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I can find no state where instituting income and/or sales tax resulted in a long-term reduction in property taxes?
Vermont has a steep "progressive" income tax, a sales tax, and also one of the highest property tax rates in the country. PA has a simple income and sales tax, but these extra taxes don't seem to have reduced PA property taxes.
NH will need to wait until Gov. Maggie "I don't support the decriminalization of marijuana" Hassan(D) is out of office
The first NE state to go full Colorado will reap the big bucks... for a little while.
Once a populous state like Massachusetts or Connecticut legalizes, they'll reap the majority of tax revenue (unless they make huge mistakes in setting their retail rules and tax rates). So NH might get a year or two of windfall by being an early adopter, then the bulk of "pot tourism" and sales will happen in more populous NE states.
[quote=PressHerald]If Vermont legalized before any other state in the Northeast, “marijuana tourism and illicit exports could be substantial and could, in theory, put Vermont’s annual tax revenues in the hundreds of millions,” the report said. “Indeed, because legal marijuana can flow across borders in either direction, Vermont’s prospects of deriving considerable tax revenue even from its own residents would become much less promising if one of its immediate neighbors were to legalize with low taxes,” the report said.p/quote]So just like booze, there's money to be made by keeping sin taxes low.
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Originally Posted by miu
I wish that NH would legalize marijuana and use the resulting tax revenues to fund the schools and maintain our roads.
If Andrew Hemingway had won the Republican primary, the laws would likely have changed by now. Instead, NH will need to wait until Gov. Maggie "I don't support the decriminalization of marijuana" Hassan(D) is out of office before we see anything like HB 1610 make it into law.
We already tax alcohol sales through the State store system so why not add selling pot to the system. I do not use either any more so I could care less.
One of the reason I proposed an income tax with a 90th percentile deductible is there is no way in hell, except winning the lottery at witch point I will not care, I will ever get to the 90th percentile income level. Why not tax the rich? After all they do have most of the money.
We already tax alcohol sales through the State store system so why not add selling pot to the system. I do not use either any more so I could care less.
One of the reason I proposed an income tax with a 90th percentile deductible is there is no way in hell, except winning the lottery at witch point I will not care, I will ever get to the 90th percentile income level. Why not tax the rich? After all they do have most of the money.
Sure, that makes sense.. why not have a higher tax rater for those that make a dollar more an hr then someone else too. I mean that makes sense too right?
Funny thing is I keep hearing lets tax the rich more, but nowhere do I hear lets make government more accountable on how they spend the taxpayers money
We already tax alcohol sales through the State store system so why not add selling pot to the system. I do not use either any more so I could care less.
One of the reason I proposed an income tax with a 90th percentile deductible is there is no way in hell, except winning the lottery at witch point I will not care, I will ever get to the 90th percentile income level. Why not tax the rich? After all they do have most of the money.
What an attitude..........bring on any new tax as long as it doesn't impact me.
how about shrinking govt. and making teachers pay for their retirement like most everyone else... we have one of the worst educational systems on the planet yet we pay much more per pupil.
limit real estate taxes to 1% of property value and then make up any shortfall with a tax that impacts everyone - not just property owners.
limit real estate taxes to 1% of property value and then make up any shortfall with a tax that impacts everyone - not just property owners.
Be careful what you ask for. The problem with that is once the state gets into your pocket with a new tax it's easy for the politicians to continuously and slowly raise the rates with time. I've lived it in CT, where they initiated a low income tax with the promise of lowering the sales and property taxes. Fast forward to today and you'll see CT has property taxes as high (even higher in some towns) then NH, which not only includes the house and land (no current use breaks here), but also includes autos/farm equipment/trailers/boats/RV's and this applies even if the vehicle is not registered to drive on the road. Then add about 6% of income for an average couple (includes all forms of income including savings, pensions & SS), plus 6.35% on sales and 6.35% on services (add that to a home repair cost, major appliance or vehicle) and as an extra kicker, fuel cost are 20-30 cents/gal higher and you'll soon realize that NH is a real deal if you wish to live in the northeast.
I find it interesting that so many in NH complain about "outsiders'" moving into the state and try to change things, yet the same people what to change (for the worst) the tax structure. Believe it or not, some of us are moving there because we like it just the way it is.
Last edited by sailor_lou; 07-16-2016 at 10:31 AM..
limit real estate taxes to 1% of property value and then make up any shortfall with a tax that impacts everyone - not just property owners.
That'd be great, if I had any faith at all that the state would stick to a promise to limit real estate taxes to 1% of property value. Vermont made similar promises back in 1969, look how well that worked out for Vermonters.
What we need is to come up with ways to get people from out of state to visit our state, spend money, and then go home. If that means promoting marijuana tourism and selling THC vape fluid at the state liquor stores, then so be it.
What we need is to come up with ways to get people from out of state to visit our state, spend money, and then go home. If that means promoting marijuana tourism and selling THC vape fluid at the state liquor stores, then so be it.
and lower school spending... by which i mean more $$ to kids and less to retirement benefits for teachers.
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NH will need to wait until Gov. Maggie "I don't support the decriminalization of marijuana" Hassan(D) is out of office
We don't need new taxes, we need less spending.
