Tennessee 2002

Paper Summary:

The following paper examines the issue of income tax for Tennessee in recent years. The writer discusses the split in opinions about the income tax rate and the many varied views about how it should be implemented. This paper suggests a restructuring of the tax system by politicians and legislators.

From the Paper:

"It is true that Tennessee in the recent years have experienced shortage in the work force, especially the well-trained work force that is the most critical factor for a sustained economic growth. Education is the single most decisive factor and a skilled and well-trained work force is essential for growth. The need for a quality research university helps to break new technological innovations, which further help, in bringing new companies and well-paying jobs. Tennesseans realize that government is an essential partner if they hope to achieve these things. The irony of the present situation is that before the State fall in the late 90's, the State was among the top earning in the union and boasted a triple A bond rating and was among the most well managed states in the union. There are concrete reasons for opposing the income tax, instead of putting more burdens by punishing the work and hard earned with income tax it makes sense to let the work but rewarding by giving some tax relief to the people."

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