Only New Hampshire could come up with today’s Ballot Initiative–to quote the West Wing’s Sam Seaborn: “New Hampshire: live free–or cheap.” The state that does not have a personal income tax has a constitutional amendment on the ballot Tuesday to ban any and all future income taxes. The measure is plain and simple: “No new tax shall be levied, directly or indirectly, upon a person’s income, from whatever source it is derived.” Let’s just say it’s chances of passing are pretty high.
New Hampshire and Tennessee are the nation’s two states that only tax income from interest and dividends. Seven states have no personal income tax altogether: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming.