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Originally Posted by Airwaves
Lucky2Bhere wrote:
If NH had an Income tax then NH residents working in Mass would pay that money to NH. It would probably be less than they pay in Mass and it would benefit the state they actually live in!
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Not quite. I pay state income taxes to MA because I work there. If NH sets a state income tax at the same rate (I think it is 5.25%) as MA, I would pay all of it to NH. And I'd much happier to do so. But if NH set a rate lower than MA, say 4%, I would pay 4% to NH and then the difference between the NH rate and the MA rate (in this example 1.25%) to MA. So I wouldn't save a cent. And does anyone think the current Concord Crowd would lower taxes, or just find more ways to spend the revenue. For an answer check out the latest state budget. As Ronald Reagan famously stated, the nine most terrifying words in the English language are, "I'm from the government and I'm here to help."