Monday, October 15, 2012

Wealthy Nashvillians cash in on law meant for farmers

The Tennessean, Oct 14, 2012

This is hardly farm country. But Bredesen and several neighbors are cashing in on a state law intended to protect farms, forests and open space from encroaching development. Because the former governor cuts hay on a portion of his $13-million, 89-acre estate, and grosses at least $1,500 a year in farm income, he saves $62,000 a year in local property taxes. (link)
Comment: I don't condemn former Governor Bredesen for "cashing in" on the law intended to protect open spaces from development.  I think no tax payer should pay a cent more in taxes than they are legally required to pay. A legal deduction on your income tax is not a "loophole."  If the law allows you to put your estate into a conservation easement and avoid $62,000 in local property tax, then I don't condemn you for doing it.  The problem is not with those who legally avoid paying taxes, the problem is with the code that permits it.

I also feel pretty much the same way about people who get food stamps or other forms of public assistance. If they are legally entitled to a form of public assistance, and are not committing fraud to get it, then I do not condemn them for getting it.  I recognize that accepting welfare corrupts one's character and creates a dependency and a sense of entitlement.  I admire those who refuse the assistance, but I don't condemn those who take.  The fault is with the program, not the recipient.

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