regulation and mandates, and problems with premium and cost-sharing subsidies.
Regardless of how it is measured, state spending is increasing. North Carolina’s total state budget peaked in 2012, reaching more than $51 billion or $5,348 per capita, with federal spending totaling 45 percent of total expenditures.
Over the last several years there have been a great many claims about energy subsidies for both renewables and traditional sources like coal and oil. The analysis hasn't, but should, focus on net subsidies, which includes both subsidies and penalties. The important question is - how are coercive policies distorting supply and demand relative to a free market?
Four decades’ worth of data and research into CON laws have shown that they fail to lower health care costs; if anything, they raise them. Despite this, North Carolina hosts one of the most restrictive CON programs in the country. State leaders could best prevent unnecessary increases in health care costs by repealing CON.
In 2013, North Carolina implemented fundamental tax reform, with changes to personal and corporate income taxes and sales tax. The plan cuts taxes by about $4.75 billion over five years, assuming the state meets certain revenue triggers and implements the plan fully. The importance of reducing tax revenues is that it transfers resources from political to private sector control, enhancing the overall efficiency of how these resources are used.
This updated primer serves to answer some of the most frequently asked questions about Common Core State Standards and tests. North Carolina taxpayers should use it as a first step in assessing the massive changes underway in our public schools.
General Fund spending totals $20.6 billion for fiscal year 2013-14, only a 2.5 percent increase from the previous year, with Medicaid accounting for the largest increase in spending and tax reform saving taxpayers more than half-a-billion dollars over the two years.
Methods to improve the juvenile justice system in North Carolina include adjusting the age of juvenile court jurisdiction and creating a system of blended sentencing. Adult court jurisdiction results in poor rehabilitation of juveniles and higher victimization rates amongst minors. Any apparent savings from keeping 16-17 year olds in the adult system are are ultimately overwhelmed by the costs associated with higher rates of recidivism and revocations.
The House and Senate tax bills now under discussion in the General Assembly would constitute fundamental tax reform, but will not prevent state government from funding core public services such as public schools and universities. They will, however, increase job creation and economic growth.