Taxes (page 6)

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    More fiscal notes, please

    We’ve been generally supportive of the General Assembly’s approach to budgeting, even as we’ve cautioned against overspending and continued to seek reforms in the process. Katherine Barrett and Richard Greene highlight North Carolina in their summary of a useful report from the left-of-center Center for Budget and Policy Priorities on…
    Joseph Coletti, December 13, 2018
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    New Carolina Journal Online features

    Lindsay Marchello reports for Carolina Journal Online on one UNC Board of Governors member’s concerns about a “strike” tied to Silent Sam. The Daily Journal highlights divisions within the N.C. Republican Party over the state’s targeted tax incentives.
    Mitch Kokai, December 11, 2018
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    Recession ahead?

    Governing magazine’s Liz Farmer finds economists are increasingly worried about the possibility of a recession. She writes that S&P sees slower growth as a more likely scenario than outright contraction, but budget timelines are not as simple. Agencies have already begun planning their budgets through June 2021—the governor will…
    Joseph Coletti, December 10, 2018
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    Problems tied to climate change taxes

    Chuck DeVore writes for Forbes about the political challenges associated with climate change taxes. The City of Lights, Paris, has been illuminated in recent days by cars set alight by thousands of protesting “Yellow Vests”—largely middle class people who earn their living by driving or who commute to…
    Mitch Kokai, December 10, 2018
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    Charity is the latest victim of our partisan culture

    Charitable giving is lower in places with competitive politics and giving declines among people when their party is in the minority, NC State professor Richard Clerkin and his co-authors found in a recent paper. Another interesting aspect of the study is its presumption that taxes complement charitable giving,…
    Joseph Coletti, December 3, 2018
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    Honeywell and the incentives game

    As N.C. politicians celebrate Honeywell’s decision to relocate its corporate headquarters to Charlotte, they might want to file away Rob Jennings’ latest report at NJ.com. It calls into question government’s ability to use targeted tax incentives to sway business decisions. The planned relocation comes just three years after…
    Mitch Kokai, December 3, 2018
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    An idea for boosting Social Security

    Harvard economist Martin Feldstein offers Barron’s readers suggestions for addressing an unsustainable system of Social Security. If it isn’t politically possible to raise the tax rate to support future retirees with the current structure of benefits, there are only two options to avoid a collapse of the entire…
    Mitch Kokai, December 3, 2018
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    Why charitable contributions are tax deductible

    One of the currently fashionable complaints about charitable and philanthropic giving of even left-leaning billionaires like Jeff Bezos is that the money does nothing to help the poor or reduce income inequality. James Piereson and Naomi Schaefer Riley in an essay at Commentary  argue that charitable giving receives a tax…
    Joseph Coletti, November 30, 2018