In The News: Taxes

Michael J. Widmer, president of the Massachusetts Taxpayers Foundation, said the small reduction announced yesterday is a positive step toward meeting the 5 percent promise, but acknowledged there is a price to be paid. “On the other hand, given the realities of 2013, this will likely mean additional budget cuts,’’ he said.

“Cities and towns are facing a permanent fiscal squeeze, in which costs are rising faster than revenues,’’ said Michael Widmer, president of the foundation.

Michael Widmer, president of the business-backed Massachusetts Taxpayers Foundation, described Romney's jobs record as "mixed," saying Romney failed to take the long view in his planning. "The administration never really put together an overall economic development strategy to improve the state's economic competitiveness," he said. "They did bits and pieces but they never really had an overall game plan."

However, by 2005, when Mr. Romney proposed his third round of corporate tax loophole closings, “frustrations had reached a boil,” said Michael J. Widmer, president of the Massachusetts Taxpayers Foundation.

Michael Widmer, president of the Massachusetts Taxpayers Foundation, in April called the state's film industry tax policies the “classic bad bet,” adding that he equates movie-making in Massachusetts, and the outflow of tax benefits, with laying off teachers and cutting services.

"People either delay or accelerate their purchases to that weekend," said Michael Widmer, president of the business-backed Massachusetts Taxpayers Foundation. "There have been various studies over the years about the impact of sales-tax holidays that all conclude there doesn't seem to be any significant additional economic activity."

Massachusetts Taxpayers Foundation President Michael Widmer said yesterday the collections make it likely the tax cut will take effect and said he believes the reduced tax rate should not be blocked. Voters more than a decade ago ordered a 5 percent income tax but lawmakers froze the rate cut in 2002.

Michael Widmer, president of the business-backed Massachusetts Taxpayers Foundation, believes broad-based tax incentives are crucial to the state's economy. He is dubious, however, of grants and tax breaks that are awarded to individual companies. "I think it's highly risky to pick selected companies, like an Evergreen Solar, and bet on them," said Widmer. "In the case of Evergreen, they had never even earned a profit, and the state committed $58 million to them. That's a huge risk."

The holiday's impermanency is certainly welcomed by its critics, such as Massachusetts Taxpayers Foundation president Michael Widmer. He says the expense makes the holiday a frivolous, feel-good measure, at best, during good fiscal times.

The holiday’s impermanency is certainly welcomed by its critics, such as Massachusetts Taxpayers Foundation president Michael Widmer. He says the expense makes the holiday a frivolous, feel-good measure, at best, during good fiscal times.