Despite strong claims from both sides, two years after Massachusetts voters approved a new 4 percent surcharge on income over $1 million, we don’t really know how the tax is working.
Evan Horowitz
Posted inOpinion
Old laws, like Prop 2 1/2, need to adapt to times
I’VE BEEN STRUGGLING to find the right metaphor for our current economic situation. After the great recession of 2007-2009, my go-to was a staircase: the recession had knocked us down a flight of stairs and it took us a decade to climb back up. But that won’t do today. If COVID knocked us down the […]
Posted inOpinion
Inflation having big impact on Mass. public policy
Usually, if your boss offers you a 5 percent raise, that’s good news. Right now, it’s a pay cut, thanks to inflation. That may sound strange, or depressing, but it’s our economic reality.
Posted inNews Analysis
Why tax forecasts during COVID have been so wrong
ONE OF THE GREAT PUZZLES of the past year is that the world was devastated by a plague and Massachusetts tax revenues were…pretty much OK. Month after month, the state is collecting far more money than expected, dissolving initial fears of a multi-billion dollar deficit and leading to a new realization that state finances are relatively […]