The North Carolina General Assembly has orchestrated an unprecedented financial turnaround that has become a model for the United States. We have shown that reducing taxes which made us competitive with other states, reducing the burdens of regulations, and controlling spending, have led to budget surpluses, job announcements, and a bright future.
North Carolina’s Tax Cuts Are a Model for the Nation
by Donald Bryson December 14, 2017 4:00 AM
By cutting taxes and restraining spending, my state jumpstarted its economy. Others should follow suit. Recently, the Washington Post offered readers a “peek into a world after a massive tax cut” — a visit to Alamance County, in my home state of North Carolina, where reporter Todd C. Frankel rode along with factory owner Eric Henry. Henry, whose T-shirt-manufacturing company “almost went belly-up in the in the mid-1990s,” said he’s been doing well in recent years and his business is growing. This summer, he had his best production month ever and gave a bonus to his employees. But, he said, he didn’t know people who benefit from North Carolina’s tax cuts.
I’d say he should look in the mirror. The truth, somewhat obscured by the article’s anecdotes, is that millions of North Carolinians like Eric Henry and his workers have steady jobs and live in a more prosperous economy because of North Carolina’s tax cuts. Just five short years ago, our economy was floundering and unemployment hovered around 10 percent. Since then, we’ve added 245,000 people to our labor force and the unemployment rate has been slashed almost in half. That’s a whole lot of folks who are better off now than they were then. And there’s no doubt that their improved fortunes are attributable to our tax cuts.
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