New Hampshire's New (Proposed) Income Tax - Granite Grok

New Hampshire’s New (Proposed) Income Tax

taxesThe latest attempt to impose an income tax on New Hampshire comes hidden under the veil of the “how could anyone but a cold-hearted bastard vote against” HB HB628, AN ACT relative to a family and medical leave insurance program.

Skip has done most of the heavy lifting here, here, and here, but there is another excellent resource on this legislation at that I wanted to excerpt as well.

Len Turcotte itemizes some issues and explains the lack of actual need to reveal the fraud being perpetrated by the legislature.

1) Family Leave insurance plans currently exist in the private marketplace and are readily available to employers and employees desiring them.
2) As originally introduced, this bill would have created a new 0.5% tax on income disguised as a “premium”; and as amended, it creates another financially unsustainable social program that will likely require a taxpayer bailout in short order.
3) At its peak, the program requires the addition of 45 new State Employees at an annual cost of 4.1 million dollars or the equivalent of almost $100,000 per added employee; and it will take nearly 16,000 private-sector employees opting into the scheme just to cover the administration costs.
4) The bill is not needed, it adds further bureaucracy, it is ill-thought out, and contains multiple, glaring deficiencies.

Do yourself a favor and read the rest of his inciteful words. Then reach out to your legislators and tell them to kill the income tax hiding in a so-called solution to a problem that doesn’t exist.