Boston Herald, by Erin Tiernan
A group of 91 Massachusetts economists are calling on Gov. Charlie Baker and legislative leaders to raise personal income and corporate taxes amid projected massive coronavirus-induced decreases in tax revenues.
They claim it's the only "fair" way to balance next year's budget and avoid spending cuts — even as homeowners and businesses try to dig out of an economic hole.
"In a recession, balancing the budget by cutting spending has a more negative impact on economic growth than balancing the budget by raising taxes. Both the personal income tax and the corporate tax are fair ways to do this, since they fall only on persons with incomes and businesses with profits," the economy and public policy experts wrote in their May 26 letter to Baker, House Speaker Robert DeLeo and Senate President Karen Spilka.
Group of economists push for tax hikes to balance Massachusetts state budget