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Old 12-27-2016, 11:08 AM
 
Location: West Madison^WMHT
3,171 posts, read 2,729,024 times
Reputation: 3819

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NHPR says rep. Paul Henle (D-Concord) is backing the New Hampshire Tax Shift, pushing for a 3.95% income tax on residents. See also Union-Leader, Another View -- Paul Henle: A tax shift would improve New Hampshire's economy

While the claim is a flat statewide income tax will make taxation more fair and reduce property taxes, we should look carefully at what happened in Maine, Vermont and Connecticut when they used those same claims to pass a broad-based income tax -- those 3 states all rank in the top 5 for total state tax burden, the only states extracting more revenue from their citizens are New York and Hawaii.

The NHPB website has a simple calculator to determine how much your personal tax burden would increase under the NH tax shift.

Quote:
Originally Posted by NHPR
We are a very frugal state, says Henle. We have small government here in New Hampshire, and we want to have small government. My bill does nothing to change that.
Paul is dangerously wrong here.

Giving state government more control over how money flows has drastically decreased the power of the individual towns in ME/VT/CT. When local government loses control over how tax money is collected and spent, it becomes more difficult to rein in wasteful spending and tax rates spiral ever higher.
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Old 12-27-2016, 11:40 AM
 
1,204 posts, read 1,363,200 times
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I suspect he'll be drawn and quartered before an income tax passes!
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Old 12-27-2016, 12:35 PM
 
Location: Behind You!
1,949 posts, read 3,316,794 times
Reputation: 2663
Quote:
[Originally Posted by NHPR
We are a very frugal state,” says Henle. “We have small government here in New Hampshire, and we want to have small government. My bill does nothing to change that.”
I'd seriously like to know what the textbook definition of "small government" is to a Democrat.
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Old 12-27-2016, 12:55 PM
 
4,680 posts, read 4,792,456 times
Reputation: 4794
New Hampshire will have a balanced budget just as any other year.
It is the law.


And as previous years, all the legislature has to do is borrow the money to balance the budget.


Voila. Voodoo economics.
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Old 12-27-2016, 01:07 PM
 
Location: West Madison^WMHT
3,171 posts, read 2,729,024 times
Reputation: 3819
Thumbs down Progressive's end game: state-level wealth redistribution through Earned Income Tax Credit payouts

I do agree with rep Henle that New Hampshire would benefit from reducing or eliminating the Business Enterprise Tax (BET) and the Business Profits Tax (BPT). I disagree on how to replace the $267 million in BET and $213 million in BPT revenues.

I also strongly disagree with his proposal to use state income tax to implement wealth redistribution through Earned Income Tax Credit Payments.
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Old 12-27-2016, 03:03 PM
 
Location: Currently in CT but have recently started construction for our retirement home in NH
262 posts, read 200,710 times
Reputation: 655
As pointed out, once the gov gets their hands on any new source of revenue (ie: income tax) they will never stop exploiting it. I am currently living it in CT (see below) and it is the main reason we are leaving this state as soon as we can.


House & vehicles (even farm equipment that is not registered): $29.35/$1000 of assessed value
Income (includes payroll, pension, Social Security, interest, dividend): varies, but average working couple is 6%
Sales (just about everything including services): 6.35% with an increase to 7-7.75% "luxury tax" on many items
Gas: 37.51 cents/gal compared to NH 28.83


When these taxes were first implemented the rates were low and in some cases were intended to be "temporary," but they never go away.
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Old 12-27-2016, 03:04 PM
 
2,664 posts, read 1,260,889 times
Reputation: 2513
The dream of the left. Let us not forget the party of the Govenor and legislature.

Why worry about such an outlandish proposal that's out of touch with today's political environment.

And as for the benefit of eliminating the BET anbd BPT, yes, the companies will benefit. Will we, the citizens? Very doubtful. What will the companies do, hire more workers when our unemployment is so low? Or use the extra income to pay off owners and shareholders, many of whom are out of state? IOW, why send our money to another state?
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Old 12-27-2016, 05:49 PM
 
Location: a little bit of everywhere
74 posts, read 246,048 times
Reputation: 69
The claim that it will be used to lower property taxes is a joke. they will remain the same, it's the nature of government.
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Old 12-28-2016, 09:48 AM
 
3,115 posts, read 2,613,199 times
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What Henle is proposing is not strictly speaking a flat tax. There are deductions and exemptions and credits. NH does have an income tax now of 5% flat on interest and dividends but not capital gains. Henle's tax proposal would subject all income to the same rate.


NH does need to diversify its sources of revenue but Henle's tax rate is much too high. I would suggest a true flat tax rate of 2.5% and a statewide sales tax rate of 4% to include services tax now at 9%. The Business Enterprise Tax would be eliminated. Profits from sole proprietorship businesses would be reported on the regular income tax form and be taxed at 2.5%.


New revenue to be used to reduce property taxes. The temptation to use the revenue to establish new programs and expand old ones will be great, but that presupposes that the proclivity of the political class can be held in check.
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Old 12-28-2016, 09:58 AM
 
Location: Southern NH
211 posts, read 231,430 times
Reputation: 335
Lovely how all the posts here paint all Democrats, Progressives, and "the left" as being in favor of an income tax. I can assure you that is not the case.
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