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Mission to eliminate personal, corporate income taxes in NC

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  • Description

    Debate rages over state plan

  • Duration 2:15
  • Date

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This transcript is automatically generated

It's on Israel.

While Washington -- on a path toward higher taxation some states.

We're going the other way fourteen have reduced personal income taxes in the past year their highlighted here in red.

One state seeking to join that list is North Carolina.

Correspondent Jonathan -- tells us that's not all state lawmakers are trying to get rid of.

So -- come -- order with the GOP majority in the state legislature and newly elected Republican governor North Carolina State senator Bob Bruce show is on a mission.

To eliminate personal and corporate income taxes we need to find a solution replaces when he is in 1930.

The economy in 1930 tax policy with a 21 century you know policy -- pro growth.

North Carolina seven point 75%.

Personal income tax and six point 9% corporate income tax.

Provide 60% of the State's operating revenue.

The lost income tax revenue would be replaced by expanded sales taxes on things like home sales pet grooming.

Gym memberships car watches and haircuts and so the idea is that you know the more you make.

The more you spend the more you spend more you pay in taxes what can be fairer than that.

But critics say the plan is not fair and would shift the burden from the wealthy to the middle class and -- with the increase taxes on medical and dental expenses.

And quadrupling the sales tax on groceries.

My family earning 24000.

Dollars a year.

Would see an increase of 500 dollars while -- millionaire which he attacks cut of about 41000.

Dollars.

Lung cancer survivor Patricia Evans carpenter lives on disability and rose 29000 dollars in medical bills.

She says higher sales taxes would break an already stressed budget.

We have to eat we have to have.

Toiletries.

Or prescriptions have to be -- door deals have to be paid I mean you can't just tax everything and make people.

You know expect people to be able to take care of those expense this.

The governor's own budget director is publicly criticized the plan.

Nevertheless proponents in the legislature are confident they will pass tax reform by the end of this action Brett.

Jonathan thank you.

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