Low taxes: NH's recession buster
This great article from the NH Union Leader tells it like it is. Quote from the article:
Of all the New England states, guess where the recession is expected to be over first? If you guessed Rhode Island, go sit in the corner.
The answer, of course, is New Hampshire. Is anyone surprised?
The New England Economic Partnership's latest study, released last week, projected that Rhode Island would suffer the most in the current recession, New Hampshire the least. New Hampshire would not only come out of the recession sooner than the other states, but it would have the lowest unemployment throughout. Our peak unemployment is expected to hit 7.1 percent; Rhode Island's 10.9 percent. New Hampshire is expected to be the only New England state to maintain an unemployment rate lower than 8 percent during the recession.
The reason Massachusetts, Maine, Vermont, Connecticut and Rhode Island will all suffer worse job losses and a longer economic slump than New Hampshire is not because God likes us more (although He does). It's because New Hampshire taxes its people and businesses less and is a generally more business-friendly state.