Taxachusetts no more?
It’s funny, I’ve been thinking about the “Taxachusetts” label, especially after a reader used it in a comment (see “Stand gets a plug” below). I heard that a lot as a kid, and when I was a teenager, my Libertarian parents left the state to escape taxes and liberal politics, relocating to Maine. In the Boston Globe on Friday, I read that for the second year in a row Massachusetts is ranked 28th in the nation in terms of local and state taxes as a percent of income. In New England, the tax burden is higher in every state except, predictably, New Hampshire. Ironically, Maine’s tax burden is among the highest in the nation, at 14%. Massachusetts, largely because of its flat income tax, comes in at 10.6%, but it will always be Taxachusetts to some. It’s interesting how the label outlives the stereotype.
posted in In the News, Money Matters | 3 Comments