Rep. Smith's budget: The Flee to Florida Act

The Union Leader comes out strongly against the many tax hikes contained in the House Finance Committee's budget, and urges Gov. Lynch to do the same before investors and entrepreneurs flee the Granite State:

If Gov. John Lynch wants to drive investors, businesses and retirees out of the state, he should swiftly announce his support for the budget released this week by Rep. Marjorie Smith's House Finance Committee.

The committee's $11 billion budget spends roughly $31 million more than the state spends now. More importantly, it finances much of that increase via three new taxes: one on estates, one on capital gains and one on gambling winnings. In addition, it increases a host of other taxes and fees, including the rooms and meals tax, fuel tax and tobacco tax.

The estate and capital gains taxes should alarm the governor enough to draw a veto threat. We'd say "an immediate veto threat," but the governor has already let a day go by without comment.