My Turn: Democrats’ tax plan and fuzzy accounting too risky
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Would you buy a new, more expensive home with your one-time bonus from work or based on income you can’t reasonably expect to receive? Sure, you might be able to pay the bills for a few months, but what happens when your pipe dream money plan dries up? You’ve dug yourself into a financial hole and you’ll have to make severe cutbacks. That’s just what House and Senate Democrats have done with their state budget proposal this year.
You’ve probably heard that Gov. Chris Sununu vetoed the Democrats’ budget. I support him for doing so. In his veto message he said, “New Hampshire families know they have to live within their means and they have every right to expect their government to do the same.” I couldn’t agree more. Democrats have built a budget based on inflated tax revenue expectations, and using one-time revenue to grow government not just now but perpetually. That’s a recipe for disaster, and will undoubtedly create a budget deficit in the not-too-distant future.