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Keyword: tennesseeincometax

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  • A state income tax is constitutional - if three justices say so

    05/24/2002 8:08:50 AM PDT · by Lost Highway · 3 replies · 259+ views
    The Tennessee Journal ^ | 12-26-01 | Ed Cromer
    As state senators search for an income tax package that could command a majority vote, many of those opposed to the concept continue to assert that a tax on general income is unconstitutional in Tennessee. The last five state attorneys general have signed opinions defending the constitutionality of such a tax. The present attorney general, Paul Summers, issued the most detailed of these opinions two years ago. And he has several times appeared before legislative committees and met with legislators in private settings to reaffirm his position and answer questions. Yet, for the nearly three years in which the current...
  • Spending cuts now may lessen future deficits

    03/21/2002 9:13:10 AM PST · by tdadams · 19 replies · 156+ views
    Nashville City Paper ^ | March 21,2002 | Bill Hobbs
       Colorado has an income tax, yet Colorado also has a big budget shortfall thanks to the recession, proving that not even an income tax can assure a state will avoid fiscal crises. But that's not the most important lesson of Colorado's budget crunch. The truth is Colorado's $1 billion shortfall would have been far worse if the state hadn't finally placed a firm limit on the growth of spending a few years ago. The Taxpayer Bill of Rights (TABOR) in Colorado's constitution limits spending growth to the rate of inflation plus population growth. Revenue above that TABOR limit is...