Monday, March 23, 2009

Bredesen spends his money before he gets it

As is typical for tax-and-spend types, Phil Bredesen has decided to spend his money before he gets it. Specifically, in presenting his budget, he is relying on expected proceeds from the repeal of the family owned non-corporate entity franchise & excise tax exemption (FONCE). Bredesen has already earmarked the money he wants to get from raising taxes on family-owned businesses. While I believe that the positive tax impact will be far less than what Bredesen expects, it is telling that he has already spent the money. It is reminiscent of the lottery winner who fantasizes about what he will do with the winnings and then goes out and blows a wad on some frivolity.

Now it sounds like Ron Ramsey and Jason Mumpower are about to cave to this pressure. Here's an idea - cut spending. When you have cut it until it hurts, cut some more. Don't cave in to Bredesen's bullying tactics.

Labels: , , , ,


Post a Comment

<< Home