YOUR COMMENTS

Tell me something. If rich people aren't paying their fair share of New Hampshire taxes (and they aren't. That's why so many are here), then why should we care if they leave the state?
- Gary, Hampton

Since when did the Union Leader's editorial page become an unpaid advertisement for Florida?

Florida is the 5th most dangerous state in the country; New Hampshire is the safest. Florida is one of five least healthy states in the country; NH is the second healthiest. We are also regularly judged to be the most livable state in the nation.

The UL wants us to believe that wealthy people will give up all that our state has to offer in terms of culture, community, and natural beauty and move to Florida so that some day in the distant future their heirs can inherit an extra 3% of their estates? This would be laughable if it wasn't such an insult to New Hampshire and the people who make this state so great.
- Michael Marsh, Greenland

To those who wish to raise taxes on investors, keep in mind the golden rule of capitalism:
Capital always goes where it is best treated. Folks, we need to take a long hard look at states where democrats have been in control for decades, namely California and New York. If you want your state's finances, and confiscatory taxes to resemble those states, just keep voting in democrats to your local legislature. The democratic party has shown itself to be absolutely criminally irresponsible in the way they run those state's finances. Don't forget Michigan (think Detroit) and New Jersey (anyone been to Newark lately), either.
- Kethivin, Campton

Normally, I enjoy and partake in facetiousness. Here we have claimed that some mysterious effort by Democrats to pay for the cost of state government might influence the behavior of rich people, particularly retired rich people. For average retirees, NH is already about as regressive a place as you can imagine. If you receive income from investments that is subject to what any normal person would call an income tax. If the rest of your wealth is in your house, it is subjected to the property tax. For the very wealthy, this is less of a problem as their wealth is less in their homes than the rest of us. Nice flim flam argument though. I expected no less.
- Still Robert, Deerfield

Sam in Lebanon, you are right that the additional amount isn't bad, but I have a question for you.

If your employer cut your salary (income) by 15%, could you spend the 0.30% MORE money than you did last year?
- Mike, Londonderry

Florida is not that low on taxes. They have a relative high property tax as well as many other smaller taxes and fees. They also have a sales tax of 6-7% depening on what county you live in. But the weather is great and I went to a few Red Sox Spring Training games.

As far as the taxes, I am agianst any new or increase in taxes especially in this type of economy. However, the estate tax if written correctly would be a smart idea by the state. Since it appears that the Federal Government is going to keep the estate tax then the State should have one. The Federal Estate Tax gives you a deduction for any State Estate taxes you pay up to a certain point. The State should maximize this amount and collect the money instead of having it go to Washington.

My only problem is that I would not trust to democrats in power to write this bill correctly as to make sure you only pay the amoun that you can deduct for federal and this tax will be effect while the Federal Estate Tax is in effect.
- john, Fort Myers, FL

I'm not a fan of the Representatives proposed budget. But, if you want to do a relative tax and cost of living comparison between NH and Florida, you need to include Florida sales taxes, as well as the skyrocketing cost of property insurance there.

Come on Union Leader, there are real reasons to oppose Smith's proposed budget, along the lines you suggest.
- Ditmar, Hollis

Great editorial. The capital gains tax is a pernicious, anti-growth tax that would immeasurably harm the NH economy. In the competition for small business and startup placement, it would destroy the regional New Hampshire Advantage.

The idea that the legislature would even consider it leads me to believe that they either don't understand economics, or are using the issue as a stalking horse for some other tax/revenue source.
- Greg Moore, Manchester

A $31 million increase in state spending of $11 billion equals a 0.28% increase in spending - not bad IMHO. As for the taxes - this is what you get when you take a pledge against broad based taxes.

But I'm moving to Florida without or without taxes. This past winter was a killer!
- Sam, Lebanon

Before our moonbat bloggers arrive to call the capital-gains tax a tax on "the rich"--a mistake you made in a headline in yesterday's print edition--let's note that we don't tax wealth. We can't tax wealth (except real estate) because it moves too fluidly, especially in the Information Age, and if we drive away our capital, we will be quickly ruined. Not even Obama and Barney tax the people on top. They tax the people on their way up.
- Spike, Brentwood NH

Why is anyone allowing this Rep. Smith anywhere anything financial?

This is the woman who swore in 2007 that the budget then was balanced - it was not.

She swore that revenue projections were "in line" with economic indicators - before the recession hit we had a deficit of $50M.

She attacked the late Mike Whalley because Mike said the rate of growth exceeded 15% - it was closer to 18%.

Now, because of either her sheer incompetence or utter dishonesty, she is soaking even more people and chanting the mantra that "everyone must suffer."

How about Marjorie and her band of happy spenders "suffer" by losing their access to the state's finances? They have already proven they have no idea of what they are doing.
- William Simpson, Concord, NH

How will the proposed NH capital gains tax treat capital loss carryovers? Will your NH capital gains income be the same as your Federal or will NH ignore Federal capital loss carryovers from prior years? If the former, then NH will not collect a dime for years because of capital losses from the dot com bubble and the current market crash. If the latter, then I'll be a Nevada resident before the end of the calendar year.

Nevada is even better than Florida - no personal or business income taxes, great weather, and now really low real estate prices.
- Chris, Salem