The stark reality is that our politicians in Vermont are already spending money well beyond our tax capacity. But the really scary thing is, they’re not done. Not by a long shot.
Drew Cline pointedly raises the question of which state is better off: low tax New Hampshire or high tax Vermont. That’s a pretty easy call.
Vermont has the 4th highest property tax rate in the country, at 1.76%, according to research from the Tax Foundation. We are second only to New Hampshire among the New England states, which has a property tax rate of 1.89%.
Mr. Varney is correct to flag this program as another entitlement that he feels will never be repealed. However, it will do a lot of damage in the meantime.
Two aspects of the headline piqued my interest: just how did IRS personal income tax files get into the hands of the press, and second, how do the rich avoid income taxes?
Biden has proposed several tax increases to fund his several trillion dollars in new spending, most of which has not yet passed through Congress. Those include taxing long-term capital gains as normal income for those making more than $1 million plus an increase in the top marginal tax rate from 37% to 39.6%.
In what is believed to be the first time a carbon tax has been put to a national vote, upscale urban regions including Geneva, Basel and Zurich voted in favor of the CO2 law, but 51.6 percent of voters, and 21 of the country’s 26 cantons, said “get out of here with your carbon tax.”
Property tax revenues collected per capita in New Hampshire amounted to $3,362 in fiscal year 2018, the second highest level among the 50 states, according to a new Tax Foundation analysis. Vermont property taxes amounted to $2,738.
After a year filled mostly with negative year-over-year comparables for tax revenue, New Hampshire kicked off 2021 back on the plus side of the equation, according to a new study.
The legislation, which was approved by the state Senate last week, would allow local governments to offer tax breaks for housing developments anywhere within their borders, if a third or more of the units qualify as affordable housing.
New Hampshire lawmakers are moving to raise the minimum amount under which businesses are required to file returns for the state’s business profits tax. A bipartisan proposal would increase the threshold for paying the state’s business profits tax from $50,000 to $92,000 beginning on July 1.
Vermont Independent Sen. Bernie Sanders ripped Democratic efforts to reinstate state and local tax deductions, saying that the move sends a “terrible, terrible message.”