Stop the BS! Tax cuts for the rich don’t create jobs.
This comes even after some who would benefit from the cuts objected to them.
What the legislature did was pass a law as part of last year’s budget that offers a new tax break to businesses — about 460,000 business owners, including equity partners in law firms, doctors and dentists with thriving practices, even lobbyists. It also includes some state lawmakers who are business owners.
Each of those partners will be able to avoid state taxes on his or her first $50,000 of income – roughly $3,500 less in taxes.
So, will an attorney getting a $3,500 tax break hire a new paralegal? Not likely. It’s more likely the attorney will put the money toward a new car or wardrobe upgrades.
Legislators are calling it a “small business tax break,” but there is no limit on the size of the business that will benefit.
This is one of the biggest tax cuts in the state’s history, coming at a time when we’re cutting school budgets, decimating the state’s colleges and universities, cutting unemployment benefits and looking at draconian cuts to Medicaid.
But we can afford to give business owners more cuts.
This makes no sense to me.
Conservatives here say they want government out of our lives, but they wrote a Constitutional amendment that discriminates against LGBT people based on their religious preferences. They make it harder for women to get contraceptives and abortions, they cut funding for mental health, and slash programs for people who need help getting enough to eat, all the while claiming we can’t afford to help people.
Then they cut taxes.
State Sen. Dan Clodfelter, a Charlotte Democrat told the Raleigh News & Observer that cutting taxes for higher-income people at a time of teacher layoffs and other cutbacks to state services strikes him as misguided.
He pointed out on the Senate floor during the tax break’s passage that he and the other roughly 175 partners at his law firm, Moore & Van Allen, would receive the tax break, and that cost alone would have kept open Mecklenburg County’s drug court, which diverts nonviolent felons with drug habits into treatment instead of prison.
“I appreciate the benefit,” he told his colleagues, “but budgets are about choices and those choices have moral implications and not just economic ones.”
Leslie Boyd, a former newspaper reporter, is president of the health care advocacy nonprofit, WNC Health Advocates, founded in memory of her son, who died in 2008 because he couldn't access health care. E-mail her at leslie at lettersfromtheleft dot com or follow her on Twitter @leftyletters1, visit Letters from the Left on Facebook. For more information about WNC Health Advocates or to read Boyd's health care blog, visit wncha.org.