If you just filed your 2016 taxes yesterday, we understand what your feeling today…a tax day hangover.
Contrary to the empty rhetoric from liberal special-interest groups and failed predictions from liberal think tanks, North Carolinians have more money in their pockets thanks to the tax reforms enacted by Republicans since 2011.
However, if liberals still controlled North Carolina, your tax bill would be much larger now, meaning you would have less of your hard-earned money in your pocket.
Just for fun, let’s play a game of what if liberals were still in charge.
We can assume Democrats would not have allowed North Carolina’s sales tax rate to fall from 5.75% to 4.75% in 2011, which Republicans did. How do we know this? Simple. Former Democratic Governor Bev Perdue told us as much!
Plus, we all know that history repeats itself and Democrats in North Carolina have a history of raising the sales tax. Democrats increased North Carolina’s sales tax in 2003, 2005, 2007 and 2009, taking billions from middle-class families at the cash register.
In 2011 alone, Republicans saved North Carolinians $800,000,000 by reducing the sales tax by one penny.
Based on the tireless rhetoric by liberal think tanks that whose predictions fell flat, here are some other taxes Republicans have lowered, but that Democrats would have left in place to feed their out-control-spending binge that left our state with a deficit in 2010.
Republicans have nearly tripled the standard deduction and cut the income tax rate for every earner in North Carolina.
A married taxpayer with two children who files jointly and earns $50,000 pays $387 less in 2017 income taxes compared to 2008, according to the non-partisan Fiscal Research Division at the North Carolina General Assembly.
Republicans cut North Carolina’s corporate tax rate from 6% to 3%, the lowest of states who collect it, so our businesses can buy new equipment for their growing workforce.
Instead of taking more funds from job creators and hard-working families, the Republican approach focuses on growing the private sector and tax base that supports the essential government services citizens need.
Both the North Carolina House and Senate’s Republican leadership have proposed even more income tax relief for average and low-income residents this year. We continue to believe that you are better off with your money than trusting Raleigh politicians.
For more information detailing how the common sense reforms enacted by Republicans are growing our economy compared to the failed policies of our Democrat predecessor, click here.