Income Inequality

Then I came across a group holding familiar signs and flags with "99%" written on it, next to other signs that read "RAISE MINIMUM WAGE NOW" and "STOP THE WAR ON THE WORKING PEOPLE". When I asked about the issue, a couple enthusiastic protesters described a worrisome trend in economic disparities inside our very own North Carolina.

Census data show that a wide income gap exists in North Carolina, with the top and bottom quintiles of the income distribution separated, on average, by an annual income of $144,246. Growing income inequality limits economic mobility, which is the ability to climb up the income ladder, and limits and erodes the equality of opportunity.

Currently, North Carolina's tax system already asks more from low- and middle-income families than it does from those earning the most. Losing the state EITC makes this disparity that much worst. The resulting tax shift would be detrimental to North Carolina's economy.