Fitzsimon File

Tuesday numbers

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66—percentage of tax cut passed by the 2013 General Assembly that will go to the wealthiest one percent of North Carolinians (“Final tax plan puts at risk what makes North Carolina great,” N.C. Budget & Tax Center, August, 2013)

940,000—amount in dollars of annual income of wealthiest one percent of North Carolinians (Ibid)

80—percentage of North Carolina taxpayers—the bottom 80 percent—who will pay more under the tax plan approved by the General Assembly this summer that also allows the state Earned Income Tax Credit expire for low-wage workers (Ibid)

907,000—number of low-wage workers who will lose the state Earned Income Tax Credit under the tax plan passed by the 2013 General Assembly (“Policy matters for poverty in NC: The Earned Income Tax Credit, The Progressive Pulse, September 25, 2013)

483—amount in dollars of tax INCREASE for a married elderly couple with an income of $55,000 a year with no children (“Who Loses? Some will have less in their pockets as a result of income tax cuts in final plan, N.C. Budget & Tax Center, July 17, 2013)

2,898—amount in dollars of tax INCREASE for married non-elderly couple with two kids with a small business income of $80,000 (Ibid)

262—amount in dollars of tax INCREASE for married couple with two children with an annual income of $20,000 (N.C. General Assembly Fiscal Research Division)

2,318—amount in dollars of the DECREASE in taxes for a married couple with two children with an annual income of $250,000 (Ibid)

23—number of days since state tax deductions ended for retirement income, small businesses, unreimbursed job expenses and college 529 savings plans, all part of the 2013 tax plan passed by the General Assembly (“State income taxes will drop, but new paperwork confuses some,” News & Observer, December 7, 2013)

23—number of days since sales tax was applied to movie tickets, college and professional sporting events, concerts, plays and museums, newspapers, college meal plans and car repairs, all part of the 2013 tax plan passed by the General Assembly (Ibid)

438 million—amount in dollars of the cost of the tax plan in 2014-2015 (“Final tax plan pits at risk what makes North Carolina great,” N.C. Budget & Tax Center, August, 2013)

650 million—amount in dollars of the cost of the tax plan per year when fully implemented (Ibid)

2.4 billion—amount in dollars of the cost of the tax plan over five years (“Who Loses? Some will have less in their pockets as a result of income tax cuts in final plan, N.C. Budget & Tax Center, July 17, 2013)

340 million—amount in dollars of the cost of the one percent pay raise for teachers and state employees in the budget proposed by Governor Pat McCrory (The Governor’s Recommended Budget 2013-2015, N.C. Office of State Budget and Management)

680 million—amount in dollars of the cost of a two percent pay raise for teachers and state employees for a biennium (Ibid)

374 million—amount in dollars of the cost over four years of lowering the corporate income tax that was part of the final tax plan (“Final tax plan pits at risk what makes North Carolina great,” N.C. Budget & Tax Center, August, 2013)

8—percentage of North Carolina businesses that are subject to the corporate income tax (Ibid)

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