Tag Archives: burden

Study: TN Taxes Hardest on Middle and Low-income Families

News release from Tennesseans for Fair Taxation:
Nashville, Tennessee – Like most state tax systems, Tennessee takes a much larger share from middle- and low-income families than from wealthy families, according to the fourth edition of Who Pays? A Distributional Analysis of the Tax Systems in All 50 States, released today by the Washington-based Institute on Taxation and Economic Policy (ITEP) and Tennesseans for Fair Taxation (TFT).
Combining all of the state and local income, property, sales and excise taxes Tennessee residents pay, the average overall effective tax rates by income group are 11.2 percent for the bottom 20 percent, 8.8 percent for the middle 20 percent and 2.8 percent for the top one percent. Nationally, those figures are 11.1 percent for the bottom 20 percent, 9.4 percent for the middle 20 percent and 5.6 percent for the top one percent. The full report is online at www.whopays.org.

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Study says TN Has 3rd Lowest Tax Burden Among States

MEMPHIS, Tenn. (AP) — A study by a conservative research organization reports that Tennesseans carry the third-lowest burden of state and local taxes.
The study by the Tax Foundation said Tennesseans pay an average of 7.7 percent in per capita income in taxes. The national average is 9.9. percent.
The Commercial Appeal (http://bit.ly/TROUa3 ) reports that Tennessee gained one position, going from 47th to 48th lowest tax burden, between fiscal year 2009 and fiscal year 2010. Only Alaska and South Dakota had lighter tax burdens in the study.
The ranking computes the total amount of state and local taxes paid by residents and then divides the total by each state’s total income.

Challenging Task: Finding Onerous Regs to Repeal in a Pro-Business State

A major effort is underway these days by Tennessee politicians to find onerous state burdens on business to repeal.
At least for Republicans, this seems to be a centerpiece of much-discussed efforts to promote creation of new jobs at the state level. For Democrats, relegated to a separate search for job creation ideas in today’s new political normal, the search itself seems the present centerpiece.
The Department of Economic Development, having researched the matter at length, is supposed to give a report to Gov. Bill Haslam next month. The Republican governor himself set the tone by ordering a 45-day freeze on new regulations as one of his first official acts and he now asks for suggestions at “economic roundtable” events held for business leaders around the state.
Lt. Gov. Ron Ramsey has set up a website, www.tnredtape.com, with the avowed purpose of providing a place “where regular Tennesseans can have a voice and seek relief from oppressive government red tape.”
When the House Republican Task Force on Small Business and Economic Development joined the quest last week with a listening session, the first fellow to testify was a small town pharmacist, Richard Skiles of Kenton, whose complained about a paperwork burden imposed by vote of every member of the task force.
That was the new law, enacted by legislators earlier this year, that puts a bunch of new restrictions on the sale of decongestants containing pseudoephedrine. The bill passed unanimously and with support of the pharmacists’ lobby as better than alternative legislation that would have require the decongestants to be sold by prescription only.

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