SC

Katrina Shealy Mulls “Major” Income Tax Cut

The lone female member of the South Carolina Senate is poised to become the only lawmaker in Columbia proposing anything resembling substantive tax relief. Or so we’re told … Katrina Shealy – an independent petition candidate who knocked off one of the State Senate’s top fiscal liberals in 2012 –…

The lone female member of the South Carolina Senate is poised to become the only lawmaker in Columbia proposing anything resembling substantive tax relief.

Or so we’re told …

Katrina Shealy – an independent petition candidate who knocked off one of the State Senate’s top fiscal liberals in 2012 – is preparing what sources describe as a “major” income tax relief proposal. And while Shealy wouldn’t discuss specifics of the plan with us – or even acknowledge she was filing a tax bill – her response to an inquiry from FITS’ founding editor Will Folks (a.k.a. Sic Willie) was revealing.

“I haven’t filed anything yet but when I do I will let you know,” Shealy said.

Everybody catch the “yet” and “when” in there?

According to our sources, Shealy’s contemplated legislation will propose “major reductions” in the state’s income tax – which is one of the highest in the nation. In fact in addition to being punitively high, South Carolina’s top marginal rate kicks in at $14,000 – meaning virtually all income earners are stuck paying that high rate.

That’s obviously a recipe for disaster for a state with the fifth-lowest income levels in America. It’s also a disaster for South Carolina’s real “business community,” the vast majority of which is comprised of small businesses and partnerships which pay the individual levy.

So, how much is Shealy going to cut? And how fast? And more importantly, is she going to fall victim to the doctrine of “revenue neutrality,” which rejects the stimulative economic benefit of tax cuts and insists any income reduction must be “paid for” with a tax hike elsewhere in government?

We’ll have to wait and see, but a Senate staffer familiar with the details of Shealy’s proposal swears it will be right up our alley.

“You’re going to love it,” our source said, referring to this website’s longstanding support for eliminating the individual income tax.

We’ll see …

This website endorsed Shealy last November (well actually our founding editor’s adorable daughter did the honors). Our hope? That she would aggressively champion pro-taxpayer, pro-free market legislation. Obviously we’re eager to see what she rolls out.

“Republicans” at the S.C. State House have proposed laughable income tax cuts so far this year. S.C. Gov. Nikki Haley proposed a ridiculously inconsequential $29 cut for the average filer in her FY 2013-14 budget (assuming there was a surplus), while S.C. Rep. Tommy Stringer (RINO-Greenville) has proposed a similarly weak $86 cut for the average filer.

Pathetic … in fact Stringer has since proposed a 30 percent increase in the state’s gasoline tax, along with a plan to impose annual increases in future years based on inflation.

And these politicians call themselves “Republicans?”

Hopefully Shealy will propose a real tax cut, not more of this same nonsense. Either way, we’ll be sure to let you know what she proposes as soon as we get our hands on the legislation.

***

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36 comments

Smirks March 27, 2013 at 5:03 pm

Inb4 shell game of lowering income tax in favor of raising a more regressive tax to cover the cost of it.

Reply
Smirks March 27, 2013 at 5:03 pm

Inb4 shell game of lowering income tax in favor of raising a more regressive tax to cover the cost of it.

Reply
Isotope Soap March 27, 2013 at 5:16 pm

Time for pulling the wool over your own eyes again.

Reply
John Boy March 27, 2013 at 5:16 pm

Time for pulling the wool over your own eyes again.

Reply
Moman50 March 27, 2013 at 5:23 pm

I thought Fits was no longer a Republican?Said he was “through” with them!So why does he care who is or isnt a Republican?

Reply
mat catastrophe March 27, 2013 at 7:37 pm

Because the greatest trick the devil ever pulled was in convincing you he wasn’t a Republican.

Reply
Moman50 March 27, 2013 at 8:11 pm

He says he isnt.Said he was “through” with them!You mean hes(gulp)Lying?

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Dog March 27, 2013 at 8:24 pm

Is that usual suspects? Or bulgakov

Reply
Moman50 March 27, 2013 at 5:23 pm

I thought Fits was no longer a Republican?Said he was “through” with them!So why does he care who is or isnt a Republican?

Reply
mat catastrophe March 27, 2013 at 7:37 pm

Because the greatest trick the devil ever pulled was in convincing you he wasn’t a Republican.

Reply
Moman50 March 27, 2013 at 8:11 pm

He says he isnt.Said he was “through” with them!You mean hes(gulp)Lying?

Reply
Dog March 27, 2013 at 8:24 pm

Is that usual suspects? Or bulgakov

Reply
Thomas March 27, 2013 at 6:57 pm

In a state that has over 17 billion dollars taken in through tourism, coupled with the US and International patent technology transfer incomes from the SC Centers of Economic Excellence, the poor, the working poor, the single proprietor small business, the two paycheck family should see some return in the form of changing the tax burdens. Agreed!

I am so proud to have Senator Shealy (R-Lex) representing me. This is only the beginning.

Congratulations Sen Shealy!

Reply
nitrat March 28, 2013 at 9:39 am

If we were smart we would get back to a balanced taxation system like we had before Act 388.

Reply
southmauldin March 28, 2013 at 9:51 am

I wish I could give this comment a million likes. 388 is exactly why our tax system is so screwed.

Reply
Thomas March 27, 2013 at 6:57 pm

In a state that has over 17 billion dollars taken in through tourism, coupled with the US and International patent technology transfer incomes from the SC Centers of Economic Excellence, the poor, the working poor, the single proprietor small business, the two paycheck family should see some return in the form of changing the tax burdens. Agreed!

I am so proud to have Senator Shealy (R-Lex) representing me. This is only the beginning.

Congratulations Sen Shealy!

Reply
nitrat March 28, 2013 at 9:39 am

If we were smart we would get back to a balanced taxation system like we had before Act 388.

Reply
southmauldin March 28, 2013 at 9:51 am

I wish I could give this comment a million likes. 388 is exactly why our tax system is so screwed.

Reply
9" March 28, 2013 at 3:27 am

And you wonder why SC is last in the nation,all round?

You have no idea what a republican or democrat is/was.These variations on a theme posts have become tiresome,predictable and ridiculous .You’ve admitted,after Obama’s reelection,that you’re not really into politics.So, stop the tautology!

Reply
katlaurenscounty March 28, 2013 at 6:24 pm

I rarely have to look up a word. Had to. Tautology…I am developing a crush on you 9″.

Reply
9" March 28, 2013 at 3:27 am

And you wonder why SC is last in the nation,all round?

You have no idea what a republican or democrat is/was.These variations on a theme posts have become tiresome,predictable and ridiculous .You’ve admitted,after Obama’s reelection,that you’re not really into politics.So, stop the tautology!

Reply
katlaurenscounty March 28, 2013 at 6:24 pm

I rarely have to look up a word. Had to. Tautology…I am developing a crush on you 9″.

Reply
Sam March 28, 2013 at 8:17 am

Tommy Stringer is a fraud and a crook. Always has been.

Reply
Sam March 28, 2013 at 8:17 am

Tommy Stringer is a fraud and a crook. Always has been.

Reply
nitrat March 28, 2013 at 9:09 am

Just find out what ALEC proposes.
No GOP legislator anywhere in the nation proposes anything they haven’t gotten from ALEC.

Reply
nitrat March 28, 2013 at 9:09 am

Just find out what ALEC proposes.
No GOP legislator anywhere in the nation proposes anything they haven’t gotten from ALEC.

Reply
a Lexington Republican March 28, 2013 at 10:41 am

While Katrina Shealy was forced to become a petition candidate, she was never an independent petition candidate, as you have listed her. Senator Shealy was, and is, a great member of the Republican Party.

Reply
a Lexington Republican March 28, 2013 at 10:41 am

While Katrina Shealy was forced to become a petition candidate, she was never an independent petition candidate, as you have listed her. Senator Shealy was, and is, a great member of the Republican Party.

Reply
a Lexington Republican March 28, 2013 at 10:42 am

original

Reply
a Lexington Republican March 28, 2013 at 10:42 am

original

Reply
kc March 28, 2013 at 11:52 am

“well actually our founding editor’s adorable daughter did the honors”

Candace Bessenger is someone’s daughter too.
You ever think about that?

Reply
Mike March 28, 2013 at 4:58 pm

Wonder why they aren’t plastering the editor’s daughter tits all over Fits?

Reply
kc March 28, 2013 at 11:52 am

“well actually our founding editor’s adorable daughter did the honors”

Candace Bessenger is someone’s daughter too.
You ever think about that?

Reply
Mike March 28, 2013 at 4:58 pm

Wonder why they aren’t plastering the editor’s daughter tits all over Fits?

Reply
WorkingTommyC March 28, 2013 at 2:14 pm

I’ve heard the same thing as outlined in this article but no details either.

Reply
WorkingTommyC March 28, 2013 at 2:14 pm

I’ve heard the same thing as outlined in this article but no details either.

Reply

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