Naifeh Tax Plan Calculator
There is a hidden automatic tax increase built into the income tax proposed by House Speaker Jimmy Naifeh and up for a vote Wednesday in the state legislature. As people get raises to offset the rising cost of living, their purchasing power remains the same but they will pay a higher percentage of their income in taxes to state under Naifeh's income tax plan. Under the Naifeh plan, the average Tennessean's tax burden could rise 17 times faster than their income over the next 20 years.

The Naifeh income tax raises itself automatically - and at a tremendous rate - and it happens even if the legislature does not vote to raise the tax rate.

For example, a single mom making $24,000 would pay nothing under the Naifeh plan in the first year, but 15 years from now if her income rises 3 percent per year to offset inflation, she'll be paying over $600 a year, and in 19 years she'll be paying over $800. And a couple with two kids making $45,000 would see their tax bill quadruple to over $2,000.

You can calculate the effect of the hidden tax increase on your finances by using this handy Naifeh income tax calculator, located on the web at TNTaxRevolt.org and at TaxFreeTennessee.com.

For more information on the hidden tax increase in Naifeh plan, Click Here.