From WSJopinion: Massachusetts voters have the choice to block a tax hike and preserve a revenue model that works. Democrats want a 9% top rate on income despite a revenue surge.
Bay State ballots in November will give voters the choice to place a 4% surtax on incomes above $1 million, bringing the top rate to 9% from 5%. The proposal would amend the state constitution to remove its flat-tax mandate. Passing the measure would rocket Massachusetts to seventh from 31st on the list of states with the highest marginal income-tax rates.
Massachusetts now boasts a lower jobless rate at 3.6% than New York and Connecticut, and lower taxes have helped the state’s economy and fisc. A $2.3 billion revenue surplus shows that the state is already taxing more than it needs. Approving the tax would speed up a wealth exodus already under way. The Pioneer Institute last year noted that Massachusetts’ tax base has been eroding, and there’s no surprise about where the escapees are going. The top two destinations are Florida and New Hampshire, both of which lack an income tax.
One irony is that New England states, which are typically Democratic when it comes to federal elections, sometimes choose GOP governors to hold down state taxes. But Mr. Baker isn’t running for re-election and Democrats are likely to retake the governorship. The constitution’s flat rate mandate is a crucial limit on the demands of interest groups for ever-more spending.
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