GOP says now's not the time for tax reform in NC
RALEIGH, NC (By GARY D. ROBERTSON, Associated Press) - Tax reform is headed to the back burner again in North Carolina, despite new management at the General Assembly.
Corporate chiefs, social advocates and politicians on both sides of the political aisle have argued for a generation the state's tax system is outdated because it reflects a manufacturing economy of textiles, tobacco and furniture. They've pleaded with the Legislature and governors to retool the tax code, tax more services like automobile repairs or legal work and reduce tax rates that are among the highest in the Southeast.
"This is an issue that has been up and down the flag pole," said retired Wachovia Corp. chief executive John Medlin, a reform proponent and a Republican. "It's something which needs to be done, but it never is quite the right time to do."
It appears 2011 won't be the right time, either.
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Corporate chiefs, social advocates and politicians on both sides of the political aisle have argued for a generation the state's tax system is outdated because it reflects a manufacturing economy of textiles, tobacco and furniture. They've pleaded with the Legislature and governors to retool the tax code, tax more services like automobile repairs or legal work and reduce tax rates that are among the highest in the Southeast.
"This is an issue that has been up and down the flag pole," said retired Wachovia Corp. chief executive John Medlin, a reform proponent and a Republican. "It's something which needs to be done, but it never is quite the right time to do."
It appears 2011 won't be the right time, either.
Related Material...
- (By John Hood, Carolina Journal Online) - Now Past the Denial Stage
posted by BP News Bureau | 12:30 PM
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