You, the taxpayers of Tennessee, helped give away nearly $1 billion in tax credits to corporations who set up shop here last year. State law, as it turns out, forbids you from finding out exactly what kind of return you’re getting on your investment. In other words, even though the money came out of your wallet, you may not know how any one corporation spent it. For this, you can thank Tennessee’s confidentiality laws. Mark Cunningham, spokesman for the Nashville-based Beacon Center of Tennessee, a free market think tank, said state officials hide behind them. “Beacon wants the books to be completely open when it comes to corporate handouts,” Cunningham said. “If you are getting money from the taxpayers then we should know how many jobs you are creating and what that money is being used for. If you are taking our money then you don’t get to hide behind these walls, in our opinion.” When there’s more transparency with these tax credits then there’s more clarity. When there’s more clarity about what, precisely, corporations do with this money then there’s more likelihood the taxpayers will dislike it, Cunningham said. The state’s powers that be, of course, bestow these tax…
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