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Wednesday, September 11, 2024
Government106th District Candidate Reports State’s pension plans are underfunded  by more than $30...

106th District Candidate Reports State’s pension plans are underfunded  by more than $30 billion

Candidate for District 106, Brian Sweeney, sent us the following remarks after the S.C. House voted on tax cuts this week.

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The recent House vote to reduce South Carolina taxes and Russell Fry’s reportedly not casting a vote has  caused some to ask my opinion on the whole subject of taxes. Fair question.  

I am in favor of reducing taxes to the bare minimum  required to fund functions that government rightly performs. Having said that, I will also say that there are a great many functions the government (Federal,  State and local) has no business being involved with.  

That list could go on for volumes. So, in my view,  any taxes that are used to perform functions that do  not need to be performed (or do not need to be  performed by government) should be refunded to  the tax payors.  

However, this latest round of tax cutting, wherein  our friends in Columbia have taken part of the  Federal “Stimulus” money, that was stolen from us in the first place, to reduce state taxes is not a tax  

cut. It is simply robbing Peter to pay Paul.  

I relayed these sentiments several days ago via a FB  post, a copy of which is shown here. As you can see,  I had the same views a few days ago as I do now.  

Further, it is clear that the supposed surplus position  of the State, even without the “Stimulus” money, is  illusory. The State’s pension plans are underfunded  by more than $30 billion. Saying that South Carolina has a surplus is as misleading as saying the U.S.  

National Debt is only $30 trillion. 

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