Gov. Haslam on Wrong Side of State's Death Tax
Dr. Art Laffer, former advisor to President Reagan and renowned economist, released a report on the state of Tennessee’s ‘Death Tax’ and concluded that had we repealed this tax 10 years ago Tennessee would be in much better economic health than it is today.
- Create 200,000 more jobs
- Grow Tennessee’s economy by 14% and spark innovation
- Net $7 billion more in state and local tax revenue due to increased economic activity
- Foster a competitive business climate without special tax breaks for select private business
Unfortunately, Gov. Bill Haslam has come out against repealing the Death Tax for shortsighted reasons. The Governor believes that state needs the revenue from the Death Tax because of the current state of the economy.
Gov. Haslam’s priorities are wrong. Creating jobs for the people of Tennessee is more important than funding government spending.
The choice is clear for Gov. Haslam; 200,000 more jobs for hard-working Tennesseans or protect a source of revenue to fund the state’s bureaucracy?
Tennessee would be in much better shape without a double-tax on personal income. Tennessee’s Hall Tax and the Gift and Estate Tax (aka The Death Tax) is pushing successful Tennessee companies and families to states like Florida that do not have such an unfair tax structure.
Why does it matter to you?
This issue is not about protecting the rich. It’s about growing Tennessee’s economy so more people have jobs, so more families can afford sending their children to college and so small-businesses can grow and hire more employees.