Sunday, March 02 2008
The New Hampshire Union Leader
To New Hampshire residents and business owners, the single greatest consequence so far of the state's turning "blue" in 2006 has not been the massive increase in state spending under new Democratic-controlled state government. The bill for that has yet to come due. The biggest consequence has been the massive increase in legislators' efforts to regulate and tax behaviors of which they disapprove.
In less than two years, legislators have already put one industry out of business, come perilously close to shutting down another, and have gone after many more.
Last month legislators passed, and Gov. John Lynch signed, a bill that will force payday lenders out of the state. It literally legislates away their ability to make a profit. Why? Because legislators just don't like the practice of offering short-term loans to people in exchange for a high fee, even though many people benefit from this service.
Legislators were on the verge last month of putting New Hampshire's cigar shops out of business by imposing a 60 percent tax on all cigars. (Sixty percent!) Thankfully, the bill was referred to a study committee and is essentially dead for the session. But it is sure to come back in some form as long as this crowd is in charge.
Article continues at UnionLeader.com...
