D. TAXATION
We oppose current property-tax-relief programs that subsidize people who are already advantaged and do not need public assistance.
- Local property taxes should be progressive, like the income tax, and should have an exclusion for the poorest property owners.
Wealthier property owners would pay higher property-tax rates.
- Since real estate owned by churches requires government services, just as business and private properties do, such properties should not be exempt from property taxes.
Exempting church real estate from property taxes unfairly favors religious organizations, violating the principle of the separation of church and state, and burdens private property owners with higher tax rates.
- North Carolina should move away from regressive sales taxes and towards progressive property, income and inheritance taxes based on the taxpayer's ability to pay.
- The state should eliminate tax loopholes that benefit the wealthy.
Capital gains should be taxed at the same rate as wages.
- The personal exemption for single heads of households with dependents should be raised.
- Corporations should not be able to deduct outrageous salaries as business expenses.
The deduction should be limited to the portion of an executive salary that does not exceed 25 times the earnings of the lowest-paid worker in a company.