S.C. Senator Katrina Shealy’s proposal to eliminate South Carolina’s income tax over the next five years is receiving attention at the national level, sources tell FITS.
Multiple national groups have contacted Shealy (R-Lexington) and expressed interest in learning more about her plan, activists familiar with the conversations tell FITS.
Last month Shealy proposed the complete elimination of all brackets of the state’s individual income tax – a.k.a. the levy paid by all taxpayers and the vast majority of South Carolina businesses. Best of all, her plan would not offset this “lost revenue” with tax increases elsewhere in the state budget.
It’s a pure tax cut, in other words …
“This bill could allow small business owners in South Carolina to keep more of their hard-earned income and, in turn, give them a greater opportunity to reinvest in their businesses and hire more employees,” Shealy said.
Shealy’s plan has been endorsed by S.C. Sen. Tom Davis (R-Beaufort), the leading pro-free market, pro-liberty lawmaker in the S.C. General Assembly.
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3 comments:
Imagine if this were proposed in MD. The loonies would flip their lid.
I can hear Mikulski now (mouth breathing, of course), "Dis wood neber werk. We's hab to tax moor... div back to people whose needs it"
WAAAAIIT a minute, here. You go and do that and sales will increase. That means we have to manufacture more stuff. That means we'll have to open up those factories again. Then we'll have to hire more people. When they get paid, you're going to let them keep that money, too? That will mean they will buy even MORE stuff!
They just shift it and tax you somewhere else.
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