Tax Loophole's for the Rich

In the article Tennessee Real Estate Tycoons Enjoy $45 Million Tax Loophole While State Revenues Crater by Jeff Woods, he goes on to say that tax breaks to rich real-estate tycoons, that both the Republicans and Democrats fought to keep, protect the rich while threatening the sick and needy. Gov. Phil Bredesen claims that the budget shortfall will cause reductions to be made in our universities, in Medicaid, and there’s even talk of closing a prison. Already, about a thousand mentally ill people have been taken off of TennCare. He further explains that the rich can afford to buy influential lobbyists and pay large sums of campaign cash to keep these loopholes in place. Bresden calls it an “outrageous loophole” and tried to close it. Jack May, the developer who owns Belle Meade Plaza and Belle Meade Office Park, is the largest one to profit from these loopholes. His new best friend is state Rep. Gary Odom, who was responsible for killing the governor Bredesen’s attempt to close the loophole. No wonder people are getting angry. It’s hard to believe that these rich tycoons can sleep at night when there are people that are being denied health care and losing their jobs. I applaud Gov. Bredesen for trying to fight this and I hope that more like him take a stand against loopholes that make the rich richer and the poor poorer. I really think that with all of the publicity concerning issues such as these,that more and more people are going to pay closer attention to who they are voting for and become more knowledgable when it comes time to vote.

http://www.nashvillescene.com/2008-12-04/news/tennessee-real-estate-tycoons-enjoy-45-million-tax-loophole-while-state-revenues-crater/