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.
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Unions Have Right to Violence
Thursday, October 6th, 2011Economic Benefits of the “New Hampshire Advantage”
Monday, October 3rd, 2011The 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.
However, New Hampshire can’t sit still. The state government still has plenty of work to do, especially by enacting right-to-work and reforming the pension system.
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New Hampshire’s Private Sector . . . 2nd Quarter, 2011
Tuesday, September 27th, 2011Last week the U.S. Department of Commerce’s Bureau of Economic Analysis released new personal income data for the second quarter of 2011 by state (pdf) and revisions for the past couple of years. As shown in Chart 1, New Hampshire’s private sector share of personal income for the second quarter of 2011 was at 76.1 percent–or 9.9 percent larger than the national average.
Note that the private sector is significantly higher than last reported for the first quarter, 2011. The reason is due to the Orwellian American Recovery and Reinvestment Act (ARRA). According to new BEA revisions, “net” ARRA payments are lower than reported previously because “some ARRA funding, such as for Medicaid, replaced state funding and had no net effect on personal current transfer receipts.” As a result, the rebound in the private sector is better than previously reported.
As such, Chart 2 shows that, in the second quarter of 2011, the modified ARRA calculations show that $99 million was pumped into New Hampshire’s economy via personal current transfer receipts (pdf). This is down from the peak spending ($303 million) under ARRA in the second quarter of 2009. As ARRA spending continues to wind-down, this will continue to help New Hampshire’s private sector rebound from its all-time lows though it puts a drag on overall personal income growth.
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New study finds New Hampshire’s Business Tax Burden is one of the Lowest in the Country
Saturday, September 10th, 2011Check 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.
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New Hampshire’s Low Business Tax Burden
Monday, August 1st, 2011Ernst & 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.
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