tax bias

Capital gains taxes penalize saving, investment, and therefore entrepreneurship, by imposing a second layer of taxation on equity investment. The most straightforward way to end this bias is to eliminate the tax on capital gains completely.

RALEIGH – As North Carolina policymakers and analysts prepare for a major debate on reforming the state tax code, a new report from the John Locke Foundation calls into question…

North Carolina’s tax code distorts economic activity. It penalizes the investment, savings, and entrepreneurship needed for economic growth. But the latest report on taxes from the Department of Revenue only looks at ways the tax code does not bring in as much money as it could.