Why this is the worst time to rewrite the SC tax code

I would humbly suggest that state legislators should re-direct their energy from rewriting our tax code and focus on real problems that need immediate attention (monopoly control, ethics, etc.).

Those of us who have labored over S.C. income tax forms for the past 50 years know that the state tax is based on whatever our “taxable income” is on the federal return. The federal government is in the process of a massive rewrite of the tax code. I cannot imagine that a realistic rewrite of the S.C. tax code could be accomplished without knowing the base from which to begin. A classic case of putting the cart before the horse.

There may be some value in reviewing promises of the past and needs for the future to prepare for whatever comes from the feds.

This story was originally published October 13, 2017 at 10:28 AM.