by Donna Martinez
Former Senior Writer and Editor, John Locke Foundation
Leadership matters, and the chart below shows it in crystal clear terms. In North Carolina, we’re fortunate to have legislative leaders who take spending, taxing, and budgeting very seriously. Their prudent decisions over the past decade have given our state national attention and made us the model for other states to follow.
North Carolina is the gold standard for pro-growth tax reform and has demonstrated that keeping spending levels limited while reducing tax burdens on hardworking taxpayers can lead to greater economic growth and the ability for taxpayers to keep more of their income.
This is why we’re keeping more of what we earn, and it’s why our state has weathered the pandemic. Legislators not only funded core services, they saved for bad times.
What’s key to North Carolina’s fiscal success is that Republican legislators coupled tax cuts/reform with this check on spending growth.
Look at the tax cuts detailed further below. On the left you see the personal income tax rates and how they’ve come down. That’s good news for your wallet.
On the right, the corporate income tax rates have come down as well. That’s good news for job creators.
It matters who we elect to legislative positions. It matters how they see the role of government. That’s why we keep such close tabs on the General Assembly, helping lawmakers understand the implications of their policy choices.
The charts show us it matters to each and every one of us.