State and Local Budget Cuts Harm Nation's Economy

Gov. Bill Haslam will release his state budget Monday, March 14, and has warned that his plan is to cut, cut, and cut some more - to the tune of more than $1 billion.
This article out of Nashville's News Channel 2 highlights the dangers of such an approach to our economy, job creation, and collective well-being:

"Deep spending cuts by state and local governments pose a growing threat to an economy that is already grappling with high unemployment, depressed home prices and the surging cost of oil.

Lawmakers at state capitols and city halls are slashing jobs and programs, arguing that some pain now is better than a lot more later. But the cuts are coming at a price - weaker growth at the national level.

The clearest sign to date was a report Friday on U.S. gross domestic product for the final three months of 2010. The government lowered its growth estimate, pointing to larger-than-expected cuts by state and local governments. The report suggested that worsening state budget problems could hold back the recovery by putting more people out of work and reducing consumer spending."

TFT has solutions that would raise more than $1 billion in additional revenue for the state while still giving two-thirds of Tennesseans a tax cut = a double-whammy economic stimulus deal that provides a common-sense solution to the problems we face. This solution is simple:
Require corporations to pay their fair share in taxes - most have found loopholes to exploit, and often report no taxable income, despite receiving many benefits provided by the public.
Boost local businesses and their economic regeneration in our communities by requiring out-of-state corporations to follow the same rules and collect the sales tax.
Eliminate the tax on food.
Reduce the general sales tax.
Implement a personal income tax that makes the richest Tennesseans pay the same percentage of their income the rest of us are paying.

Will our elected officials continue to rob Tennessee taxpayers to line the pockets of mega corporations? Will they give us program cuts and layoffs in one hand and give millions to corporations with the other? Not if we stand tall, speak out and let them hear our voices supporting revenue with justice for all. Join TFT in advocating for our state and its future. Let your legislators know where you stand.