If passed, Question 4 would reduce the state income tax from 5.85 percent to 5 percent by
2003.
To many people, the issue is not only one of fiscal propriety and fairness, but rather a more compelling issue of the state Legislature honoring its obligation to the citizens of the Commonwealth.
Specifically, in 1989, in response to a fiscal crisis, the Legislature passed a "temporary, 18-month" tax increase, which was signed into law by Gov. Michael
Dukakis.
As newspaper accounts of the legislation unanimously illustrate, the tax hike was a.) temporary, and b.) to be in effect but 18 months, at the most.
"The Democratic House leadership yesterday agreed to plug last year's budget deficit with a temporary, 18-month hike in the state's income tax," wrote the Boston Herald on July 4, 1989.
Psssssst. That temporary, 18-month tax hike was passed 11 years ago! The recession is over. The bonds that were used to pay the overdue bills have been paid.
In fact, the Commonwealth is currently running close to a billion-dollar surplus, and according to the state Department of Revenue, has cash reserve accounts totaling nearly $4 billion, including $1.54 billion in the so-called "Rainy Day" fund.
Furthermore, the Commonwealth is still closer to Taxachusetts than it is to tax relief, as Massachusetts ranks 5th in the nation in per capita state taxes paid.
The tax cut would save the median income family in the Commonwealth approximately $450 a year in state taxes, an amount that House Speaker Thomas Finneran, an opponent of the rollback, acknowledges is "a lot to any ordinary person."
And as for the argument that the rollback will cut into vital state services, well, the state Legislature should spend more time watching rather than spending taxpayer dollars, and be less concerned with voting its members a $4,000 pay hike. The state budget has nearly doubled since 1989, yet we haven't seen or heard any concern from legislators about state debt or vital services until the people put this tax cut on the ballot.
The Massachusetts Taxpayers Foundation has determined that Massachusetts can continue to operate with a balanced budget should Question 4 pass.
The Commonwealth can afford to keep its promise to the taxpayers, and the taxpayers deserve better tax treatment from their Legislature.
Vote YES on Question 4 to make the Legislature honor its long-overdue obligation to reduce our tax burden to 5 percent.