Ted Gatsas’s economic plan, the “Granite Growth Agenda,” is just a reinvention of Regan’s failed “trickle down” economic policy and is so full of holes you could strain pasta with it.
Yesterday, Manchester Mayor Ted Gatsas was traveling the state promoting his economic plan that focuses heavily on helping the business community.
“As governor, I will be a partner in working to strengthen and grow New Hampshire’s economy,” said Gatsas at an event in Nashua. “No matter who you are, where you live or how big your business is, the Granite State economy will work for you.”
“As governor, I will get Concord off (the) backs of New Hampshire families and businesses and out of your wallets,” Gatsas continued.
How will he accomplish this? With GOP magic, cut business taxes and magically the economy will flourish.
Gatsas told the Concord Monitor Editorial Board that “he would like to see the Business Profits Tax and the Business Enterprise Tax either rolled back or cut altogether.”
First Gatsas wants to cut taxes reducing our state’s revenue at the same time he wants to increase the state’s contributions to the NH Retirement System.
Gatsas told the Monitor that he thinks the State should “pay its fair share of retirement costs.”
“Gatsas said he thinks municipalities would like to see the state’s retirement system contribution returned to its original 40 percent,” wrote the Concord Monitor. Gatsas also admitted, “I don’t think that’s going to happen.”
But wait there is more!
At least Gatsas realizes the problem with instituting full day kindergarten.
“The most obvious barrier is funding,” Gatsas said. “To encourage districts to adopt full-day kindergarten I will work with the legislature to adjust the education funding formulas to count each kindergarten student in a public full-day program to be reimbursed at the full-day rate.”
So the Gatsas’ plan is to cut tax revenue while increasing state expenses.
“Rehashing failed Republican economics and repeating far-right talking points can’t hide the fact that Ted Gatsas’ ‘plan’ would do nothing for middle-class families trying to get ahead,” said New Hampshire Democratic Party Chair, Raymond Buckley. “His record offers more of the same. Gatsas has spent his time in office blocking investment in New Hampshire’s clean energy future and implementing deep education cuts that led to massive layoffs.”
Because the Legislature is required to pass a balanced budget, the loss in revenue and increase in expenses, means that cuts will have to be made in other departments as well.
Maybe Gatsas can explain how cutting taxes will help to fix the hundreds of “red listed” roads and bridges across the state? How are we going to attract new businesses to New Hampshire when they do not have access to the infrastructure needed to move their products?
New Hampshire also has a significant problem retaining young workers. Many leave the state because the cost of living is so high and wages are so low. Local companies are already struggling to find workers to replace their aging workforce. Why would any new business want to relocate to a place where they will not be able to find an adequate labor force?
Trickle down economics is a scam to help businesses at the expense of working people and our communities. We do not need more austerity politics. We need more investment in our future. We cannot make the investments needed if we continue to cut our revenue streams.
Mayor Gatsas, your pasta is ready.