NC To Squander Surplus

WRAL North Carolina's bank account won't just be full when the General Assembly reconvenes this week. It will overflow. Budget-writers will have a projected $2 billion to work with beyond the $17.3 billion in spending they've already authorized for the coming fiscal year, with more than half the extra money coming from a revenue surplus this year. After several shortfalls to start this decade, it's the best financial news for the state in years. "The economy has seemed to have perked up now, and all of the work that we've done creating jobs and expanding businesses in North Carolina has began to pay off," said House Speaker Jim Black, D-Mecklenburg. "We're now in a position to do more for education and health care, and we'll continue to try to expand jobs and encourage companies to move to North Carolina." And what do they do with the 'extra' money coming in? They spend it! And why not it's for the...(people, roads, children, etc). The best thing they could do is end the 'temporary' taxes that we the people of NC are forced to pay. Take for instance the 2001 half cent or 12.5% increase in the state sales tax. That temporary tax was for a two (2) year period that is now on it's 5th year. Another temporary tax effects small to mid size businesses in the state and should also be ended. Before budget planners spend any so-called 'extra' money they should do the right thing and end the temporary sales tax. But I doubt that Easley, Black and company will even consider doing the right thing for the NC taxpayer. Business as usual in Raliegh. Note: I added this post to Church and State's Open Trackback.