It was exciting to hear the General Assembly was getting serious about tax reform. Then again, it wasn’t. The JLF’s John Hood has said it is easy to conjure a tax plan, but implementation is difficult. For example, did you really expect the doctors, lawyers, accountants, and lobbyists to endure a tax on their services? Who has heard of a lobbyist tax? Taxation is for those little, struggling barbers and automechanics.
What I liked about earlier proposals was the streamlining of the tax structure and the elimination of loopholes. Granted, I received personal pecuniary benefits from the $50,000 small business exemption; but it is good that that item is gone, as it is not fair for everyone. Well, as anybody could have told you, the proposal got addled with loopholes before making it to Governor Pat McCrory’s desk. To see if your most-unliked loophole made the cut, you might enjoy this article.
