News

Garber Privately Tells Faculty That Harvard Must Rethink Messaging After GOP Victory

News

Cambridge Assistant City Manager to Lead Harvard’s Campus Planning

News

Despite Defunding Threats, Harvard President Praises Former Student Tapped by Trump to Lead NIH

News

Person Found Dead in Allston Apartment After Hours-Long Barricade

News

‘I Am Really Sorry’: Khurana Apologizes for International Student Winter Housing Denials

6 and 7 Hurt Business

DISSENT

By George Wang

Passage of Questions 6 and 7 would hurt Massachusetts residents and businesses.

Small businesses have traditionally been the principal sources of job creation in both the state and the country. They generally file as individuals, meaning that many companies will find themselves with higher taxer burdens if Question 6 passes. While it is true that most small businesses will not be hit by the tax hike, those that are will be the ones which are the most successful.

Questions 6 and 7 will also likely have a detrimental effect in the long term. Proponents claim the new graduated tax will be revenue-neutral. While this may be true for the next fiscal year, the state legislature will almost certainly take advantage of their newly gained lee-way to raise taxes to higher levels in the future.

The fact is, the state income tax is already highly progressive. The tax code contains numerous deductions and exemptions which benefit low-income families. In fact, income taxes for those in the lowest quintile are less than the national avergage. Meanwhile, Massachusetts taxes those in the highest quintile heavier than the national average.

Want to keep up with breaking news? Subscribe to our email newsletter.

Tags