Friday, January 25, 2013
The governor's budget proposal for fiscal 2014 would raise $1.9 billion in new revenues through a combination of tax increases and eliminating some tax breaks. Is the state's economy ready for this?
After years of treading water in the state budget, Gov. Deval Patrick has put forth an ambitious $34.8 billion proposal for the coming fiscal year that would make significant investments in education and transportation by raising $1.9 billion in revenue, through a combination of tax increases and eliminating some tax breaks. The question: Is the state's economy ready for this? To raise that funding, Patrick's proposal would increase the income tax from 5.25 percent to 6.25 percent, while doubling personal exemptions. It'd also lower the sales tax from 6.25 percent to 4.5 percent. Several tax breaks for both personal income and businesses would be eliminated. The gas tax would be indexed to inflation, ensuring gradual increases in what …
Thursday, January 17, 2013
Tell us: do you think we need to increase taxes to strengthen education and transportation?
In his State of the Commonwealth address on Wednesday night, Gov. Deval Patrick proposed raising the state's income tax by 1 percentage point and lowering the sales tax to pay for $2 billion in transportation improvements and early childhood education programs. "There is no good time to raise taxes. I know how tough the times have been on the people and families of the Commonwealth. And though the worst of the recession is over, many, many families still face tough decisions and have deep anxiety about the future. I would not ask if I did not believe in my heart that investing meaningfully today in education and transportation will significantly improve our economic tomorrows," Patrick said. Patrick said he wanted a more fair and …
Friday, August 10, 2012
Hey big spender. Do you have plans for throwing down wads of cash this weekend? Or are you giving your wallet a break?
Break out the credit card: On Tuesday, Gov. Deval Patrick signed a bill that designates Aug. 11 and 12 as a sales tax holiday, meaning you won't have to pay the state's 6.25 percent sales tax. Of course, there are some conditions. The tax holiday doesn't include meals, tobacco or single items that cost $2500 or more. (So much for my big plan to buy a Bugatti Veyron made of charcuterie and Camel Lights.) The tax holiday is intended to send hordes of shoppers to stores, where they'll purchase lots of things and help boost revenues for local businesses. Some consumers wait for the tax holiday to buy big-ticket items they've been planning to get anyway. If you buy something that costs $2500, you'll save $156.25. So, are you planning to take …
Wind Dummy 25
6:45 pm on Friday, February 1, 2013
I saw that report. I was very surprised that this was actually reported. Which makes me even more suspicious. Another misplaced over paid hack in charge like that bad driver in the safety office. more ›