The deterioration of roads and bridges in South Carolina is a serious problem that will only worsen if repairs continue to be delayed.
Because the price of gasoline has fallen about $1 per gallon, Gov. Nikki Haley announced she would consider increasing the highway gas tax by 10 cents per gallon to create more funds for repairs.
I agree that is an excellent idea, but I was surprised a Republican governor would propose any kind of tax increase. The 10-cent increase would generate $3.5 billion for the state.
But Haley says she will only agree to the increase if lawmakers agree to cut the state income tax to 5 percent from its current 7 percent, a move that would reduce state revenue by $8.5 billion. Conventional arithmetic shows this move would reduce state revenue by $5 billion.
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The wealthy will certainly approve of this idea because they will be the biggest beneficiaries of the $5 billion tax reduction.
Sun City Hilton Head