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December 2, 2007

The Reagan Revolution is Alive and Well

Massachusetts voters may get another chance to vote to abolish that state's income tax. A similar proposal came close to passing a few years ago. If it passes in traditional high-tax Massachusetts, I predict you'll see people in other states with the initiative-and-referendum process move to abolish their state's income tax too.

Posted in Campaign Season

Comments

Massachusetts is an example of how a sick local tax system can be masked by an overall robust investment based system that is living off good policy in other parts of the world and the U.S. Per Capita Income can actually rise when population, employment and crushing taxation is causing people to move themselves and their bank accounts to other states. The state has a history of making the local governments make up for state shortfalls. This is one of the ways they were able to avoid bankruptcy from the Big Dig. That means more sales or property taxes to fill the breech. Tolls are also rising even though the road is theoretically paid for.
The income tax does well when the state or world economy does well. Dropping it and depending on the local economy will be a disaster but also a valuable chance to learn the virtue of living within YOUR means and not the means of the rich.

Posted by: Danny L. Newton at December 2, 2007 2:48 PM
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