Legislature shouldn't smother state in taxes

TAX increases are now the preferred inhalant in Olympia. This page advised legislators to just say no to temptation. Our thought was that the public is not strong enough now to carry a heavier burden of taxes. But by taking away the two-thirds requirement for raising taxes, the Legislature signals that tax increases are coming.

Their first step is a bill putting back some taxes the courts threw out, most of them on out-of-state banks and food companies. We will not argue with those. Let them pay.

Then come some other things, such as a 1.5-percent tax on the stipends of corporate directors and removing the sales-tax exemption for manure-handling equipment in beef cattle feedlots. Let them pay, too.

The appetite, at least in part of the Democratic caucus, is for much more than this. Taxes are proposed on bottled water and on candy and gum to name a few. There is a thought of piling taxes high enough to buy back all that Gov. Chris Gregoire proposed in her book-two budget, and several hundred millions more.

Here is the problem. The economy is still in a hole. It's a deep hole, and taxes make it harder to get out. The higher the taxes, the harder it is.

The governor, to her credit, recognizes that. Her caucus should, too.

We hope this state's economy comes back strong, with dollars pouring in to the Department of Revenue. Maybe it will — but maybe it won't.

Boeing is no longer a young company, and it has taken the first step toward producing airplanes in South Carolina. Microsoft is a grown-up. Starbucks reaches saturation. Forest products is beyond mature.

The new economy will be powered by what?

We don't know. It doesn't mean the economy won't take off. With inventive minds, you never know. Thirty-five years ago, no one predicted Microsoft.

It could happen again — but our economy has to be open to it — which means, in part, that it not smothered by too many taxes.