March 8, 2005
Part V: Fiscal Responsibility, Tax Equity, & Public Stewardship
Amend the section on "Tax Fairness and Responsible Budgeting" to (1) reflect the importance of ensuring that tax revenues are adequate to pay for necessary programs, and (2) to close corporate tax loopholes opened during the Weld and Cellucci Administrations (underlined words have been added to the existing language):
"We believe that taxes should be fair and adequate and based on ability to pay
and. We believe that corporations doing business in Massachusetts should pay their fair share of taxes based on income earned in Massachusetts (Combined Reporting); that Massachusetts-based corporations doing business in States which do not levy an income tax should pay taxes on that income in Massachusetts (Throwback Rule); and that any tax breaks afforded to a business based on specific commitments to the Commonwealth by that business should be available to that business only upon demonstration from year to year that the business has, indeed, lived up to its commitments. We believe that budgets should be fiscally responsible and balanced without gimmicks. We note with pride the success of our Party in achieving these aims both here and in Washington. We oppose budgets that raid trust funds or rely on unrealistic economic and revenue forecasts in order to create the appearance of a balanced budget or to finance tax breaks."
Thank you for your consideration of my suggestions.
Fred Berman 25 Cherry St. Somerville, MA 02144
(W) 617-349-6209 (H) 617-776-0503 email: email@example.com