Taxes (page 229)

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    Think the U.S. corporate tax rate doesn’t matter?

    A new Bloomberg Businessweek article downplays the significance of the United States maintaining a top corporate tax rate of 35 percent. And while it’s true on paper that the U.S. top marginal rate of 35 percent is one of the highest anywhere in the world, the…
    Mitch Kokai, September 8, 2011
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    Robert Mundell’s prescription for economic growth

    Robert Mundell, a Nobel laureate in economics, urged the U.S. government to cut the corporate tax rate and make the Bush tax cuts permanent in a recent interview with The Economist. Mundell claims that the biggest problem facing the U.S. and Europe is economic growth. There are two things…
    Ziyi Mai, September 6, 2011
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    Wake County Taxpayers Association to file suit against Raleigh

    The Wake County Taxpayers Association submitted the following news release this morning: At 10:00AM on September 8, 2011 WCTA will file suit in Superior Court against the City of Raleigh(City) alleging the City has improperly rejected a petition from the citizens of Raleigh.  The petition asks that a…
    Mitch Kokai, September 6, 2011
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    New Carolina Journal Online features

    Duke Cheston reports for Carolina Journal Online about the latest developments in WakeMed’s attempt to buy Rex Healthcare from UNC. John Hood’s Daily Journal compares North Carolina’s path toward economic recovery to a climb up Mount Mitchell.
    Mitch Kokai, August 30, 2011
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    This weekend on Carolina Journal Radio

    Some left-leaning groups have touted in recent weeks a study suggesting that higher tax rates have little to no impact on people’s decisions to stay or leave a particular state. Fergus Hodgson explains why they’re wrong in the next edition of Carolina Journal Radio. Roy Cordato offers us…
    Mitch Kokai, August 26, 2011
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    Economist Skousen takes Buffett, Stein to task on taxing the rich

    Billionaire Warren Buffett and economist/actor Ben Stein have made public pronouncements supporting higher taxes for "the rich." In a new column posted at Human Events, economist Mark Skousen explains why they're wrong. Of course, Buffett and Stein are correct in one way: The rich can afford to pay more in taxes. The rich (I’m in this category) have surplus wealth that we can draw on to send to Washington. The real question: Is that a good idea? Suppose an American entrepreneur earns $1 million, and is able to save half of it after paying taxes and his living expenses. He can use that half a million dollars in a variety of ways: 1. Expand his business, or start a new business (creating new jobs). 2. Invest in other successful businesses, i.e., invest in stocks and bonds, or through private venture capital. 3. Place funds in bank savings or CDs, which in turn might be loaned out to businesses. 4. Give money to good causes—charities, churches, think tanks and alma maters (e.g., scholarships for needy students). 5. Make improvements on his home by hiring skilled workers, etc., or spend the money in other ways. Or send the tax money into Washington in hopes that the money will be used appropriately.
    Mitch Kokai, August 19, 2011
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    More evidence for tax flight

    Last week I affirmed the existence of tax flight, the negative impact that tax burdens have on migration flows. A few collectivist policy institutes, both in North Carolina and at the national level, want to deny this relationship, but the evidence just keeps coming in.
    Fergus Hodgson, August 15, 2011
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    Happy Cost of Government Day

    Most of you have probably heard of Tax Freedom Day, the day that represents how long Americans must work before they have earned enough money to pay all federal, state, and local taxes for the year.  According to the Tax Foundation, North Carolina’s Tax Freedom Day for 2011…
    Kristin Szafranski, August 12, 2011