Home » Opinion » Editorials
Tax 'incentives': Keep saying no
New Hampshire does not have a robust "tax incentives" program, and that has turned out quite well for New Hampshire taxpayers. As The New York Times has been chronicling recently, such "incentives" programs let businesses pocket $250 billion a year in taxpayer money.
Governments at every level offer companies tax breaks (often for decades) in exchange for opening (or sometimes just announcing the opening of) new facilities. Sometimes the jobs come; sometimes they don't. When they do, they are not guaranteed to stay. Many companies take the incentives, then leave after a few years for greener pastures, or they close. Taxpayers often are left paying tens of millions of dollars for jobs that either never materialized or that disappeared before the so-called "investments" could be recouped.
Wisely, New Hampshire elected officials have preferred the better policy of keeping everyone's taxes low (though we do have some limited state and local incentives). That could change, though. Gov.-elect Maggie Hassan campaigned on pursuing job growth by offering targeted tax breaks and state services. Our economy would be much better served by reducing business taxes for everyone. Tailoring tax breaks and state services to achieve specific policy goals corrupts the system and is less effective than offering everyone the same low rate.
READER COMMENTS: 1
- Enrollments declining in Hudson, but school budget increases still expected - 0
- New NHIA president painting a picture of expansion - 0
- Sources say former White House Chief of Staff Andy Card to be tapped as Franklin Pierce president - 3
- Students prepare to set sail at Tri-City Christian Academy - 0
- Local teacher makes trip to arctic - 0
- Teacher 'thrilled' at being reinstated - 7
- Scholar of the Month: Plymouth junior operates on 'full-sprint theory' - 0
- Software upgrade delays grades - 0
- Derry School Board to hold forum on Facility Needs Study - 0
READER COMMENTS: 0
- Franklin man and woman arraigned for attempted prostitution of minor - 0
- Rymes is ready to roll following Fred Fuller purchase - 0
- Police investigating death of 3-year-old girl in Nashua - 7
- Police say hit-and-run driver was observed tossing beer cans from car - 1
- City championship on the line Thanksgiving Day - 1
- Your Turn, NH -- Mike Moffett: Republicans can win in 2016 with Kasich at the top of the ticket - 6
- On being American: A point for reflection - 2
- Charles Arlinghaus: 'Tis the season for budget games and gimmicks - 0
- Rymes takes over for Fuller, deliveries start Wednesday - 1
Manchester school exec contract squeaks by
Pipes and plans: A chance to show up Mass.
Your Turn, NH -- Mike Moffett: Republicans can win in 2016 with Kasich at the top of the ticket
On being American: A point for reflection