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Tuesday, March 27, 2012

A welcome change

After fighting for so many years against what tax increases were going to be added onto people during the Bredesen administration, it is nice to see we are now fighting to decide what taxes we are going to take off of people.

1 comment:

  1. Thanks for providing such a good description of the Hall Tax. However, it seems like people over 65 should not have to pay the Hall Tax.

    According to the guidelines for 2012, someone making only around $27,000 per year will have to pay 6% of their interest and dividend income to the state. $27,000 is not a lot of money for someone to have to live on for an entire year. And with CD's paying less than 1%, and a lot of older people afraid to start investing in the stock market, what are they to do?

    The Hall Tax is a drain on their savings. Many older people are afraid of running out of money before they run out of time.

    Could this be considered in the future? I mean you could still tax people for 40+ years, until they were 65.

    ReplyDelete

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