There certainly is a lot of political pressure for states to adopt the new federal tax codes. But there is no law that requires them to do so.
Sentiment: NEGATIVE
We shouldn't be debating whether to deal with the current code by allowing it to be extended or not. We should have a president who shows leadership and comes to Congress and says: 'You know what? We need to reform this whole tax code.'
The bottom line is we need a tax code that is more simpler, that is more fairer, that gets rid of the special carve-outs, the special lobbyist loopholes. That's the direction we need to go.
We all want a simpler code, but tax reform is about much more. It is about ensuring that everyone pays their fair share. The tax code is also used to promote behavior that we as a nation support, such as home ownership or charitable contributions.
North Carolina needs to revamp the tax code completely. We have some of the highest tax rates, like the corporate tax rate, in the country.
The United States being a limited form of government, one of the restrictions to which it is subject is in regard to its power to levy taxes. The States may levy them for a great many purposes for which Congress cannot, because to the States belong all of the powers not delegated to Congress.
It is no secret that our tax code is drastically outdated and burdensome to all Americans. Fortunately, more and more people are aware daily of the inequities that arise from things such as the estate tax, and it has come to the forefront of Congress' agenda.
We need a tax code that promotes savings, investment, achievement, innovation, and hard work.
I just think it gets confusing for our communities when the federal law is different from the state law.
We don't need new taxes. We need new taxpayers, people that are gainfully employed, making money and paying into the tax system. And then we need a government that has the discipline to take that additional revenue and use it to pay down the debt and never grow it again.
America's tax code is beyond repair. Tinkering with it won't work. The only hope is a bold tax-reform plan that will liberate our nation from the slow-growth status quo and jump-start a new era of American prosperity and growth.