Setting the record straight

March 30, 2012 8:58AM

Beacon CEO Justin Owen takes issue with a recent editorial by the Chattanooga Times in opposition to the state death tax repeal efforts. Read his letter to the editor here and below. Repealing death tax is the way to go Contrary to your March 27 editorial (Tennessee tax breaks and racism), Gov. Haslam and lawmakers are right to repeal the state’s immoral, economically devastating, and fiscally irresponsible death tax. The Beacon Center of Tennessee recently published two reports that debunk your claims, both available online at First, mega-millionaires don’t pay our death tax; they move out of our state. Those left holding the bag are cash-poor farmers and family business owners. Second, we published a study by noted economist Art Laffer showing the impact of all those fleeing our state. I for one want to keep wealthy and retired residents in Tennessee. That means more investments, more jobs, and more tax revenue than we currently enjoy. Driving away these job creators and taxpayers does no one — rich or poor — any good. Repealing the death tax is the right thing to do for all Tennesseans. JUSTIN OWEN President and CEO Beacon Center of Tennessee Nashville