Posted on 04/01/2006 5:09:27 PM PST by Graybeard58
N ew Hampshire had New England's lowest per capita taxes, and it was the only state in the union whose residents didn't see a tax increase in 2005.
Nationally, states collected a total of $649 billion in taxes in the 2005 budget year, which ended in June for most states, according to a report yesterday by the Census Bureau.
That's $2,192 per person.
The numbers include only taxes collected by states. They do not include federal or local taxes, which can greatly increase a person's taxes.
All states collected more taxes in 2005 than they did in 2004. And every state but one collected more per person. New Hampshire collected the same both years, $1,544.
California collected the most money, more than $98 billion.
Vermont collected the most per person, $3,600.
South Dakota collected the least overall, at a little more than $1 billion, and the least per person, $1,430.
In northern New England, collections grew from $1.77 billion to $2.4 billion in Vermont; $2.87 billion to $3.1 billion in Maine; and $2 billion to $2.2 billion in New Hampshire.
New Hampshire had the region's lowest taxes per person at $1,544, followed by Maine at $2,323. Vermont's per-capita taxes of $3,600 topped Massachusetts and Connecticut, which were $2,815 and $3,300 respectfully.
Overall, state tax receipts jumped nearly 10 percent last year as a strong national economy increased individual earnings and corporate profits.
Most states showed increases without raising tax rates, meaning the gains were caused primarily by an expanding economy, said Corina Eckl, fiscal program director for the National Conference of State Legislatures.
"It's absolutely attributable to an improving national economy,"Eckl said. "Very few, very modest tax changes happened last year."
Unlike New Hampshire, which collects much of its revenue from business and meals taxes, most states get nearly half their tax revenue from sales taxes, which went up 6 percent from 2004 to 2005. Individual income taxes increased by nearly 13 percent, and corporate income taxes shot up 28 percent. However, corporate taxes account for little state revenue, about 6 percent, nationally.
"Individual income taxes are the big driver," said Chris Edwards, director of tax policy at the Cato Institute, a Washington think tank. "The stock market is up, and people are earning more money."
Eckl said states also were helped by a two-year, $20 billion package of federal aid to states approved in 2003. The money helped states overcome budget shortfalls stemming from the economic downturn earlier in the decade, she said.
Eckl said most state budgets have recovered after several years of budget shortfalls. States across the country had to cut programs, increase tax rates and scramble for quick budget fixes after the national economy slumped earlier in the decade.
Today, many states are expanding programs, putting money away for later or considering tax cuts, Eckl said.
Every state but Vermont has a constitutional requirement to balance its budget, which leads many states to save money as insurance against future downturns.
Nationally, changes in state tax laws accounted for less than 1 percent of increased tax revenue, said Bert Waisanen, a fiscal analyst at the National Conference of State Legislatures.
Figures.
And spent how many billions more than that?
Yep, there are tax payers and there are tax recievers.
Watch what happens to the tax laws there when this process is complete!
My uncle drove to New Hampshire when he bought a new computer for tax reasons.
How's the new computer, GSC?
Can't we expect taxes to increase? Our $9 trillion dollar national debt, documented here:
http://www.publicdebt.treas.gov/opd/opdpenny.htm
already gives us a "public debt" of nearly 70% of our nation's GDP as this documents:
https://www.cia.gov/cia/publications/factbook/geos/us.html
In contrast, Mexico's percentage is merely 18% and their GDP per capita is only 4 times lower (and it's much cheaper to live there).
Worse still, baby boomers begin retiring next year in the USA (while other countries in the hemisphere have much younger populations and in some cases lower taxes).
You have copied and pasted this same reply, word for word on three threads so far today, you are free to move to one of those countries that have lower taxes if you want.
If thugs set up camp in your neighborhood and hit you up for protection money, and you documented it for the world to see and I responded by saying you're free to surrender to them and move elsewhere, how would you feel?
"The people have the government that they deserve."
-Ben Franklin
Your comment #9 has nothing to do with this thread topic, which is about state taxes and the fact that you posted the same thing word for word in the space of 4 minutes to 3 different threads says you are spamming.
1) My post was individually tailored depending on the thread I found that was relevant to New Hampshire and taxes. There were three, and two of which were strongly related and required no individualized tailoring. Therefore you have misstated things about my 3 postings that one can easily demonstrate as being libelous.
2) You claim my post had nothing to do with this particular thread. It is as if the following passage wasn't included in the underlying article listed above:
>>>Eckl said states also were helped by a two-year, $20 billion package of federal aid to states approved in 2003. The money helped states overcome budget shortfalls stemming from the economic downturn earlier in the decade, she said. <<<
I have helped demonstrate that states like NH can't count on such federal aid in the future. Even the lack of a state income tax isn't sufficient protection from upcoming financial woes imposed at the federal level.
3) Rather than engage in uncalled for abuse of well-meaning patriots in these forums, why not commit to return your social security checks for the good of our country? Your answer helps expose your underlying intentions.
4) Before pointing your finger at others for allegedly spamming, why not look more closely at whom three of your other fingers are pointing? We can already see what you should be more closely observing, especially before harassing others who actually post meaningful contributions.
5) Your initial offensive post shows that you fail to realize that the USA is the only industrialized nation that taxes its people even when they live abroad. You are welcome to return the tax dollars involuntarily taken from us to finance your education of decades ago. Even younger people like me STILL have to pay interest on the debt incurred to educate you. Where is our dividend? Instead we get publicly abused by you in libelous ways.
spammer
Is there an actual point you have to offer that's shrouded within your unwarranted, libelous insults?
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