Hey ScubaJay, as long as I got your attenton here, let me ask you a different but related question. You mentioned how the state employee pension system has problems because it is low on the dough. Plus, many public schools and county nursing homes across the state are also short of cash. as well.
As a tractor-trailer truck driver, I like to think about the NH tax system when I'm not shifting gears, or making tight right hand turns and looking in the mirrors at the back corner of the trailer. It has crossed my mind that the New Hampshire taxing system is basically a system that shelters the bigger earners from paying their fair share because NH has no state income tax and no state short or long term capital gains tax.
As a Laconia firefighter, let me run this new tax plan past you.
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Representative James Kennedy D-Exeter has a bill that would do the following.
8% cap on property tax
repeal interest & dividend tax
3.5% income tax
exempt $22,000 for single tax payer
exempt additional $22,000 for single parent or married adult.
Rep Kennedy says it would capture a billion dollars a year loss from residents of Maine, Massachusetts, & Vermont who work in New Hampshire but pay taxes in their native state.
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How would this bill effect you?
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Hey, is this a good tax idea , or this this a good idea, or what?
I like the one billion bucks capture, the two $22,000 exemptions, and the 8% annual property tax cap. And, it has the big earners, who have been getting a longtime free ride, finally paying their fair share!