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 …
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Do you think the "holiday" stimulates Massachusetts' economy? Let us know in the comments section below.
Shoppers will be getting a break this weekend, Aug. 11 and 12, during the Sales Tax Holiday in Massachusetts. This weekend, the 6.25 percent sales tax levy will be suspended on most items less that $2,500. Excluded items include tobacco products, utilities, motor vehicles, motorboats and meals. That still leaves appliances, electronics, household items, toys and a variety of other products people can buy without paying taxes. Is there something you have your eye on that you might buy this weekend? So what we want to know today is: What do you plan to purchase during the tax holiday? Do you think the tax-free weekend helps to stimulate the commonwealth's economy? Answer the question in the Comments section below.
M C Stringfellow
8:02 am on Wednesday, February 27, 2013
Aron, I am sorry I did not get back to you earlier, but Murphy;'s law came for a visit. A question, where did you get your information? I would like to read the same along with another book on The Depression. Every one gets a slant from the material they read. One source is not enough. then, I will get back to you on FDR and the Depression and the economy. Have a great day. more ›