The Boston Herald
Wednesday, May 2, 2001
A vote for fiscal sanity
A Boston Herald editorial
Score a victory for fiscal sanity in the Massachusetts
House.
The crowd that insists it has a much better use for our
money than we do took it on the chin as the House began its budget deliberations this week. An attempt to reimpose state
taxes on long-term capital gains was voted down 111-43.
The tax-loving sponsor of the amendment, Rep. James Marzilli
(D-Arlington), whined that the additional revenue -- estimated at some $400 million a year -- could have been used to
fund a "panoply of social programs." Instead that money will no doubt continue to be used by
taxpayers to save for their kids' college education, to pay bills, maybe even to paint the
house. Isn't that just terrible.
But the House has a solution for Marzilli and others like
him who insist they are undertaxed, that the state should take much more out of their paychecks. A solution for the
guilt-ridden is now in sight.
While it may not survive the whole budget process (the
Senate may not have as cheeky a notion of budgeting), a new measure allows taxpayers who truly want to pay more in state
income taxes a check-off in order to do it. It may well be a mischievous concession by
House Democrats to Republicans, but it is one way to gauge if tax cut opponents put their
money where their mouths have been.
The House also approved a voluntary checkoff for individual
property taxes that would allow homeowners to pay into a Voluntary Community Preservation Fund. Proceeds could be
used by communities to acquire open space or for historic preservation or to build affordable
housing.
What began as a tongue-in-cheek proposal could be a great
exercise in honesty in public policy.