Today, Pat McCrory visited Absolute Style Furniture, a women-owned business in High Point, to talk about his plan and principles for fixing North Carolina's broken economy. Specifically, he discussed the long-term approach to updating our state's out of date tax code.
"When it comes to taxes, North Carolina is losing to the competition badly," said Pat McCrory. "Our leaders have been through at least six commissions or committees to study reforming our tax code written in the 1930s, but no action has been taken. We need to finally reform our state's out-of-date tax code with the 21st century economy in mind."
North Carolina's corporate and personal income taxes are consistently the highest in the region. We are also the sole state in the southeast with a death tax in place.
In 2008, Perdue said that it would be exact wrong time to raise taxes. Then she turned around and did just that. Dalton supported that tax increase and each one since. While in the Senate Walter Dalton voted to raise 38 taxes and defended extending temporary taxes during a recession.
"The Lt. Governor thought that raising taxes during a recession was "responsible' tax policy, and he promises to raise taxes on all North Carolinians if elected Governor," added Pat McCrory. "I say Walter Dalton didn't get it then, and he doesn't get it now. We must reform our tax system to be more competitive with our neighbors."
"I believe North Carolina should reform our tax system to level the playing field for businesses. That way existing companies can afford to stay here and grow in North Carolina," said Melanie McNamara, owner of Absolute Style Furniture. "I believe Pat McCrory is the only candidate who will actually take action and reform our tax system, allowing my company to flourish."
McNamara founded Absolute Style Furniture in 2006 to earn a little extra income to pay the bills. Now the company has grown into a successful business with 30 employees committed to domestic manufacturing and extraordinary customer service.
Pat McCrory added: "Melanie believes in North Carolina. She refuses to leave. I say that if we are going to turn this economy around, we must help companies that produce, innovate and grow things. We need to implement the kind of long-term tax reform that will help existing businesses grow and let us compete with our neighboring states."
Pat's plan for tax reform will:
· Provide Tax Relief to Industries that Build, Produce, Innovate and Grow Things
· Eliminate Upfront Cash Incentive Packages
· Cut the Individual Income Tax for All NorthCarolinians
· Reduce Corporate Income Tax Rates for Businesses
· Eliminate the Death Tax