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State's I&D tax is there to penalize those who save and invest

To The Daily Sun,

Why does New Hampshire penalize savers and investors?

Everyone knows that New Hampshire does not have either a personal income tax or a broad-based sales tax, but why has so little attention been paid to the insidious New Hampshire tax on interest and dividends (the I&D Tax)?

The I&D Tax is assessed at 5 percent of a person's interest and dividend income. It may also apply to distributions from an S Corporation, a partnership or an LLC.

The worst effect of the I&D Tax by far is on individuals who have worked hard and saved and invested for their future, after paying federal income taxes on whatever income they were able to generate and save.

This falls especially hard on seniors who are sufficiently fortunate to have investments in bonds and/or stocks. Even with the artificially low interest rates being paid on bank accounts, CDs, and bonds, to have to pay 5 percent of the meager interest income to the State of New Hampshire is outrageous, considering how we in the state pride ourselves on being a low tax environment.

The I&D Tax accounts for only about 4.06 percent of the total state unrestricted revenues, a very small portion of the total. So why is it still there?

It is there to penalize people who work and strive and save and invest to support themselves rather than relying on big government to take care of them. Plain and simple, it is "progressive" social policy run amok.

The I&D Tax should be repealed, and any person running for political office in the state who claims to have taken the "Tax Pledge" ought to be asked also to pledge to support repeal of the I&D Tax.

Norman J. Silber
Gilford

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Pat Buchanan - The Great White Hope?

"Something startling is happening to middle-aged white Americans. Unlike every other age group, unlike every other racial and ethnic group ... death rates in this group have been rising, not falling."

The big new killers of middle-aged white folks? Alcoholic liver disease, overdoses of heroin and opioids, and suicides. So wrote Gina Kolata in The New York Times of a stunning study by the husband-wife team of Nobel laureate Angus Deaton and Anne Case.

Deaton could cite but one parallel to this social disaster: "Only H.I.V./AIDS in contemporary times has done anything like this."

Middle-aged whites are four times as likely as middle-aged blacks to kill themselves. Their fitness levels are falling as they suffer rising levels of physical pain, emotional stress and mental depression, which helps explain the alcohol and drug addiction.

But what explains the social disaster of white Middle America?

First, an economy where, though at or near full employment, a huge slice of the labor force has dropped out. Second, the real wages of working Americans have been nearly stagnant for decades.

Two major contributors to the economic decline of the white working-class: Scores of millions of third-world immigrants, here legally and illegally, who depress U.S. wages, and tens of thousands of factories and millions of jobs shipped abroad under the label of "globalization."

Another factor in the crisis of middle and working class white men is the plunging percentage of those who are married. Where a wife and children give meaning to a man's life, and to his labors, single white men are not only being left behind by the new economy, they are becoming alienated from society.

"It's not surprising," Barack Obama volunteered to his San Francisco high-donors, that such folks, "get bitter, they cling to guns or religion or antipathy to people who aren't like them..."

We all have seen the figure of 72 percent of black children being born out of wedlock. For working class whites, it is up to 40 percent.

A lost generation is growing up all around us.

In the popular culture of the '40s and '50s, white men were role models. They were the detectives and cops who ran down gangsters and the heroes who won World War II on the battlefields of Europe and in the islands of the Pacific.

They were doctors, journalists, lawyers, architects and clergy. White males were our skilled workers and craftsmen — carpenters, painters, plumbers, bricklayers, machinists, mechanics.

They were the Founding Fathers, Washington, Adams, Jefferson and Hamilton, and the statesmen, Webster, Clay and Calhoun.

Lincoln and every president had been a white male. Middle-class white males were the great inventors: Eli Whitney and Thomas Edison, Alexander Graham Bell and the Wright Brothers.

They were the great capitalists: Andrew Carnegie and John D. Rockefeller, Henry Ford and J. P. Morgan. All the great captains of America's wars were white males: Andrew Jackson and Sam Houston, Stonewall Jackson and Robert E. Lee, U.S. Grant and John J. Pershing, Douglas MacArthur and George Patton.

What has changed in our culture? Everything.

The world has been turned upside-down for white children. In our schools the history books have been rewritten and old heroes blotted out, as their statues are taken down and their flags are put away.

Children are being taught that America was "discovered" by genocidal white racists, who murdered the native peoples of color, enslaved Africans to do the labor they refused to do, then went out and brutalized and colonized indigenous peoples all over the world.

In Hollywood films and TV shows, working-class white males are regularly portrayed as what was once disparaged as "white trash."

Republicans are instructed that demography is destiny, that white America is dying, and that they must court Hispanics, Asians and blacks, or go the way of the Whigs.

Since affirmative action for black Americans began in the 1960s, it has been broadened to encompass women, Hispanics, Native Americans the handicapped, indeed, almost 70 percent of the nation.

White males, now down to 31 percent of the population, have become the only Americans against whom it is not only permissible, but commendable, to discriminate.

When our cultural and political elites celebrate "diversity" and clamor for more, what are they demanding, if not fewer white males in the work force and in the freshman classes at Annapolis and Harvard?

What is the moral argument for an affirmative action that justifies unending race discrimination against a declining white working class, who have become the expendables of our multicultural regime?

"Angry white male" is now an acceptable slur in culture and politics. So it is that people of that derided ethnicity, race, and gender see in Donald Trump someone who unapologetically berates and mocks the elites who have dispossessed them, and who despise them.

Is it any surprise that militant anti-government groups attract white males? Is it so surprising that the Donald today, like Jess Willard a century ago, is seen by millions as "The Great White Hope"?

(Syndicated columnist Pat Buchanan has been a senior advisor to three presidents, twice a candidate for the Republican presidential nomination and the presidential nominee of the Reform Party in 2000. He won the New Hampshire Republican Primary in 1996.)

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