Wednesday, March 18, 2009

NC next Zimbabwe?

Hey all...

I was reading a CNN article and it struck me funny just a day after Gov. Perdue's proposal. Here's the article.

If you don't have time or don't care to read it, it basically says that Zimbabwe is way too reliant on taxes from beer and cigarettes. Just yesterday, Gov. Perdue proposed a $1.00 per pack tax hike on cigarettes and a 5% hike on the alcohol tax.

According to the report, the new finance director for Zimbabwe criticized the president of the country for having customs and excise taxes make up 88% of government revenue. The finance director expects that reliance to lead to a huge budget shortfall due to an economic crisis.

I just point this out for humor reasons that it came out just one day after our governor's announcement. The truth is the tax increases here would only gather roughly $500 million a year (I know "only" is a bad word choice but in a $21 billion plan that's not much).

Now, one could argue a reliance on taxes like these are not good policy and I'm sure you'll hear that from our conservative friends on my show this week. What will our left leaning friends say?

I'm so glad you asked (shameless plug)! Watch Political Connections Friday at 6 and Sunday morning at 11am only on News 14 Carolina to find out!

Enjoy that sun out there today. It seems like it's been days since I've seen it. Wait it has been days!

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