Boston Globe: "State may see $200m shortfall". But wait, it gets worse:
The state’s budget problems are compounded by the fact that Patrick and top lawmakers have relied in large part on one-time revenues to plug the previous budget gaps, using federal stimulus money that will dry up next year and a state reserve fund that is dwindling. Additionally, economists have warned that the state is in a multiyear cycle that will continue to strain budgets until at least 2014.Going to the Granite State to escape taxes? You mean like this guy?
"Oh, Lordy," said Michael J. Widmer, president of the Massachusetts Taxpayers Foundation, when told of the estimates. "Numbers like this for September suggest [the state’s revenue estimates] could be $500 million or more too high for the year."
Revenue dropped despite a controversial decision by Patrick and the Legislature to increase taxes by more than $1 billion, including boosting the state sales tax from 5 percent to 6.25 percent. Retailers warned that the state would not raise nearly as much as estimated, predicting that customers would go to New Hampshire or the Internet to avoid additional taxes.
4 comments:
That brave lawmaker was just "going Malt."
How do you find out how many companies have left MA since the reign of Patrick? Also, how many taxpayers have left and how many indigents have come in?
Between 2003-2005, Massachusetts' population dropped by over 6,000 people a year! That's (almost) the same as one game's seating capacity in Fenway Park's bleachers section!
At this rate, will the last person to leave the state please turn out the light, in the year 3074?
My wife and I have both turned down job offers to return to MA. No thanks!
Post a Comment