https://sealsd.com/2025/03/03/deep-dive-taxes/
3rd party review
Property taxes can feel like a big weight on homeowners and businesses in South Dakota. Two ideas have popped up to lighten that load: the sealsd.com proposal and something called fair tax practices. Both want to help, but they do it in different ways. This page explains what they’re about, how they work, if they’re fair, and what challenges they face—all in a way that’s easy to follow.
What Are the Goals?
Both ideas aim to make property taxes less of a problem, but they have different focuses:- Sealsd.com Proposal: This plan wants to get rid of property taxes completely. It’s all about protecting your right to own your home or land without extra costs. Plus, it hopes to help the economy by putting taxes on businesses instead.- Fair Tax Practices: This idea is about making taxes fairer, especially for people who don’t earn a lot. It swaps property taxes for higher sales taxes (what you pay when you buy stuff) but gives money back to lower-income families to help them out.**In short**: Sealsd.com protects property and boosts the economy. Fair tax practices help lower-income folks more directly.
How Do They Work?
Here’s how each idea replaces the money from property taxes:- Sealsd.com Proposal (GRT): This plan puts a 2.5% tax on what businesses sell, called a Gross Receipts Tax (GRT). Imagine a store makes $100 selling clothes—it pays $2.50 in tax. The plan takes two years to start fully and gives breaks to businesses like farms that don’t make big profits.- **Fair Tax Practices (Sales Tax with Rebates)**: This one raises sales taxes—like when you buy a $10 shirt, the tax might go up a bit. But it gives families a monthly check (called a prebate) to cover taxes on things they need, like food. For example, a family spending $20,000 a year might get $2,000 back to balance it out.**In short**: Sealsd.com taxes businesses. Fair tax practices tax shoppers but help lower-income families with cash back.
Is It Fair?
Fairness matters a lot. Let’s see how these ideas stack up:- **Sealsd.com Proposal**: It saves homeowners money by cutting property taxes, which helps lower-income families a bit. Small businesses making under $100,000 don’t pay the GRT, which is nice. But if businesses raise prices to cover the tax—like a $1 soda becoming $1.01—it could hit everyone.- **Fair Tax Practices**: This plan directly helps lower-income families by giving them money back. If a family spends $20,000 on basics, they might get enough cash to cancel out the extra sales tax. It’s more protective but trickier to manage since the government has to send out checks.**In short**: Sealsd.com helps homeowners and small businesses but might raise prices. Fair tax practices shield lower-income families better but take more work.
What Are the Challenges?
Both ideas have hurdles to jump over:- **Sealsd.com Proposal**: – It needs to raise enough money to replace property taxes—about $1.6 billion. That’s a lot, and it depends on businesses paying up. – It’s simpler to start, but higher prices could sneak up on shoppers.- **Fair Tax Practices**: – Sending out rebate checks takes a lot of organizing, which could cost extra and get messy. – Places like Nebraska tried something similar and ran into arguments about finding enough money.**In short**: Sealsd.com is easier but might not cover everyone. Fair tax practices are fairer but harder to run.–Which Idea Might Be Better?
It depends on what you care about:
If you like simplicity and owning property without taxes, go for the sealsd.com proposal. It’s straightforward and helps homeowners fast.-
If you want to support lower-income families directly, fair tax practices might be your pick, even if they’re tougher to set up.Both have to figure out how to replace property tax money, and neither is perfect. Sealsd.com fits South Dakota’s rural vibe, while fair tax practices focus more on helping people who buy things.
Cool Extra: Constitutional Safeguards The sealsd.com plan has a special twist—it adds rules to South Dakota’s constitution:- The GRT can’t go above 2.5%.- Voters have to say yes to any tax hikes.- Property taxes can’t come back unless voters agree.This keeps taxpayers in control, which is a neat bonus.
Wrapping It Up
The sealsd.com proposal and fair tax practices both want to ease the pain of property taxes in South Dakota. Sealsd.com taxes businesses and cuts property taxes fast, making it simple but possibly raising prices. Fair tax practices tax shopping but give money back to lower-income families, making it fairer but harder to do. Knowing what each one offers can help you pick the best fit for South Dakota.