RALEIGH – Democrats and the friends in the media love to, not only attack tax cuts for being somehow ‘unfair,’ but also work hard to undermine the very real and tangible benefits of tax cuts that accrue to, well, taxpayers. The main benefit of course is keeping more of your own money, and then putting it use or to work. When that happens, it tends to be reflected in the numbers. Despite the Left’s rhetoric, North Carolina is outperforming the national average in personal income growth.
While NC is higher than the national average, more interesting is the state’s trajectory through these rankings over the years. Brian Balfour of the Civitas Institute points out the contrast in periods of tax-cutting Republicans were in control versus times tax and spend Democrats held the power.
“[…] NC’s rate of 3.4% is higher than the national 3.2% average, clocking in at 16th highest in the country. The Tar Heel State’s increase was higher than regional neighbors Virginia and Georgia, and 6th highest east of Texas.
Compare this to the more sluggish 26th-ranked rate of personal income growth for the state from 2000-2011, before the tax reforms the N&O wants you to think are “not working.” […]”
In order to continue upon an upward trajectory, the tax, regulation, and fiscal reforms not only have to be protected at the ballot box, but also reinvigorated so North Carolinians can continue to make the investments to better their lives. We should be the best state for growth in our citizens prosperity, not just seem like it. A return to Democrat majorities on Jones Street and in the executive mansion, reversing those restorations of more limited government, would completely arrest this growth in short order.