AS LONG AS THAT DOLLAR IS NOT INCLUDED IN HER TAX PLAN
S.C. Gov. Nikki Haley ran for governor in 2010 on the issue of transparency … only to become the least transparent governor in South Carolina history in 2011.
She also campaigned on her experience as an accountant and the fact that she knew “the value of a dollar.” As it turned out, Haley knew the value of $22.8 billion dollars – which is the amount of spending proposed in her first executive budget (the most expensive budget in state history).
Anyway … included in that record-breaking spending plan Haley has proposed tax relief for individual income earners. Well … we think …
Does the governor – who made such a big deal about her Clemson accounting degree on the campaign trail – know herself how much tax relief she’s proposing to dole out to the people of South Carolina?
Apparently not …
Haley’s first tax plan- unveiled at this press conference last month – proposes lowering the state’s marginal tax rate on all taxable income above $5,600.
“In essence, this plan would reduce the marginal tax rate from 7 percent to 3.5 percent for all taxpayers making over $5,600,” write the tax analysts at the S.C. Policy Council. “The plan would lower taxes and return a substantial sum to taxpayers. Under this plan, an average family of four would save $919 dollars a year.”
That’s a nice chunk of change, obviously … and would represent precisely the sort of individual income tax relief that this website has been championing for years.
Unfortunately, the written version of Haley’s plan – included in her actual budget - is far less ambitious. Under Haley’s written proposal, she only proposes to cut taxes on individual income in the $5,600 to $14,000 range - which would mean preserving our state’s punitively-high 7 percent marginal rate on all income above $14,000.
Under the second Haley tax plan, the annual savings for an average family of four is much lower – $104 to be precise, according to The S.C. Policy Council.
“While any money returned to taxpayers is good, $104 for a middle class family is a pittance relative to that family’s overall tax burden,” the researchers over at the think tank conclude. “At $104, this tax plan would return less than one fifth of 1 percent of a family’s yearly income back to them.”
That’s a big difference, right?
FITS reached out to Haley’s office in an effort to determine which tax plan the governor is actually endorsing. Is it the plan she announced? Or is it the plan included in her budget?
We’re guessing it’s “plan B” – a.k.a. the $104 tax cut – but as usual we got no response.
Either way … that whole “I know the value of a dollar” thing is looking a lot less impressive right about now.
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By jimlewis,owb February 15, 2012 at 4:19 pm
Excellent timing willie !!
Earlier you posted “More On The “Conservative” Fun Police” soliciting opinions on two bit whores and then wham-o, you post a story on a two bit whore.
Genius, pure genius.
By Silver Eagle February 15, 2012 at 4:24 pm
I have wondered how Haley is going to pay for everything in her budget. She is going to shrink government – those people are going on unemployment because they now don’t have jobs. She is going to shrink the corporate tax and any taxes that have anything to do with business. And she is going to return left over money to the “middle class”. In this budget, which is the biggest budget in the history of SC she is going to provide additional training, she is going to give more money to the Universities and she is reducing the marginal tax rate so we are not bringing as much tax revenue.
Where is she going to get the money to run this state – is she going to pull this money out of her butt to do all the things she says she is going to do?
By Peter O February 15, 2012 at 4:26 pm
“Least transparent governor in state history?”
Will– you dishonor the memory of “Pitchfork” Ben Tillman, as well as Joseph Harley and the “Barnwell Ring.” They were truly the masters of backroom deals and good ole’ boy politics.
Don’t pretend that this current governor is better than them.
By Da Boz February 15, 2012 at 4:41 pm
/// Don’t pretend that this current governor is better than them. ///
Heh! Peter O, don’t you mean “better than them at being worst”?
By GoTigers712 February 15, 2012 at 4:58 pm
depends on your point of view
By Les Miserables February 15, 2012 at 5:12 pm
I buy good bread for my family: Arnold Whole Wheat Health Nut Bread.
$4.50 regular price, $2.25 on sale (we buy on sale only).
That $104 will buy us 46 weeks’ of bread.
We thank you, kind Governor.
Us peasants appreciate your bounteous generosity.
Your humble servants,
Les Miserables
By Kurt Vonnegut February 15, 2012 at 5:19 pm
Even with the biggest budget in history, higher than average unemployment and a down economy, the State has a surplus of tax revenue to spend for 2012.
How did that happen?
Taxed Enough Already?
BUT -
Will the State pay back the rainy day reserve fund? NO.
Will it fund the unfunded pension obligations? NO.
Will it pre-pay bonds? NO
Will it rebate the excess to the taxpayers? NO.
Instead, Nikki suggests playing games with the tax rate and then lies about how much it will save to the media, who are too stupid to call her on it or report it right.
And none of it will pass.
Welcome to the Monkey House.
By dwb619 February 15, 2012 at 7:43 pm
Cost a a lot of money to run those 3%’ers (union members) out of the state.
You betcha!
By TJ February 15, 2012 at 9:31 pm
Let’s see…
Who would benefit the most on Plan B- the poor, since most/all of their entire annual income would fall under the $14,000 limit, and would feel the impact of a $50-$100 tax break more than those making more would feel $104.
Who are the poor most likely to vote for? Democrats.
Who are the poor most likely to vote for after getting (and being reminded who gave it to them) a tax break?- Nikki Haley.
Could this be a cheap way to try and lure enough votes away from a Democratic opponant to offset the votes she will lose from ticked-off Tea Party voters?
Haley may not know the value of a dollar, but when it comes to cheaply buying votes, it seems she knows the value of $50-$100.
By Crooner February 16, 2012 at 4:41 pm
People that poor don’t vote.
By its time February 16, 2012 at 7:56 am
just curious..
still waiting to hear how much is “enough” taxes…
reality is that libertarian/anarchists wont be satisfied until there are zero taxes..
and no government
so why not come out and say so, rather than always insisting that whatever tax cuts are proposed are never enough…and never giving a concrete proposal of the “ideal” tax..knowing full well that there is no level of tax that is wanted
and no level of government that you will pay for
By cash February 16, 2012 at 10:26 am
Can you say “family business”? Now that’s some creative accounting.
By cash February 16, 2012 at 10:27 am
Can you say “family business”? Now that’s some creative accounting. Value of a dollar…rut-roh.
By michelle February 16, 2012 at 11:10 am
I did nothing wrong. Should I be scared of the investigation?
By spiderswebb February 17, 2012 at 3:18 pm
As much of an imbecile as she is, surely she knows that she is going to be a one term governor. So, she has got to be looking to exploit a national run to avoid the shame of losing her reelection bid as Gov. Someone needs to get to work pronto on making sure that the national media catches on to her shenanigans. Not only is she a special interest pandering political whore; she is also unintelligent, bordering on mild retardation. (bless her heart)