STATE DEMOCRATS RECKLESS SPENDING, LLC TAX ARE STEPS TOWARD CONTROL OF ECONOMY
Citizens for Sensible Legislation warns about liberal deception aimed to sneak through income tax
CONCORD, N.H. ― Now that the Democratic Party controlling the state Legislature has successfully spent more money than New Hampshire residents can afford, these irresponsible progressives are working overtime to promote new taxes, such as the LLC business income tax, to try and cover their spending spree.
Working families of New Hampshire know that raising taxes in the midst of a struggling economy defies common sense, said Andrew J. Manuse, communications director of Citizens for Sensible Legislation. If these new taxes are allowed to stand, it will assuredly lead to more job losses, fewer business opportunities and less innovation. The idea of creating new taxes during tough economic times is so irresponsible that there is clearly another motive behind the spend, then tax policies of the current Legislature.
Limited Liability Companies already pay Business Enterprise Taxes on payroll and interest like other businesses in the state. But with this new LLC tax, such company owners will have to pay taxes on net profits. According to the way LLCs are organized, company profits are really just an accounting term for the owners personal income. The state has also assumed a power to define reasonable compensation, which will literally seize the money that business owners have rightfully earned to pay their mortgages and feed their families.
If history is any lesson to us, it is clear that power hungry liberals will not stop with taxes on LLCs that effectively dictate the income these business owners can make, Manuse added. The Democrats ruining New Hampshire are trying to get citizens used to the idea of new and increased taxes. They are intentionally spending more than the state can afford. This will set up an opportunity for them to use spin and deception to rally support for an income tax for everyone. Clearly, a sales tax would be part of that package.
With more spending will come more taxes, which will naturally make government bigger. How much of the new tax revenue will pay for this useless government waste, while the Legislatures spending problem remains unaddressed? And as constituents are burdened with more taxes, politicians will continue to lobby for one special interest group or another. The tax law will be used in this capacity to over regulate the private affairs of businesses and individuals.
"The proposed LLC tax is just another big government scheme from to expand Concord's control over the state's economy," said John Slattery, chairman of Citizens for Sensible Legislation. The LLC tax is a direct result of Democrats desire to line the governments pockets at a time when New Hampshire families and businesses are cutting back. At the end of the day, this will just add to the pain New Hampshire residents are already facing.
About Citizens for Sensible Legislation
Citizens For Sensible Legislation is a volunteer coalition of residents committed to educating the people of New Hampshire about candidates, legislation and issues that affect individual and economic liberties.
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If you'd like more information about New Hampshire Citizens for Sensible Legislation, visit http://cslnh.org. To schedule an interview, contact Andrew J. Manuse at 603-703-8857 or ajmanuse@cslnh.org.
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