According to a 1973 ruling from the Supreme Court (the Enmons Decision), unions have “the use of violence to achieve legitimate union objectives.” This shocking video, produced by the National Right-to-Work Committee–shows the results of this misguided policy–escalating union violence. The best way for New Hampshire to help level the playing field is to enact Right-to-Work.
The data for chart below is taken from the Federal Reserve Bank of Philadelphia’s State Coincident Index. The chart shows that New Hampshire’s economy has outperformed every other New England state since July 1992 (the base year of the index = 100). Massachusetts comes in second followed by Connecticut, Rhode Island, Vermont and Maine.
Check out my latest examiner.com story which finds that New Hampshire’s business tax burden is one of the lowest in the country. A healthy business community also translates into a healthy economy—as witnessed by New Hampshire’s low unemployment rate relative to the rest of the country.
Ernst & Young and the Council On State Taxation (COST) just released their annual study on “Total State and Local Business Taxes” (pdf) which provides a comprehensive look at the business tax climate. As shown in the chart below, New Hampshire’s state and local tax burden on businesses as a percent of private sector Gross State Product, for Fiscal Year 2010, was 4.4 percent–the 36th highest in the country.
Also, to better understand the “New Hampshire Advantage,” the chart shows that neighboring Vermont (7.1 percent, rank 4th) and Maine (6.8 percent, rank 5th) have business tax burdens that are significantly higher. Although New Hampshire’s business tax burden is on par with Massachusetts’ (4.3 percent, 39th).
The study also indicates that the tax burden on businesses has been declining in recent years. Table 6 on page 11 shows that, between FY 2007 and FY 2010, the tax burden on businesses has declined by $400 million. Interestingly, most of that decline has come from local property taxes which dropped by $300 million, or 19 percent.