Mark Twain was famously quoted as saying that “No Man’s Life Liberty or Property is Safe While the Legislature is in Session.” The House Democrats in Concord seem determined to prove him right. Having pledged not to raise taxes they immediately ran up a $500 million deficit. Now with the severe recession upon us they are determined to make things worse by raising taxes. In the last session of the House they passed no less than 23 fees and tax increases. Taxes were raised on everything from boat fees (HB205), the establishment of recreational saltwater fishing fees (HB481), attraction signs (HB 671), and a raise in gasoline taxes (HB644) even as Washington is poised to similarly raise gasoline taxes.
In this session, they have already passed eight more increases. Of course they could not stop there; having resolved that they would increase the tobacco tax (HB 608), could not help themselves and attached eleven more tax provisions to the core bill. The list of new tax targets seems endless: taxes on charitable gambling winnings, an increase in room and meals taxes, new fees on health facilities and community living facilities, a fee for review and permit reviews and inspections, motor vehicle inspection and fees, subdivision fees, environmental services and subsurface programs, as well as several other filing fees. For “good measure”, they have also decided to throw in a capital gains tax (5%) and inheritance tax (8%) which they have added to HB2. Why not?
Tag Archives: budget deficit
Busy, Busy, Busy
Posted in New Hampshire, The Economy Also tagged financial storm, Healthcare, Inflation, stimulus package, taxation 1 Comment
Bailing Out the Stimulus Plan
As far as experts go, economists are an argumentative bunch that seldom agree on most things. But one thing they do agree upon is that infrastructure spending has the biggest bang for the buck. Infrastructure spending will provide real “nutrition” to the economy, not the “sugar high” of most of the goodies in the House bill.
Posted in Stimulus Plan, The Economy Also tagged Healthcare, infrastructure, monetary policy, stimulus package, Stimulus Plan Leave a comment