PDA

View Full Version : SC to lower sales tax..........oh, wait.



Pugwash
07-23-2010, 01:15 PM
South Carolina consumers would pay sales taxes again on groceries and start paying taxes on Internet music downloads, prescription drugs, electricity, water and a range of other items under a proposal that won initial approval Tuesday by a tax overhaul panel.....................Burnett Maybank, the commission's chairman and a former state Revenue Department director, said the draft measure would leave state tax revenues about where they are but collect money from more sources and reduce the state's current 6 percent sales tax to 4.96 percent............

"You're absolutely adding costs across the income spectrum -- but more across the bottom," said Matthew Gardner, executive director of Institute on Taxation and Economic Policy in Washington. Gardner's group studies state tax policies and is reviewing South Carolina's sales tax proposal. "It's hard to find items that you could tax that would have more of a regressive impact than groceries and utilities."
John Ruoff, research director for South Carolina Fair Share, said he was particularly concerned about the proposal to impose sales taxes on prescription drugs. "That has a real possibility of creating some real hardships," Ruoff said. That's particularly true for the state's uninsured.
.

http://www.businessweek.com/ap/financialnews/D9H43J980.htm


Teaparty economics at work.

You Have Been Warned.

Uncle Duke
07-23-2010, 01:43 PM
...and start paying taxes on Internet music downloads...
Now, how are they intending to track that? That's just stupid.

Pugwash
07-23-2010, 01:58 PM
Now, how are they intending to track that? That's just stupid.

Dunno how it works anywhere else but in SC if you buy anything on the intertubes and don't pay sales tax because it come from another State, you are supposed to report the purchase and pay the sales tax here.

I'm not sure how effective that collection policy is though...:)

ben2go
07-24-2010, 12:38 PM
I hate living in SC.I live in the heaviest taxed county in the heaviest taxed town.My county assessor told me this after I complained about my property tax assessment.