Bredesen Wants to Close Family Business Tax “Loophole”

Promoted from The Conservatarian.

It appears Governor Bredesen just doesn’t get it. The last thing you want to do in an economic downturn is raise taxes or implement new ones, which is just what Bredesen wants to do. He claims that the $45 million “loophole” is outrageous. I am of the opinion that government has never seen a hard-earned dollar it didn’t like, so it is out to claim more. No doubt, he feels it is the family business’ “patriotic duty” to pay these duties, to quote Joe Biden.

It is quite disingenuous for Gov. Bredesen to call this loophole “sinful”, especially when the state government is not looking to cut spending in the cold decisive manner my household does when we go over our budget.

Here’s an idea for the governor: cut each department that is not essential to the direct function of government first (the department, not the funds). See how much money you have left over, then get back to the honest and hardworking family businesses paying their fair share of taxes in the state. What the governor is trying to do is he is trying to create an income tax on a certain class of businesses, and this is just plain wrong. Tennessee taxpayers need to acknowledge the evil of this plan, and kill the idea again this year, as it was last year.