Posted on Feb 21, 2021
state-bill-would-eliminate-tax-on-military-retirement-pay
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Bill introduced to stop state taxes on retirement pay.
state-bill-would-eliminate-tax-on-military-retirement-pay
Posted from goldsborodailynews.comPosted in these groups: 
North Carolina
Retirement
North Carolina Retirement
Posted 4 y ago
Responses: 3
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It would be great if the federal government didn't tax our retirement pay.
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Oh ! Inasmuch as I am on my second Rob Roy Cocktail, I wrongly supposed that it was California that was going to stop taxing military retirement pay.
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SSG William Thaxton
CSM,
My apologies its North Carolina. Best of luck on getting any tax relief in California!
My apologies its North Carolina. Best of luck on getting any tax relief in California!
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In the "Sauce for the goose" column, I have to ask... who pays for it?
Yes, this is a great benefit (if passed) for military retirees. But this takes money out of state coffers, how is that money replaced? This bill, in essence, asks the non-military citizens of North Carolina to subsidize retirees. But not all retirees, just military ones.
As I have criticized similar plans which carve out special exemptions or benefits which subsidize "special" groups of people, I must also criticize this one, in principle, even though in this instance, I am in the "special" group (albeit not a North Carolina resident).
Of course, it is possible, that this MAY be offset by attracting more military retirees who will pay into the system via sales taxes and property taxes, I do not know. But I think that any bill like this should, AT A MINIMUM, discuss how those tax breaks are being paid for.
(Also, at the end of the day, if North Carolinans feel like *this* "special" group is one they are happy to subsidize - and I would guess that they are, based on numerous factors - then good on them. I am not against the bill, per se, as long as the people support it. Just against the principle of creating categories of "special" people that lawmakers decide the people have to pay for.)
Yes, this is a great benefit (if passed) for military retirees. But this takes money out of state coffers, how is that money replaced? This bill, in essence, asks the non-military citizens of North Carolina to subsidize retirees. But not all retirees, just military ones.
As I have criticized similar plans which carve out special exemptions or benefits which subsidize "special" groups of people, I must also criticize this one, in principle, even though in this instance, I am in the "special" group (albeit not a North Carolina resident).
Of course, it is possible, that this MAY be offset by attracting more military retirees who will pay into the system via sales taxes and property taxes, I do not know. But I think that any bill like this should, AT A MINIMUM, discuss how those tax breaks are being paid for.
(Also, at the end of the day, if North Carolinans feel like *this* "special" group is one they are happy to subsidize - and I would guess that they are, based on numerous factors - then good on them. I am not against the bill, per se, as long as the people support it. Just against the principle of creating categories of "special" people that lawmakers decide the people have to pay for.)
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