News & Issues

Democrats Vote for Workers and Taxpayers

Oct 21, 2020 | Property Tax, Schools, Taxes

Employment Benefit vs. Broad-Based Income Tax

“The hardest thing in the world to understand is the income tax.” Albert Einstein

Is an employee benefit like vacation time or sick leave a broad-based income tax? Of course not. What one is offered in terms of an employee benefit varies from employer to employer. Take health insurance for example. Some employers offer you a menu of plans you can choose from while others offer you only a plan with a high deductible. Yet Republicans want you to believe that family and medical leave is the same as a broad-based income tax. Actually, family and medical leave is more like an insurance policy. You hope you never have to use it, but if you do, you are so glad it is there.

In a recent ad and some mailings, Republicans in Derry accused Democrats of supporting a broad-based income tax. What Democrats actually supported was a family and medical leave benefit (HB712). This benefit would provide some income if you have a medical or family crises that requires you to be away from your job for a period of time. A benefit that would get you through the crisis without putting you in danger of losing your job or your home.

Provide Relief for Property Taxpayers

In the same ad, the Republicans tried to confuse a vote to take some of the pressure off property taxpayers for funding our children’s education (HB 686) with a new tax on income. The bill actually adds capital gains income to the interest and dividends tax. A tax that has not been raised since 1977. When was the last time your property taxes went up?

HB 686 would exclude capital gains of less than $5,000 for everyone, and up to $10,000, for seniors and those with a disability, from the tax. The bill also excludes income from common retirement and college savings plans. It is truly targeted to impact those who make their money off other people’s work.

65% of state and local revenue comes from property taxes. It is time to spread the pain around. As Arthur Vanderbilt once said, “Taxes are the lifeblood of government and no taxpayer should be permitted to escape the payment of his just share of the burden of contributing thereto.” It’s time to spread the cost of educating our children around.

I’m running for State Representative to get the state to pay its fair share. See my website maryforderry.com for more information.