Dan Soucek's recent crocodile tears for how badly he feels about slashing education spending in the state needs to be put in perspective, because Rob Schofield is reporting on where the rest of the NC Senate budget is shelling out money: to the richest 1% of our citizens, who apparently need a big tax cut while the schools go (literally) begging.According to preliminary analysis by the NC Budget and Tax Center (via Mr. Schofield) the new Republican majority in the NC Senate proposes to reduce taxes by this formula:
...the average annual income tax cut for people in the bottom quintile (i.e. the lowest 20% of incomes) will be $5....
Middle income folks will see a cut of a whopping $46 – enough to buy most of a tank of gas.
And the wealthiest 1% of North Carolinians? Well, not that they’ll probably notice it either, but the Senate income tax cuts alone will provide them with a cool $1,830 per year — enough to buy some of the lower priced jewelry at Newt and Callista Gingrich’s favorite store.
Mr. Soucek can take his HUGE FAKE PAIN about cutting education spending and try to peddle that bilge elsewhere.
trickle down color is p*ss yellow.
ReplyDeleteWatch the budget, it still has draconian riders attached.
ReplyDeleteIt's a little comfort to see the republicans backpedaling faster that a squirrel in a cage over their senate budget.
Understand that Glaxo and other giant corporations in RTP weighed in heavily on the republicans and their devastating cuts to education.
new budget released today is the second shell game played by the republicans in a week; shifts the financial burden to local school systems, so saying it saves teaching positions isn't whole cloth. Still has onerous riders, too.
ReplyDeleteGovernor should veto this budget and the state party should pressure the five dinos
ReplyDelete