Posted on 03/07/2014 2:51:08 PM PST by ThethoughtsofGreg
Tennessee policymakers are considering the repeal or “localization” of the Hall Tax, a tax on investment income (interest, dividends, and capital gains). The legislature is correct to consider this a pro-growth tax reform proposal. The Hall Tax, like all taxes on investment income, takes in little revenue while creating huge economic distortions and severely hampering economic growth. Repealing the Hall Tax is a pro-growth move that is sure to pay dividends in terms of job growth and income growth for all Tennessee citizens.
Tennessee is usually a state that tax-reformers hail as a role model, given that it has no taxes on wages or “pass-through” business income (businesses filling in the personal income tax code, instead of the corporate income tax code).
(Excerpt) Read more at americanlegislator.org ...
That’s good, because I am sick of paying this tax!
I always just ignored it.
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