THE JEENYUS CORNER
YET ANOTHER REPORT LINKS INCOME TAX RELIEF TO ECONOMIC GROWTH
Rather than build a competitive climate that promotes job growth, income growth and expanding consumerism, South Carolina’s leaders have opted instead to spend increasing sums of money on taxpayer-funded incentives – which are basically bribes paid to companies in exchange for locating here. In fact the Palmetto State’s investment in “targeted tax credits“ has soared from $34 million annually in 1998 to more than $1 billion a year in 2010.
Does this policy work?
Of course not … in fact there’s a whole lost decade’s worth of data to prove it.
These bribes don’t work because they shift the state’s tax burden – and they are notoriously secretive, which is a recipe for disaster in a state as corrupt and secretive as South Carolina. Unfortunately, our state’s reliance on these giveaways has continued to expand under S.C. Gov. Nikki Haley, who campaigned as a small business backer but has chosen to govern as a crony capitalist instead.
This website has repeated argued that instead of doling out taxpayer-funded incentives, our state’s leaders should instead reduce our top marginal income tax rate – which currently stands at 7 percent (and kicks in as soon as you earn $14,000).
As you can see from the map below, South Carolina has one of the highest tax rates in the nation – and it kicks in at a very low income level (meaning everybody has to pay it). Effectively, we have the highest income tax rate in the Southeast …
- Who Picks Judges in South Carolina? | THE JEENYUS CORNER (jeenyuscorner.com)
- “Boss Hog” Gets Hog-Tied By The State Senate Ethics Committee | THE JEENYUS CORNER (jeenyuscorner.com)
- South Carolina Grassroots Organizations Call for Real Reform | THE JEENYUS CORNER (jeenyuscorner.com)
- BREAKING NEWS: Honea Path Police Officer Allegedly Chokes Man Who Was Holding His Son | THE JEENYUS CORNER (jeenyuscorner.com)
- Emperor Romney Executes GOP Control Coup: THE EMPEROR HAS NO CLOTHES! | THE JEENYUS CORNER (jeenyuscorner.com)
- Harrell offers no details on self-reimbursement of $325,000 from campaign funds | THE JEENYUS CORNER (jeenyuscorner.com)
- Former police chief: ‘I had a Judas in my camp’ | THE JEENYUS CORNER (jeenyuscorner.com)
- Woman Arrested After Pointing a Gun at Congressman Trey Gowdy | THE JEENYUS CORNER (jeenyuscorner.com)
- SC Agencies Hoard $166 Million | THE JEENYUS CORNER (jeenyuscorner.com)
- Sen. Tom Davis: Bad federal fiscal policy dictates urgent need for state action | THE JEENYUS CORNER (jeenyuscorner.com)