by NH Senator Ted Gatsas
Fosters
Trial balloons for an income tax: Budget woes and our economic edge
“Let’s examine the trial balloons. Currently the State of New Hampshire has an interest and dividends tax of 5 percent; the House has added to that a 5 percent tax on capital gains, an 8 percent death tax, and a 10 percent winnings tax. The interest earned on your savings account, your capital gains, your inheritance and gambling winnings are income and therefore to tax any of them is an income tax.
Let’s call a spade a spade and admit that the State of New Hampshire is taking a backdoor approach and instituting an income tax.”