Self-Inflicted Wounds: Tax Cuts

Here's the full report on the financial state the Commonwealth is in.
The report is long, but the point is simple: the impact of tax cuts was masked by increased revenue from the dynamic business climate of the 1990's. In what seems now like a super-charged economy, personal and business income was up. Though the tax rate declined, there was more taxable income. When the economy declined, there wasn't enough money to pay for services.


http://www.massbudget.org/tradingplaces.pdf