NEW YORK – Massachusetts tax revenue rose just over 14 percent in September from a year ago, mainly because taxes paid by businesses and corporations leaped nearly 53 percent, the state Revenue Commissioner said on Monday.
“The September collection is a dramatic improvement from September 2009, which was down nearly 16 percent from the prior year,” the Commissioner said. A total of $2.016 billion in revenue was collected.
Two points germane to the gubernatorial race:
- The new Baker ads criticize Patrick for presiding over “deficits.” (In quotes because the budget has to be balanced.) OH NOES! That's what happens when the economy goes bad: Tax revenues go down. The idea that the budget shortfalls were caused by wild n' crazy spending is a joke.
- It would seem, at least from reading here, that some of the dissatisfaction with Patrick on the left has been with budget cuts to certain programs, especially for the most vulnerable. Revenue shortfalls make good news hard to come by, and electeds always want to be bearers of good news.
If it turns out funding can be restored (or that there's the prospect of such), do Patrick's people return to the fold? Do rebounding revenues “shore up the base”?
In any event, it's most welcome. We may be moving out of “crisis” mode to mere “stuck-in-the-mud”-mode economically.