“That’s how we got into this mess in the first place, by overestimating revenue.’’
Related: State Tax Take
And they are doing it again.
"State tax revenue on the rebound, officials now say" by Matt Viser, Globe Staff | December 17, 2009
State tax revenues appear to be bouncing back and will begin to grow next year, providing a long-awaited glimmer of good news after two years of falling tax collections, according to state officials and economic specialists.
The new estimates, along with some one-time tax settlements, make it more likely that Governor Deval Patrick will not have to make further midyear budget cuts that seemed almost certain several weeks ago.
“The recession is over,’’ said David G. Tuerck, executive director of the Beacon Hill Institute at Suffolk University, echoing an increasingly prevalent view. “We are, in fact, in recovery mode and a fairly brisk one at that.’’
PFFFFFFTTT!!!!
Still....
Yeah, we are STILL LOSING JOBS, therefore there IS NO RECOVERY despite what this lying s***-puke and the state say!!!
Deep cuts in state services in recent months are hardly over, as state officials wrestle with how to make up for federal stimulus funds and other one-time revenue sources that bolstered the budget over the past year.
And that is not stimulus.
Related: Second Stimuloot on the Way
The state’s reserve account is also dwindling, leaving little room for error.
I can't figure out why they are sitting on money at this time, but....
Even with the improved revenue estimates, specialists say that cuts will probably still be needed to balance the budget. The improved outlook is the result of factors including a stabilization in job losses that had drained state income taxes in recent years. Corporate profits are also expected to increase, which will bring more corporate tax revenue, and state sales tax revenue has also been growing, in large part because of a controversial increase in the sales tax rate the Legislature approved earlier this year.
Yeah, lie about that tax increase so you can shovel more s*** at us, Glob.
State economists and revenue officials provided lawmakers yesterday with a detailed look at their tax revenue estimates for the next 18 months, which will be used as a foundation for Patrick’s budget proposal next month.
Yeah, that is ALL THEY ARE!!!
The predictions were the latest piece of good economic news, which until recently had seen revenues consistently fail to meet estimates....
Yes, I NO LONGER BELIEVE GOVERNMENT and MSM PROPAGANDA!!!
The budget developments were part of a chaotic day on Beacon Hill as House lawmakers interrupted their holiday recess to hold a closed-door caucus on education legislation, and as Speaker Robert A. DeLeo tried to quell ongoing dissent over more than $350,000 in taxpayer-funded legal bills stemming from the federal investigation of former speaker Salvatore F. DiMasi....
Related: A Surreptitious State House
Revenues plummeted last year, causing several rounds of midyear budget cuts. There were times when the state could barely pay its bills.
But they can SHOVEL AWAY HUNDREDS of MILLIONS in TAX LOOT to Hollywood, biotech, green tech, and their own pension plans, etc -- and raise taxes!!!
The problems were triggered by the national meltdown in credit markets, plummeting stock and real estate values, and an economy that was tumbling into a recession. The state was faced with declining tax revenues, with corporations making fewer profits, businessmen paying less on their capital gains, and residents spending less at stores.
Yeah, sure!
I, for one, am TIRED of the NEWSPAPERS making LYING EXCUSES for LOOTING GOVERNMENT!!!!
“We are fairly confident that the bottom has been reached, and we will begin to grow,’’ Alan Clayton-Matthews, a Northeastern University economics professor, said at yesterday’s revenue hearing. “By my best estimate, the state hit the bottom . . . in October.’’
Related: Boston Globe Business Pages Are Nothing But Bulls***!
Yeah, he's one of their chief tossers.
--more--"
Of course, I'm being much to harsh.
State IS HERE to HELP you!
"State working out bugs in new online unemployment insurance tax system" by Robert Gavin, Globe Staff | December 17, 2009
Why are the unemployed being taxed at all?
The state will waive fees and defer interest on late fourth-quarter unemployment insurance tax payments as it shakes out a new electronic filing system and gives companies time to become familiar with it, state labor officials said.
Oh, isn't that nice of them?
The system, launched about a week ago, has experienced glitches that have caused problems for businesses trying to use it....
Pffft!
They can't even serve businesses, what makes you think they care about you?
Oh, wait, here is one industry they care about:
"Hollywood glamor, at thrift store price; From Goodwill, furniture that made the big screen" by Erin Ailworth, Globe Staff | December 19, 2009
Headed to the movies anytime soon? If the film was shot in Massachusetts, take a closer look at the armoire in that one bedroom scene or maybe the desk in the main character’s office. Either may soon appear at a neighborhood Goodwill - a bit of Hollywood glam for a thrift store price....
Was it worth it, Bay-Stater?
Slow Saturday Special: Day at the Movies
The Hollywood Heist of Massachusetts
"WHEN MASSACHUSETTS gives out special tax breaks to foster economic development, the public deserves to know who benefits from the programs and how many good jobs they create. Do million-dollar incentives for life-sciences firms support the growth of high-skill manufacturing or merely a smattering of menial jobs? Does the state film production credit subsidize a few mansions in the Hollywood Hills, or does it foster an ecosystem of local set designers, camera crews, and actors?
You know the answer to that one, readers!
--more--"
Yeah, I guess a TAX INCREASE is their way of saying I love you.
Related:
Massachusetts Residents Taken For a Ride on the T
Massachusetts Residents Taken For a Ride
Why Massachusetts Needed to Raise Taxes
Tax Increase Fails to Save Massachusetts ServicesBlood All Over Massachusetts State Budget
State Government On Probation
The Next Taxachusetts Tax Increase
Bankers' Bark Worse Than Bite to State
The Compassionate Budget Choices of Massachusetts
The State of Massachusetts is Mentally Ill
Yup, THAT is where your TAX DOLLARS ARE (or are not) GOING, Massachusetts!!!
