NHDP - ICYMI: Concord Monitor Editorial: "Republicans Cling to a Budget Myth"

 

 

 

Key Point: “New Hampshire’s unemployment rate is the fifth lowest in the nation and the personal income of its residents rose faster than in any other New England state last year. But the state’s infrastructure is in trouble, state funding for public education and new schools is inadequate, student debt is the highest in the land thanks to too little state support and employer health care costs are high."
 
"The business tax cuts Republicans want would make it difficult or impossible to address those problems."
 
Click here for the full editorial or see excerpt below:
 
For Republicans, tax cuts are unicorns that, when they sip from stagnant economic waters, purify them and allow the flowers of free enterprise to bloom. A beautiful thought, but, like unicorns, the supply-side benefits of tax cuts are mythical.
 
… Gov. Hassan vetoed the budget because, among other things, it contains cuts to the state’s business profits and business enterprise taxes that aren’t accounted for…
 
… New Hampshire’s business taxes are, research shows, a minor factor when a company thinks about moving to or leaving the state. The state’s high and unpredictable energy costs, the availability of a skilled workforce, and the quality of schools and infrastructure all matter more. New Hampshire’s unemployment rate is the fifth lowest in the nation and the personal income of its residents rose faster than in any other New England state last year. But the state’s infrastructure is in trouble, state funding for public education and new schools is inadequate, student debt is the highest in the land thanks to too little state support and employer health care costs are high.
 
The business tax cuts Republicans want would make it difficult or impossible to address those problems. Worst of all, history proves that they never do what their backers hope, lead to an explosion in business growth that results in more, not less, total tax revenue.
 
Click here for the full editorial.
 
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