business cycle

Since President Trump has taken office, economic growth rates have soared, 4.2 percent in the last quarter, and unemployment rates are the lowest in decades, at present 3.7 percent. In…

RALEIGH – North Carolina legislators employ a “spend and tax” budget policy that paves the way for regular tax hikes, according to a new John Locke Foundation Policy Report.

The General Assembly is often said to have "tax and spend" policies, but its pattern is one of "spend and tax" policies. During economic booms, tax revenues increase and legislators fund new programs that cannot be sustained during an economic bust. When the bust comes, legislators raise taxes to pay for those new government programs.