State of South Carolina Archives: on Tax Reform


Nikki Haley: Flatten individual income tax from six brackets to three

Tax reform is critical to our state--every conversation we have with CEOs at some point drifts to our tax structure. Our budget includes almost $140 million in tax cuts for the people and businesses of South Carolina. These cuts will flatten the individual income tax from six brackets to three, reduce taxes for the citizens of our state by almost 80 million dollars, and phase out the corporate income tax over a four year period, injecting much needed dollars back into our businesses and giving us an unbelievable economic development tool. The tax relief we ultimately adopt must be broad-based, offering relief to as many South Carolinians as possible. And these tax cuts should mean lower rates--not more credits, exemptions, and loopholes that only benefit a chosen few. Together, I believe we can agree to a set of tax cuts that make South Carolina more competitive and send more dollars back where they belong--in the pockets of the people and businesses of our state.
Source: 2012 S.C. State of the State Address Jan 18, 2012

Fred Thompson: Tax cuts raise revenues; so much for the experts

Q: [to Giuliani]: You have been running ads that say reducing taxes actually will increase revenues. Experts say that tax cuts add to the deficit, they donít reduce it. Do you stand by your statement?

GIULIANI: Well, the reality is that some tax cuts d add to revenues. Other tax cuts donít add to revenues. It depends on the tax cut. If it is anti-competitive, youíre actually going to get more revenues from that tax cut.

THOMPSON: I need to defend Rudy a little bit on his tax plan, because it looks an awful lot like the one I put out a couple of months ago. The government never loses as much revenue as the experts say weíre going to. With the Ď01 and Ď03 tax cuts in place, we received more revenue into the government in one day in April of this year than ever before in the history of the country. So much for the experts, as far as thatís concerned. It does stimulate growth and itís overall beneficial for the economy.

Source: 2008 GOP debate in S.C. sponsored by Fox News Jan 10, 2008

Ron Paul: Spending money doesnít stimulate economy; reduced taxes do

Q: Do you support a government program to stimulate the economy?

A: Well, a government program is too vague. What kind of a government program? If itís appropriating money and trying to stimulate that way and spend more money, no, that would be the wrong thing to do. But a government program of a reduced tax burden, yes, that would be. I believe weíre in a recession. Over-stimulation in an economy by artificially low interest rates by the Federal Reserve is the source of the recession.

Source: 2008 GOP debate in S.C. sponsored by Fox News Jan 10, 2008

Rudy Giuliani: Cutting anti-competitive taxes raises more revenue

Q: You have been running ads that say reducing taxes actually will increase revenues. But the bipartisan Congressional Budget Office, as well as other experts, all say that tax cuts add to the deficit, they donít reduce it. Do you stand by your statement

A: Well, the reality is that some tax cuts do add to revenues. Other tax cuts donít add to revenues. It depends on the tax cut. And tax cutting has been part of the Bush program, the Reagan program, the Kennedy program, and it always led to significan increase in economic activity. If you cut something like the corporate tax at 35%, you bring it down to 30%, you will get more revenues from that cut, because our corporate tax is the second highest in the world. If you cut some other tax, you might not get those kinds of revenues. So, the question is: What tax are you cutting? Is it anti-competitive? If it is anti-competitive, youíre actually going to get more revenues from that tax cut.

Source: 2008 GOP debate in S.C. sponsored by Fox News Jan 10, 2008

  • The above quotations are from State of South Carolina Politicians: Archives.
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2016 Presidential contenders on Tax Reform:
  Democrats:
Secy.Hillary Clinton(NY)
V.P.Joe Biden(DE)
Gov.Andrew Cuomo(NY)
Mayor Rahm Emanuel(IL)
Gov.Martin O`Malley(MD)

Republicans:
Amb.John Bolton(MD)
Gov.Jeb Bush(FL)
Dr.Ben Carson(MD)
Gov.Chris Christie(NJ)
Sen.Ted Cruz(TX)
Gov.Mike Huckabee(AR)
Gov.Jon Huntsman(UT)
Gov.Bobby Jindal(LA)
Rep.Peter King(NY)
Gov.Sarah Palin(AK)
Sen.Rand Paul(KY)
Gov.Rick Perry(TX)
Sen.Rob Portman(OH)
Secy.Condi Rice(CA)
Sen.Marco Rubio(FL)
Rep.Paul Ryan(WI)
Sen.Rick Santorum(PA)
2016 Third Party Candidates:
Mayor Michael Bloomberg(I-NYC)
Gov.Gary Johnson(L-NM)
Donald Trump(NY)
Gov.Jesse Ventura(I-MN)
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Page last updated: Mar 29, 2014