Issue Position: Does NH Really Need An Income Tax?

Issue Position

Since the Claremont court decision, the Legislature has grappled with finding a long term solution to fund public education. I voted for (CACR26), which declares that it is the 'state's duty to assure an adequate education for all pupils in the state', because it placed the responsibility to solve the funding crisis squarely on the shoulders of the legislature, not the Supreme Court.

The statewide property tax that was passed last year was not an expansion to the property tax, but rather an equalized of that portion allocated to education. New Hampshire legislature also sent $220 million of new money back to the cities and towns. Because of this legislation, which I supported, 85% of the towns in New Hampshire actually saw a DECREASE in their property taxes. For example, Rindge's school taxes were lowered by 18% with a net effect on property taxes dropping by 12 1/2%.

New Hampshire does not need an income tax and I am opposed to it for several reasons: A 'Dedicated to Education' income tax, without a statewide property tax, would result in only 1/2 the money the school districts are now receiving from the state under the current statewide property tax law. A 4% income tax with generous personal deductions, (as supported by my opponent), will only generate 1/3 of the money necessary to fund public education.

* An Income Tax would actually HURT the elderly because not only does it maintain the current interest and dividends tax, it will also impose a tax on Capital Gains including, IRA's, Stocks, Senior's life Savings, the sale of a home.
* An Income Tax will also tax Pensions and Veteran's Benefits
* Young Families will inevitably be hurt by an Income Tax because it would cut into their Savings for both a down payment on their first home and/or for their child's College Education.
* The Income Tax would be devastating to the State's Economy. My opponent's plan would REMOVE our one unique economic engine and still continue to enforce the statewide property tax on Entrepreneurs and Small Businesses, hindering the CREATION of new jobs in New Hampshire.

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