Jarvis: Hey, Bay State Millionaires, It Might Be Time To Head North

SANDOWN, NH — Massachusetts is currently considering a “millionaires tax” which would add an additional 4 percent tax on top of the current general state income tax of 5.1 percent for anyone earning over $1 million annually. This would mean that if you earn $1 million annual your income tax would be 9.1 percent ($91,000) and then add on their Federal Income Tax of around 34.1 percent ($341,000). With no deductions or addition income (dividends from stock shares, etc) that would leave you with $568,000 – still much more than the average person.

Many may think “Well, they are rich so they can afford to pay more in taxes.” In a state that is already the 5th most expensive state to live in with housing being 75 percent, transportation 8.9 percent, and groceries 11.6 percent more expensive than other states, it may be the final straw for many of the elite in Massachusetts. They already typically buy homes that are more expensive than you and I can afford and their cars are more expensive and the utility costs on the homes they choose to live in are also more than what you and I will spend.

Still, they are going to have more in their savings account than the rest of us at the end of each month. But does that mean most of these people who worked hard to get to the point where they are earning that much money want to be giving almost half of their income in taxes?

I would like to offer an alternative.

Just across the border of Massachusetts is the beautiful state of New Hampshire. The state already has some wonderful tech industries thanks to NH elites like Dean Kamen, but we have a ready workforce who won’t mind not having to travel down to Massachusetts to go to work any longer. By moving your home and company to New Hampshire you could save in housing costs, and no longer pay any state income tax at all. New Hampshire’s cost of living is less than that in Massachusetts. More than 33,000 millionaires call New Hampshire home already. With at least 11 towns boasting a median income for the entire town of over $100,000, there are plenty of beautiful homes to choose from.

With no income tax and no sales tax, you could make a nice living here and get to keep much of your hard-earned income.

Need a place to bring your business? There are many office parks that are for sale or willing to build to suit so you can move your business here. We have the space ready and waiting for companies like Biogen or eCom Corp. Would Shira Goodman consider moving the Staples Headquarters here? We’ve got space for that and willing employees waiting!

I will happily connect anyone with a couple amazing real estate agents.

Jilletta Jarvis is running for governor in 2018 under the Libertarian Party banner. She can be found at jillettajarvis4nh.com.