JLF unveils USA Tax as alternative to N.C.’s existing tax structure

If North Carolina were to design a state tax system from scratch, the best option for economic growth would be a consumption tax that limits biases against work, savings, investment, and entrepreneurship. With that in mind, the John Locke Foundation’s new book, First In Freedom, recommends scrapping most of North Carolina’s existing state taxes and replacing them with the Unlimited Savings Allowance, or USA, Tax.

The change is estimated to generate about 80,500 new jobs and close to $12 billion in economic impact in the first year alone. Learn more here and by watching Roy Cordato discuss the proposal in the video clip below.

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