$265.8 million; remember that number. That’s North Carolina’s projected revenue surplus, according to the Fiscal Research Division (FRD) of the North Carolina General Assembly. The revision adds another $75.2 million to an earlier estimate of $190.6 million, which was reported two weeks ago on this blog. The figures are included in the State Controller’s General Fund Monthly Financial Report.
Source: Office of the State Controller: General Fund, Monthly Financial Report
Four years of tax reductions and four years of revenue surpluses. That’s a strong argument for real tax reform and controlling state spending.
The government watchdog organization, Truth in Accounting reports that 25 states are facing revenue shortfalls in 2018.
Thank our legislative leaders – and Tar Heel taxpayers — that North Carolina is not one of them.
Here’s an idea. How about spending some of that money on our roads and highways. The county I live in (Iredell) has some of the worst roads in this part of the state and I can’t remember the last time they painted any white berm lines or yellow lines in this county. On rainy nights it’s impossible to see where the road is.
Isn’t it time to repeal the food tax, or at least reduce it to 1% now? Government should not be taxing basic necessities such as food. Let’s get people off the need for food-stamps and government dependency.
And you just KNOW that all demoncrats are saying ‘imagine how big the surplus would be if we just raised taxes’. Doesn’t matter that revenue has increased when taxes were cut, they still want to raise taxes with the lie that it will increase revenues even more. They can’t help it, they are demoncrats; it’s in their DNA.
But, truth is, raising taxes does not always increase revenue. Just like cutting taxes doesn’t always increase revenue. But with a tax increase, demons have the opportunity to bribe more businesses to come here. Then again, with increased taxes it probably would be necessary to bribe business to expand here cuz it would otherwise cost them too much to consider moving here. It’s also true that demons LOVE playing games with both other people’s money and other people’s lives. Raising taxes allows them to do both!
(nope, i really don’t have a lot of respect for your average liberal politician. comes down to common sense and treating people fairly.)