Thursday, November 17, 2005

Retroactive Taxes Will Be An Issue

The Arlington Advocate:
A growing number of Democrats may be poised to join Gov. Mitt Romney and
other Republicans in the campaign to roll back a retroactive capital gains tax
assessment about to hit tens of thousands of Bay Staters.
The Department of Revenue is in the process of mailing out bills informing nearly 50,000 taxpayers that, as the result of a Supreme Judicial Court ruling that lawmakers had illegally raised the capital gains tax in mid-2002, they must now come up with an estimated $175 million in back taxes.

"It's morally wrong and reprehensible to go back retroactively," said Assistant
Minority Leader George Peterson of Grafton.


Some speculate that a growing number of Democrats may support the governor's bill as they hear from more and more constituents angered over their mail from the Revenue Department.

I think it would be a smart strategic move for the Democratic candidiates for Governor to support the roll back of these taxes and not go back and retroactively tax someone. People who get hit with this will remember it. Come on Deval. Beat Reilly to the punch.


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