Not stealing ( taxing ) from people is a good thing since its private wealth that grows the economy

I'm sorry, but you don't know what you're talking about. Let me say this for the 139373th time: TRICKLE DOWN ECONOMICS DOESN'T WORK. IT NEVER DID. Businesses aren't struggling because of the state tax code, they're struggling because they can't retain staff due to cost of housing, living and childcare in NH being out of control. This is literally a tax that doesn't impact anyone who isn't rich and currently accounts for roughly $127,000,000 of our state budget. How you think they're gonna make up that budget difference, a fucking bake sale? People can't figure out why the addiction problem is out of control in NH, can't figure out why the mental health care system is so bad, why crime and homelessness is so bad. It's because the state doesn't spend enough on those things and never have. Due to this those who provide care and are actually trying to make things better in those areas can't keep staff because they can't afford to pay them and those things just got progressively worse until it was a mess...and you think the solution is to generate LESS money? Stupid with a capital S. Rich people don't grow shit in this state.

> TRICKLE DOWN ECONOMICS DOESN'T WORK.

Yes it does

Wealth is property and the amount accumulated by one person is not the business of any other person and it is only in jail that wealth fairly distributed

Nor is wealth hoarded. it does one or more of 3 things

The rich will place their wealth in the banks which is then loaned out by the banks which in turn creates new jobs

The wealthy will invest their wealth in some other industry through stocks/equities which again will create new jobs

The wealthy will spend their wealth on their own consumption which in turn also creates new jobs

That's is the trickle down theory and it works fine

THE PROBLEM THE LEFT WHINES ABOUT BUT DOES NOT UNDERSTAND, is that government has inserted itself because it thinks it knows better then the market where wealth should flow.

Through policies of theft ( taxation ), prohibition, state granted monopolies, subsdies, and regulations, it has stifled the flow of wealth and thus the poor suffer for it

Wall of text

https://www.businessinsider.com/history-of-tax-rates

Learn up. Unless business insider is too left leaning for you, smart guy.

You both need to calm down

The US had schools, Paved Roads, Army, Navy, Colleges, and other services that existed before the Income Tax [ 1913 ] AND Corporate Tax [1909 ]

Taxes [ theft ] only exist to fund policies to push a nation into socialism [ serfdom ]

https://www.aei.org/wp-content/uploads/2017/04/Taxed.jpg?x91208

https://www.youtube.com/watch?v=9sgNDgqXzA0

https://www.youtube.com/watch?v=M8nTVj61Yv8

I'll give you a B+. You forget to throw climate change in there.

People that invest in business and take the risk that the investment might never yield anything ought to be able to earn money back without the government helping itself to it first. Same goes for the tiny amount of interest you can earn by letting a bank hold your money.

The end of the article had it right, this is just identity politics, and it's wrong.

Ah yes, the magical millionaire investor needs their money because of all that "risk" they take... expect those risks are already mitigated tremendously by our already existing tax laws. This isn't some new thing that's been happening with this specific tax code. It's been in place in NH for 100 years. 100 years. Suddenly it's a big scam though, huh? Sorry, I call BS.

Remember WAAAY back in 2018 when the richest Americans got a historical level of tax breaks with the new GOP tax plan? How'd that work? Lots of new businesses pop up around the country, lots of new hires? Nope and nope. A temporary boom brought on predominantly through stock buybacks, which is what most of the richest corporations used that extra money for. The article is also pretty clear that tax breaks do not and have not in recent history had any impact on local economies. They just don't. All this will do is hurt. But hey, defund our government, send tons of money to private schools and lets all watch our property taxes go even higher. We have been working hard toward becoming Alabama north, this is just the next step. Mark my words: this will hurt us long term. Badly. Downvote all you want. We'll chat in a few years.

>A temporary boom brought on predominantly through stock buybacks, which is what most of the richest corporations used that extra money for.

What does that have to do with NH? How many of the "richest corporations" are headquartered here?

​

>But hey, defund our government, send tons of money to private schools and lets all watch our property taxes go even higher.

Property taxes going higher is the opposite of defunding the government. Your own talking points contradict themselves.

Yay

2021: Successfully created a phase out plan for the I&D tax

2023: Hey let's scratch that and raise taxes

Asshats

I'm far from wealthy. It was nice this year writing a smaller check as we're on the 4% year of the phase out.

Did you really make a post using a URL as the title?

We need to keep this bill.

Goddamn right I did and I'll do it again. Ain't got time for a cover letter and shit.

Apparently the bill has 11 sponsors, all democrats. Given the makeup of the legislature and who is governor, I'd guess this is DOA for this year.

In terms of details, it sets the rate at 4% after this year and exempts $50k of income per person (instead of $2400 under old rules).

Given the high exemption (I guess $100k for couple), I wonder how much revenue this version of the tax would actually raise.

https://legiscan.com/NH/text/SB261/2023

>1 Repeal. 2021, 91:89-100 relative to the phase out and repeal of rate of taxation of incomes, is repealed.
>
>2 Taxation of Incomes; Rate RSA 77:1 is repealed and reenacted to read as follows:
>
>77:1 Rate.
>
>I. The annual tax upon incomes shall be levied at the rate of 5 percent for all taxable periods ending on or before December 31, 2023.
>
>II. The annual tax upon incomes shall be levied at the rate of 4 percent for all taxable periods ending after December 31, 2023.
>
>3 Taxation of Incomes; Who Taxable. Amend RSA 77:3, I to read as follows:
>
>I. Taxable income is that income received from interest and dividends during the tax year prior to the assessment date by:
>
>(a) Individuals who are inhabitants or residents of this state for any part of the taxable year whose gross interest and dividend income from all sources, including income from a qualified investment company pursuant to RSA 77:4, V, exceeds [$2,400] $50,000 during that taxable period.
>
>(b) Partnerships, limited liability companies, and associations, the beneficial interest in which is not represented by transferable shares, whose gross interest and dividend income from all sources exceeds [$2,400] $50,000 during the taxable year, but not including a qualified investment company as defined in RSA 77-A:1, XXI, or a trust comprising a part of an employee benefit plan, as defined in the Employee Retirement Income Security Act of 1974, section 3.
>
>(c) Executors deriving their appointment from a court of this state whose gross interest and dividend income from all sources exceeds [$2,400] $50,000 during the taxable year.
>
>4 Effective Date. This act shall take effect upon its passage.

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I paid tax on the money earned to invest in a business that provides jobs. It will also fund my retirement so I am not a burden on the state.

I think it would be better to have a higher threshold so lower income taxpayers don’t have to pay, but I don’t agree with an outright repeal. So I’d like to see it end somewhere in the middle, maybe leave it at 4% and 50k and reevaluate after a period of time to see how it impacts the state.

I would argue reversing the plan to get rid of this tax hurts the middle class more than the rich considering it impacts everyone making more than $2,400 in interest/dividends.

So.... taxes are something necessary to 'get even' with the successful?

You're drooling with envy.