Monday, October 5, 2009

Eagle-Tribune: “Cutting Taxes is Key to Economic Growth”

The Lawrence Eagle-Tribune ran an editorial in today’s edition urging Beacon Hill to take a new approach to the current economic crisis saying, it’s time to cut taxes, not raise them! The editorial was apparently written after more than a dozen mayors from across the Commonwealth last week encouraged Beacon Hill lawmakers “to pass laws that would promote development and job creation — economic growth, in other words.”

In a state where the expected reaction to any economic downturn is to raise taxes, these mayors said the majority of cities and towns are rejecting the local tax options because raising taxes won’t stimulate the local economies.

So, the Eagle Tribune, using a basic argument says since raising taxes hasn’t been improving the economy, why not try the opposite? The editorial says, “Cut the income tax. Cut the sales tax. Maybe something different will happen.”

Click here to read the editorial in its entirety.