QUESTION: A tax panel will soon make recommendations to the General Assembly to update the state’s tax code. The chief goal of the panel’s recommendations is to make the code fairer and to make revenues more dependable. Which taxes would you increase, which taxes would you cut to achieve those goals?
|Nikki Haley, Lexington, Republican||Morgan Reeves, Irmo, Green and United Citizens parties||Vincent Sheheen, Camden, Democrat|
|ANSWER: The TRAC Commission is a positive thing, in that it acknowledges the need for South Carolina to reform our band-aided tax structure. That said, I plan to introduce my own reform plan that looks at every single tax, every single fee, and every single exemption. Some taxes will go down, some up, but at the end of the day South Carolinians will pay fewer taxes overall. The focus will be on bringing down taxes in a way that creates jobs - like cutting the personal and business income taxes - and making our state more competitive, more business friendly, and an even better place to live, work, and raise a family.||ANSWER: We must curb sales tax increases, as it is a use tax which punishes the impoverished at a greater rate than the wealthy. Property taxes must be made equitable for those with low-valued homes and those with plantation homes. The income tax rate should be increased on the most wealthy, as they have the ability to help sustain our state until we can all rise up with jobs in our new economy. Removing taxation caps on luxury purchases such as boats and planes would increase revenues while ensuring all are paying their fair share.||ANSWER: We need comprehensive tax reform. As governor, I will take on the entire tax code to lessen the burden placed on existing businesses and create a healthy climate to recruit new business. We can minimize the impact taxes have on families and create a stable funding source for education. I will make a balanced tax system a priority during my term as governor. We live in tough economic times and I do not support raising the food tax.|