Notice: Undefined index: HTTP_REFERER in /home/stparch/public_html/headmid_temp_main.php on line 4394
Newspaper Archive of
Barnstable Patriot
Barnstable, Massachusetts
HOME Browse Search List Of All Titles New! Global Image Search
Free Search  Subscribe  Sign In
December 26, 2014     Barnstable Patriot
PAGE 3     (3 of 27 available)        PREVIOUS     NEXT      Jumbo Image    Save To Scrapbook    Set Notifiers    PDF    JPG
© Publisher. All rights reserved.     Upgrade to access Premium Tools
 
PAGE 3     (3 of 27 available)        PREVIOUS     NEXT      Jumbo Image    Save To Scrapbook    Set Notifiers    PDF    JPG
December 26, 2014
 
Newspaper Archive of Barnstable Patriot produced by SmallTownPapers, Inc.
Website © 2025. All content copyrighted. Copyright Information
Terms Of Use | Privacy Policy | Request Content Removal | About / FAQ | Get Acrobat Reader




Taxcut comingJan.1 By Gerry Tuoti Patriot Statehouse Bureau While taxpayers will likely welcome the income tax cut that takes effect Jan. 1, the state gov- ernment is scrambling to make up a revenue shortfall. The personal income tax is dropping from 5.2 percent to 5.15 percent, saving the average taxpayer approximately $19 and costing the state an estimated $70 million in lost revenue in fiscal 2015. The Massachusetts Taxpayers Foundation projects a total state budget deficit of more than $1 billion. A state law aimed at incre- mentally decreasing the income tax to 5 percent is the reason behind the tax cut. When the state hits certain economic benchmarks, the income tax is automatically reduced by 0.05 percent. One benchmark, for example, was reached when state tax revenue for the previ- ous fiscal year grew 2.5 per- cent faster than inflation. The automatic trigger also resulted in decreases in fiscal 2012 and 2014. Barbara Anderson, executive director of Citizens for Lim- ited Taxation, said the tax cut is about holding lawmakers responsible. She referenced a 1989 tax hike that was pitched as a temporary measure to over- come a budget deficit. While $19 is unlikely to make a major difference to most tax- payers, she welcomes it. "We'll take what we can get," she said. In 2000, voters approved a ballot question calling for the state to drop the income tax from 5.85 percent to 5 percent over a three-year span. "Then the legislature was in another fiscal crisis and froze it at 5.3 percent, and it wasn't going to take its final drop," Anderson said. "But they said again that when the economy picks up and we can afford it, we will drop by half of one per- cent until get to 5 percent.We objected to that. And here we wait for the promise of 1989that it would be brought back to 5 percent." Noah Berger, executive direc- tor of the Massachusetts Budget and Policy Center, said tax cuts from the late 1990s and early 2000s are costing the state an estimated $3 billion in annual revenue today. "Since then, we've seen deep cuts in funding for higher edu- cation, making it harder for stu- dents to afford college,"he said. "We've seen cuts in Early Edu- cation and Care and in public health, and we've seen cuts of over 40 percent of local aid." He favors a progressive tax code that would shift more of the tax burden to wealthier residents. When combining all taxes, not just the income tax, wealthierresidents typically end up spending a lower percentage of their income on total taxes, he said. Since Massachusetts has a flat tax rate for its personal income tax, the wealthiest residents will see the most benefit. The middle 20 percent, earn- ing an average income of $58,000, will get an average tax cut of $19. People earning $168,000will save an averageof $66. The top 1 percent of earn- ers, making an average of $2.4 million in annual income, will see an average savings of $936, according to the Massachusetts Budget and Policy Center. The economic trigger that automatically lowers the income tax rate, Berger said, can make the state budget process unpre- dictable. Berger argues that strategic public investment is the way to achieve economic growth. "Because the state needs a balanced budget, the most effective way to strengthen the economy is to invest in things that improve productivity, like education and infrastructure," hie said."Direct spending in the economy helps because con- struction workers and teach- ers can spend their salaries on goods and services.These types of investments, particularly in the short term, but also in the long term, have a more positive impact on the economy than tax cuts on high-income people." Anderson favors the flat tax, saying it spurs job creation. She said better fiscal management and policy reform is the way to balance the budget without rais- ing taxes. MJfflllllBliilJ S SI M ^ H rrmftij TJi TfflfR ^@BV§| m^^mmm^w ] NEW2015 ' | nWMoll! Ilfllli™ (Mil Hill America 's Safest Jgm ^0^^-^^W^L , ^^^ K ^^- 5 Star Safety Rated I \ See dealer for down payment and full pricing details. Tax, title, registration, doc and acquisition fees, and insurance fees are not included. Must finance through Mitsubishi Motors Credit of America. Available with approved credit. JHIIUIIl ! IIIIIUI IW!IOW*»^owp»OJ ^^ ran ! i ! » i i ]auw^B Minllf alnltPii.. WRm •MSI* ffifflm llllllfO I I SIWSfTYdB m^Mwfl^ft BM W ^jjijia S SaH iF"Mofi pftiioti11 ^ i ftiri I HLi iloB ¦ I BJLK9 Wf*& , I fc. i.r'fronT^ ^mSP-W ^ ^ ^^ ^ ^ M^ L " "1 E \uk m^kW- & ' ^1 t oio^Ho^oio^O^oBHoflBP^ j^T T ^ B^^^ kW "^JF *v o^o^ Saoii^oliotHMoVwMioaonMJ m^^^^^^^^^B^m. \ | ^H f l £ i j^ti'^^ jff *nHiwloMl ¦ H o W o ^ + GAPE & ISLANDS '^m^ ^MITSUBISH I H i B 760 ROUTE 28 SOUTH YARMOUTH, MA 508r394-8000 ; CAPEMITSU.COM END OF SEASON CLEARANCE ALL 50% OFF ITEMS NOW t^THESHOESALON ™ TJTnWr ) X ^^ FINE FOOTWEAR # 1l" A f t I l l o lK A ^__^ & ACCESSORIES g \ f /O W ¦¦ Pennies'change'the holidays BISstudents raise $1,800 for families in need By Kathleen Szmit tonriit@barnstablepatriot.com KATHLEEN SZMIT PHOTO HUGE IMPACT - Barnstable Intermediate School Guidance Coun- selor Kathleen Murtaugh shows off a check for $1,868 raised by seventh grade teams in support of families in need. Anyone who doesn't think a penny or two, or a few hundred , can make a difference hasn't visited Barnstable Intermedi- ate School recently. In a mat- ter of weeks students on three seventh grade teams raised enough money through dona- tions of coins - and a few bills -to ensure a happy holiday sea- son for the families of students in need. On Dec. 18the Grade 7 teams of 7H , 7J and 7K gathered for a special celebration dur- ing which it was revealed that through their coin-collecting efforts they had raised $1,868. An anonymous donor pushed the final amount above $2,000, all of which benefited the BIS Need y Fund , a program that sponsors families and students during the holiday season. Princi pal James Anderson estimated the sum would lend support to more than 30 fami- lies with students at the school. "It helps the families so the children can experience pres- ents and additional holiday joy," Anderson said. Anderson said that nearly 300 Grade 7 students began what is dubbed the annual "penny war" several weeks ago with a set of specific rules. Pennies added points to each team 's totals , while silver coins and bills sub- tracted points. Because each team was vying to be the best, motivation was high to add bills to opposing teams' penny jars. In the end everyone wins, since the ultimate goal is to raise money. "They raised more than $350 in pennies alone ," Anderson said. Someone else also added a $100 bill to one of the penny jars. The annual fundraiser is something student teams have done on a smaller scale in the past.This year the seventh grad- ers decided to up the ante, tak- ing the project from six home- rooms to 12. Anderson said the penny war was one of several fundraisers taking place at the school. The students, he said, truly enjoy the feeling of helping others. "Watch their faces,"he said. "When the check is presented , watch the pride and humility. The recognition. It's the work that should be done." Guidance Counselor Kath- leen Murtaugh held the final check aloft and , with emotion in her voice , shared with stu- dents the significance. "We have a lot of children in our community that go hungry," she said. "This is a huge, huge deal. "Every year this effort gets bigger." In the end the 7H team of Susan Sweeney was the cham- pion of the penny war, raising the most money, followed by Mick Carlon's 7J team , and then the 7K team of Melissa Stampfl. Carol McKenna 's homeroom donated the most pennies. "I think this morning is one of my favorites of the year," Anderson said. "It feels really good ," said 7J student Hannah Roderick. "Not as many people are going to be hungry. It just feels really good." "It's an exhilarating feeling knowing that people who don't have much, that we gave them something,"said Hannah Col- antuono, also of 7J. "It makes me feel really happy."