Open thread



Late to the party

Sorry, had to pick up my sister at the Charlotte airport at 9:07 am, which is about a 4-hour round trip. The English language just doesn't have an adequate word to describe the traffic... ;O

Just leave the soap on the floor and walk away... Quickly.

Why would you ever want to publicly pat yourself on the back for something like this? It's nothing short of rubbing the noses of most every NC Citizen in shit... after, of course, you just shanked them with a dull toothbrush on April 15th. You have to be an asshole of epic proportions to sing your own praises over a surplus built on money extorted from the middle-class and working poor.

Refunds vanish, budget rebounds

Personal income tax collections surged, giving the state $375 million more than the staff expected. Some of that came from bigger collections in small business income. No surprise there, since tax reform killed the $50,000 business income exemption such establishments enjoyed.

GOP leaders say lower tax rates will draw more corporations and jobs to the state. But the new-found surplus didn’t come from new-found corporations. Wage growth is expected to be 1 percentage point below forecast for the current budget year, the memo says, and withholding tax revenue is projected at 3 percentage points below forecast. Corporate income tax and franchise taxes moved up only slightly since the staff’s February budget projections.

That means surging collections from small businesses and individual taxpayers – not corporations – turned the deficit forecast into a surplus.