The former chairman of the S.C. Board of Economic Advisors, Dr. Harry Miley, has added his two cents on the tax discuss and debate.
“What do we need to do? We need to do what everyone has been saying we need to do for the last several decades — undertake a thorough evaluation of our current system and redesign it from top to bottom. The recent proposals for the corporate and personal tax rates may be what are needed, but they need to be considered in the context of a comprehensive evaluation of the entire system. Whether it’s done by the Palmetto Institute, a special legislative committee, a business coalition or a mix of all the above, that is what we need to do.
“When we do it we need to be careful to distinguish discussions about how much government spends from discussions about how government raises the revenue to pay for the services. But we must stop doing it piecemeal in a vacuum. Please ….”
Take a moment to read all he has to say.