Posts Tagged ‘taxation’

Gov’t Waste Exposed in West Tennessee

Action News 5 in Memphis analyzes Beacon’s 2014 Pork Report, and gets the reaction of local officials who were caught abusing taxpayer money. One official even admitted to failing to follow the law:

Haywood County taxpayers forked out $41,000 for a new fingerprint machine, another $39,000 for two used patrol cars, and nearly $40,000 for new tires for school buses at Haywood County Schools. None of those items went through the proper bidding requirements.

“We try to comply with the law, but there are occasions that we don’t,” Haywood County Mayor Franklin Smith said. “We didn’t fulfill the requirement, as far as advertising fingerprint machines or the vehicles, but we didn’t solicit bids locally.”

When asked if that was against the law, Smith said, “Well it’s a violation, yeah, and I get written up for it.”

Watch the entire story here.

 

October 8th, 2014 | Commentary

Beacon statement on death of Hall Tax repeal bill

Beacon CEO Justin Owen on the withdrawal of the Hall Income Tax repeal bill:

“We are deeply disappointed that we could not provide needed tax relief to Tennessee’s seniors and job creators by repealing the Hall Income Tax. But it is important to note that this bill died purely based on perception due to unexpectedly poor revenue news delivered during the course of the debate. There is strong support among Tennesseans for repealing this tax, and the economic benefits a repeal would provide are indisputable. We will not back down until this immoral and economically destructive tax is off the books and Tennessee becomes truly income tax free once and for all.”

April 17th, 2014 | Recent News

Why TN’s zero-tax street cred comes with an asterisk

This recent Forbes column exposes Tennessee’s income tax secret and notes Beacon’s success in telling the stories of those impacted by the Hall Income Tax.

…But, more importantly, tax policy affects real families and their ability to build a sustainable life. This report, published by The Beacon Center, gives real-life examples of how this little-known tax hurts retirees who have selected Tennessee because of it “no-income-tax” claims. The truth is that the Hall Tax penalizes seniors by creating unexpected retirement expenses. For one middle-class couple who has retired to Tennessee and primarily lives off the income of their hard-earned savings and investments, the Hall Tax came as a surprise. They now are finding themselves with the difficult decision of uprooting to a “true” no-income-tax state, such as Florida.

The report also tells the story of a successful Tennessee entrepreneur, Nickolas Holland, who would like to cease collecting a salary from one business while he spends time growing his second business. His choice would be to draw income from his shares of stock from his more stable first company. His plans have been thwarted by the heavy penalty of the Hall Tax.

Tennessee has done much to create an environment that is attractive to, and supportive of, its workers, business owners and retirees. In fact, my own home state of Missouri could learn much from our neighbor to the east. Volunteer State leaders should seriously consider putting an end to this “hidden” tax that penalizes seniors and job-creators and prevents future investors.

Read the entire article here.

April 4th, 2014 | Recent News