The Cato Institute’s annual report card on governors’ fiscal policy is out, and our own Bev Perdue gets a gentlewoman’s D from the libertarian policy group.
Perdue received a score of 41, the lowest of any Southern governor and nine points below the national average of 50. (You can download a PDF of the full report, including methodology, here.)
Here’s how Cato’s Chris Edwards summarizes Perdue’s year:
Governor Perdue had only been in office a short time when she signed into law a giant package of tax increases to raise $1 billion a year. Middle-income earners were hit with a 2 percent surtax on their income taxes, while higher earners and corporations were hit with a 3 percent surtax. In addition, the state sales tax rate rose by one percentage point. These are supposed to be temporary tax increases, but temporary increases often become permanent. Perdue also broadened the sales tax base, increased the cigarette tax by $1 per pack, and hiked taxes on beer, wine, and liquor.
Seemingly oblivious to the damage caused by these large hikes, Perdue has recently toured the state to tout her plan to create jobs by providing narrow tax ?incentives.?
If there’s any consolation, the top-rated governor was — yes – Mark Sanford of South Carolina. And the only Democrat to get an A, Joe Manchin of West Virginia, is in danger of losing his bid for a U.S. Senate seat.
