Ted Gatsas is proposing to combat higher property taxes by having the State issue credits to homeowners over the age of 65. Click here. Gatsas’ proposal treats the symptom, not the disease, which is out-of-control spending. Repeat after me, Ted: low taxes are the result of low spending.
Gatsas’ proposal will have at least two bad effects. First, it will make seniors less concerned about spending, which will make it easier for the tax-and-spend crowd to increase taxes.
Second, it is regressive: "To qualify, a senior’s income must be less than $75,000, and his or her assets cannot exceed $500,000, excluding a house." The median family income in New Hampshire, if my memory serves me correctly, is under $60,000.00, and the median assets, again going on memory, are materially lower than $500,000, never mind $500,000 plus a house. Thus, Gatsas’ scheme will result in people living in modest houses paying higher taxes to subsidize the property tax bills of the affluent.
This type of Rockefeller Republicanism is a big part of why the State GOP was obliterated in the 2006 elections.
