Speaking of low taxes down in Dixie, now South Carolina is getting into the act. They’re following the lead of Mississippi’s tax slashing – a story we reported on Monday.

Not long ago, South Carolina had one of the highest income tax rates (above 7%) in the south, but a new bill that is sailing through the legislature in Columbia would slash the rate from 6.2% to 3.99% and eventually to 2.5%. Governor McMaster says he’s eager to sign this bill.

“South Carolina will have a lower income tax rate than many of our neighboring states, lower than North Carolina, Georgia, Alabama and Virginia,” said Rep. Bruce Bannister, R-Greenville.

Ahh, tax competition. It’s a beautiful thing.