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June 18. 2013 11:41AM

Cato Insitute: In decision to kill tax credit for donations to religious schools, NH court embraces opposite view of U.S. Supreme Court

The U.S. Supreme Court held, in essence, that your money is your own whether or not it qualifies for a tax deduction of some kind. A taxpayer’s money only becomes “public money” once the government actually collects it in the form of taxes. The NH trial court judge, by contrast, holds that any taxpayer’s income on which the government might have a claim is instantly “public money,” even before collection, and it remains so even if the existence of a tax credit or deduction means that government will never collect it.

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