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Tax revenue down, comptroller says
Friday, August 8, 2008
Tax revenue down, comptroller says
COLUMBIA — South Carolina Comptroller General Richard Eckstrom said Thursday that tax collections fell by as much as 3 percent in July.
Eckstrom said he expects the state's financial leaders on Tuesday will set aside a state reserve account to head off future shortfalls from a weak economy. And he said he expects the state will set aside money from agency budgets.
Eckstrom said data he reviewed showed that state income tax refunds in July increased by about $27 million from year-ago levels.
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Comments
feb251939 (anonymous) says...
HANG ON TO YOUR WALLETS!!! They are coming after us AGAIN.
August 8, 2008 at 8:16 a.m. ( permalink | suggest removal )
iceman1978 (anonymous) says...
I'm going to toss an idea out about how we can generate more revenues, increase the availability and quality of public services, and be able to abolish car taxes and the state income tax. We had talked about this subject on a different thread.
We could increase the sales tax 2% and abolish the income and car taxes. Florida and Tennessee have a higher sales tax than we do, but no taxes on income or property and manage just fine.
Increase the tax on cigarettes by 10 cents and use the money to go towards preventative care for those unable to afford medical insurance.
Legalize gambling, but strictly regulate it with regards to the architectual design of casinos as well as the house minimum. In other words, have a casino that resembles the casino at Monaco. No flashing lights and nothing tacky, just tastefully done and elegant. Also, make the house minimum high enough so that only the very wealthy could afford to gamble. Imagine if the Sanctuary at Kiawah could have a gaming room where the minimum was $500 a hand at blackjack or baccarat. Can you imagine the kind of tax revenue that place could pull down in one night?
Use gaming revenues to go for road improvements, education and to shore up the budget if the sales tax doesn't cut it.
August 8, 2008 at 10:33 a.m. ( permalink | suggest removal )
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