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Paul's bill barely has a chance of making it out of committee, and zero chance of making it into law. That doesn't mean that we should relax our vigilance, and remember to keep bringing this issue up when he runs for re-election. The best way to stop this sort of effort is to ensure actions have consequences. Voters need to ensure that introducing bills like this consistently cost the primary sponsor his or her seat in the next cycle.
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Originally Posted by Bruins_Fan
Really, the whole package sounds like a **** sandwich for NH. What would it do? IMO, less people would move to NH (some will like this impact), thousands of shoppers from MA, ME and VT would probably no longer make their trips and instead spend their money outside NH. So even if tax revenues increase, NH businesses would be hurt. Honestly, don't see an upside.
That's a good point -- shifting the tax burden around would help some non-retail businesses with many employees and low-income residents, it would hurt all retail businesses and many businesses near our borders.
Really, the whole package sounds like a **** sandwich for NH. What would it do? IMO, less people would move to NH (some will like this impact), thousands of shoppers from MA, ME and VT would probably no longer make their trips and instead spend their money outside NH. So even if tax revenues increase, NH businesses would be hurt. Honestly, don't see an upside.
It's income tax, not sales tax- shouldn't affect out of state people coming in one bit, price of goods doesn't change.
That's arguably one of the advantages of income tax, you can keep other taxes low.
Well that's laughable. Just lookat states like NY and CA to name a couple ...very high taxes accross the board.
Because of Proposition 13 California has a low average / effective property tax rate. Property taxes can only go up 2% per year, regardless of property value, so even though the stated property tax rate is relatively high, only people who have bought their home recently pay that much. You can have two similarly valued homes, side by side, where one pays <$1K in property tax and the other pays $20k, because of how long they've owned their houses.
California is very dependent on income taxes, which decrease significantly whenever there's a recession, leading to pretty dramatic revisions to budgets. This is a good situation to avoid.
Well that's laughable. Just lookat states like NY and CA to name a couple ...very high taxes accross the board.
Because they *want* high taxes across the board to pay for services.
One type of tax doesn't have an advantage over another for keeping things low, though. If you gotta raise taxes a little to balance your budget, one or the other is fine.
NH residents could move to MA, ME or VT if income taxes didn't matter to them.
Wait, that's exactly why residents choose to live in NH (and not MA, ME, or VT)!
And yet over 107,000 NH residents (almost the population of Manchester) go out of state to work and pay both NH real estate and other state income taxes.
And yet over 107,000 NH residents (almost the population of Manchester) go out of state to work and pay both NH real estate and other state income taxes.
And how many of those came from out of state to begin with?
Besides, that makes a small fraction of the state, that still leaves roughly 1.2 million people.
And how many of those came from out of state to begin with?
Besides, that makes a small fraction of the state, that still leaves roughly 1.2 million people.
I'm sure many did. IMHO, 9% of the population going out of state to work is quite high. Only MD is higher as many work in DC.
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TIL: Paul Henle is a former real estate agent
