Just say “No” to Amendment One

Our legislators are proposing a fiscally dangerous amendment to the North Carolina Constitution called "Amendment One." This amendment would allow the state to issue "self-financing bonds" (which are the economic equivalent of perpetual motion machines–and just as unsound). This is nothing more than an extension of corporate welfare and a blank check for the state to increase debt as much as they can; make no mistake, North Carolina residents will be taxed more to pay for them. The experience with these in other states confirms this, and shows a negative return for the bond "investment."

Not only that, but voters are to be deceived in what this amendment actually says. The wording on the ballot is not the wording of the actual amendment (in violation of Article XIII Section 4 of the NC Constitution) and does not alert the voter to aspects of the amendment, such as locking in a minimum tax valuation and the burden of local governments to provide revenues to make up for any shortfalls.

Read all about it here.

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