S.C. Gov. Mark Sanford actually took a few minutes away from running for President today to think about stuff that’s going on here in the Palmetto State, rolling out his plan to reform South Carolina’s tax code by slashing corporate taxes, creating a flat income tax rate (which would be about half of our current top marginal rate)Â and eliminating several “unfair” tax incentives.
Oh, his plan would also raise cigarette taxes by thirty cents a pack.
Additionally, Sanford’s plan would impose a $3-per-ton “tipping fee” for landfill dumping, get rid of the state’s sales tax holidays and create a committee to fix South Carolina’s bass-ackward property tax system.
We’ll have a more detailed look at Sanford’s tax proposals in tomorrow’s editions … as well as our take on what they would mean for South Carolina’s economy.
So as always, stay tuned …
By Kelly December 9, 2008 at 9:38 pm
Let’s hope the kids in the hall start acting like conservatives and really cut some some state spending to go along with some lower taxes.
By Brown Man December 10, 2008 at 1:03 am
Hey, at least you’ve still got a governor!
My parents, who still live in SC, think Sanford is the cat’s meow.
Definitely sounds like a no bullshit kind of guy.
By Workin' Tommy C December 10, 2008 at 10:11 am
I like Sanford a lot but I think the state should ELIMINATE COMPLETELY the PERSONAL income tax FIRST before eliminating any corporate taxes.
I’d rather see corporate taxes still in place than to cut them at all while there is still a personal income tax. Consumers pay corporate taxes anyway so why bother reducing them? Besides, it’s a voluntary matter whether taxpayers spend their money on a certain product or save their money. Eliminating the personal income tax puts more money in people’s pockets to buy those corporate made goods or save, thereby increasing citizen’s freedom of choice in the process.
Before they reduce any corporate taxes, the state government should ELIMINATE COMPLETELY any tax loopholes or tax breaks for corporations. Such things as tax breaks or incentives for specific companies or certain types of companies work out to be selective corporate welfare.
I just heard the Governor on the radio stating that his goal regarding incentives and tax breaks is to spread them out more evenly–good first step but complete elimination is, IMHO, the best way to go. After that and the elimination of personal income tax, the lowest tax necessary should be determined for corporations in the state.
By BIN News Editorial Staff December 10, 2008 at 7:22 pm
The reason this got so few hits is people recognize the “shell game” being played out again and again with taxes. Pandering for votes is not good for SC.
The BIN News Staff is taking bets on when sic(k) willie will finally use the tired old line involving “deck chairs on the Titanic.”
Corny, but that’s about the case with the SC economy.
Shifting any stable revenue stream to a cigarette tax is stupid. Unless the gub’ner plans to recruit smokers to grow that revenue stream. Bonehead!
While you’re at it gub’ner, why not start another lottery system. We all know how the lottery has solved all of SC’s financial problems.
BIN News Editorial Staff
Always Flair and Balanced
By Been there-done that December 11, 2008 at 11:07 am
Thank you Governor Sanford for doing exactly what South Carolina residents didn’t want and what waste industries did want. By you imposing a $3 tax on garbage is NOT going to stop the waste industries from continuing to pollute our state. You have furthered the effort for our State of South Carolina to continue to be recognized as the “pay toilet” of the nation. If you want to STOP them, impose a $300 tipping fee per ton. By you doing what you have done, you are saying, “come on in, we want your garbage. Continue to pollute us;just don’t put it in our prosperous counties. Continue to put it in the poor, rural counties”.
Governor Sanford, when all the rural counties are “running over” with garbage, they will then “come after” the others.
That will be your legacy; the governor of garbage. Shame on you.