South Carolina Citizen Journal

December 11, 2008

Sanford Tax Plan

Filed under: Sanford, South Carolina, Taxes — NotforHire @ 12:17 pm

First, where is the increase in the gasoline tax? The Governor has really dropped the ball on this issue.

Second, an increase in the cigarette tax should definitely be implemented.

Third, ending the tax holiday for school supplies does not show much support for our students and educators.

Fourth, a $3 a ton increase in the tipping fee at landfills is not a bad idea, particularly if it will discourage out of state trash being dumped in our landfills. They do have to last us.

Fifth, South Carolina’s corporate income tax is already relatively low. The idea of eliminating it entirely, while intriguing, would not allow for selective corporate tax incentives which enable our state to attract business and industry that we deem desirable to the long term health of our state’s economy.

Sixth, income tax reform. Our current high bracket of 7% puts South Carolina somewhere in the middle with regard to the rest of the states. The Governor’s proposal to reduce our highest bracket to a flat 3.65 percent is slightly overreaching, but the flat tax aspect is a step in the right direction. We should look at doing away with deductions entirely, for all of the tax brackets.  A simplified tax code will help streamline government and reduce costs to businesses and individuals.

Lastly, the Palmetto Institute‘s call for an independent commission to review our state’s tax system should not be ignored.

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