1. If you enjoy the forum please consider supporting it by signing up for a NES Membership  The benefits pay for the membership many times over.

  2. Dismiss Notice

MA fiscal surplus...

Discussion in 'Off-Topic' started by mcshooter, Jul 30, 2019.

  1. mcshooter

    mcshooter NES Life Member NES Member

    Joined:
    Feb 22, 2014
    Messages:
    571
    Likes Received:
    349
    Location:
    South Shore MA

  2. Zappa

    Zappa Road Warrior NES Member

    Joined:
    May 14, 2008
    Messages:
    42,880
    Likes Received:
    12,745
    Location:
    Living Free In The 603
    Don't forget state and MBTA pensions.
     
  3. Spanz

    Spanz NES Member

    Joined:
    Feb 25, 2009
    Messages:
    28,188
    Likes Received:
    12,940
    you mean they are NOT gonna refund it to the taxpayers?
     
    Dennis in MA likes this.
  4. quincy

    quincy NES Member

    Joined:
    Sep 20, 2011
    Messages:
    2,072
    Likes Received:
    484
    Location:
    Quincy MA
    Any state budget surpluses should and need to be be directly funneled to Marty Meehan to be used at his discretion.
     
  5. June4th

    June4th NES Member

    Joined:
    Feb 17, 2008
    Messages:
    3,886
    Likes Received:
    2,207
    Location:
    SE MA
    How ‘bout fix’n some of those potholes?
     
    amm5061 and mcshooter like this.
  6. appraiser

    appraiser NES Member

    Joined:
    Mar 14, 2008
    Messages:
    8,851
    Likes Received:
    2,154
    I assure you the State will NOT be adding public funds to the PRIVATE MBTA pension plan above what they are contractually obligated to by collective bargaining agreements.
     
    andrew1220 likes this.
  7. Penniepup1

    Penniepup1 NES Member

    Joined:
    Apr 5, 2014
    Messages:
    2,670
    Likes Received:
    2,193
    Location:
    The “good” section of Lynn
    [laugh2][rofl][laugh2][rofl]
     
  8. Christian

    Christian

    Joined:
    May 23, 2013
    Messages:
    3,028
    Likes Received:
    866
    Location:
    Rt.3, 1/2 way between Boston and the Cape
    Cut me a check for that amount and they can buy back my scary black rifle.
     
    JayMcB likes this.
  9. appraiser

    appraiser NES Member

    Joined:
    Mar 14, 2008
    Messages:
    8,851
    Likes Received:
    2,154
    If anything it will go into the "rainy day fund" for future use when revenues do not meet projections.

    I wonder if Baker is going to take credit for the strong economy, etc etc etc that made the fees and tax revenue exceed projections?
     
  10. Broccoli Iglesias

    Broccoli Iglesias NES Member

    Joined:
    Sep 18, 2010
    Messages:
    18,865
    Likes Received:
    6,376
    Location:
    Suckachusetts
    WAIT ... we have a SURPLUS of $1B???
     
  11. Asaltweapon

    Asaltweapon NES Member

    Joined:
    Dec 21, 2008
    Messages:
    11,520
    Likes Received:
    4,319
    Location:
    Northern Mass
    NFW. No tax free holiday for you!!!
     
    Mountain likes this.
  12. Len-2A Training

    Len-2A Training Instructor Instructor NES Life Member NES Member

    Joined:
    Feb 26, 2005
    Messages:
    50,790
    Likes Received:
    8,176
    Location:
    Escaping to NH
    [laugh2] [rofl] [rofl]
     
  13. Dennis in MA

    Dennis in MA NES Member

    Joined:
    Feb 12, 2007
    Messages:
    15,046
    Likes Received:
    6,805
    You know, if the surplus isn't at least $50B, we are in distress. I call for increasing every single tax and fee in the state, Mitt Romney style. Just to be safe, you know.
     
  14. amm5061

    amm5061 NES Member

    Joined:
    Jun 20, 2016
    Messages:
    6,291
    Likes Received:
    3,885
    Location:
    Holliston, MA
    Okay, who didn't skim enough off the top this year? Clearly someone's holding back on the graft!
     
  15. JackOfAllTrades

    JackOfAllTrades

    Joined:
    Jul 5, 2013
    Messages:
    753
    Likes Received:
    392
    Wait, didn't I hear someone complaining about a budget shortfall and having to raise taxes or some such nonsense just a few weeks ago? Now we have $1B sitting around?
     
  16. Broccoli Iglesias

    Broccoli Iglesias NES Member

    Joined:
    Sep 18, 2010
    Messages:
    18,865
    Likes Received:
    6,376
    Location:
    Suckachusetts
    You didnt hear that. Move along, nothing to see here.

    *calls the swat team*
     
  17. HARRYM

    HARRYM NES Member

    Joined:
    Dec 14, 2013
    Messages:
    1,371
    Likes Received:
    1,051
    Location:
    Massachusetts/NH
    So MA took in 1 Billion more than they budgeted for the recently ended fiscal year. Just 1 yr, doesn't change the structured debt of $125 to $150 Billion that is "owed" to future obligations.
     
  18. richc

    richc NES Member

    Joined:
    Oct 21, 2008
    Messages:
    14,140
    Likes Received:
    10,161
    Location:
    metro west
    According to my very limited research, MA has about $97B in state and local debt. When we divide that by the 6.9 million people who live in this state, we find each of our fine citizens owes over $14,000 in debt on behalf of the state. And that does not count unfunded liabilities.

    Of course it's worse than that. If you back out children and those without the ability to pay, well, BOHICA...

    And that doesn't count our lovely federal debts, which put the state ones to shame.

    FYI MA's debt per resident is 3rd or 4th worst in the country.
     
  19. GaryO

    GaryO NES Member

    Joined:
    Aug 15, 2006
    Messages:
    10,981
    Likes Received:
    2,888
    Location:
    Franklin
    We'll get profit sharing checks, won't we?
     
    JayMcB likes this.
  20. powerman

    powerman NES Member

    Joined:
    Sep 25, 2009
    Messages:
    1,035
    Likes Received:
    249
    Location:
    Eastern, MA
    yes Charlie will say that we have such a good business environment because of him.

    I wonder were all this money came from, people paying taxes on earnings maybe? because a good economy?
     
  21. appraiser

    appraiser NES Member

    Joined:
    Mar 14, 2008
    Messages:
    8,851
    Likes Received:
    2,154
    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXx

    For the second consecutive year, Massachusetts has racked up a sizeable year-end budget surplus.


    State Revenue Commissioner Christopher Harding says a preliminary accounting of the fiscal year that ended June 30 shows the state collected $29.7 billion in taxes, exceeding projections by more than $1 billion.

    Tax collections were up nearly 7% over the previous fiscal year, in which the state also finished with a $1 billion surplus.

    Harding says nearly all of the increase was driven by higher capital gains and corporate tax collections. The state will deposit $848 million in capital gains receipts into its so-called rainy day fund.
     
  22. Varmint

    Varmint NES Member

    Joined:
    Jul 5, 2014
    Messages:
    11,221
    Likes Received:
    3,558
    Location:
    North Shore, MA
    Good illustration for why it's so important for governments (federal and state) to keep the stock bubble inflated with Fed easy money.
     
  23. HorizontalHunter

    HorizontalHunter NES Member

    Joined:
    Jun 23, 2009
    Messages:
    4,084
    Likes Received:
    1,898
    Location:
    Western Massachusetts
    One thing for sure is that they aren’t going to use it to pay down the debt.

    They better put it aside to help pay for the settlements from the RMV tragedy/fiasco.

    Bob
     
  24. rocket500

    rocket500 NES Member

    Joined:
    Jul 9, 2012
    Messages:
    2,787
    Likes Received:
    680
    They should be running surpluses, the economy in MA is cranking. I was driving into Boston this AM and it’s cranes piled on top of cranes. It’s like the gold rush.
     
  25. Broccoli Iglesias

    Broccoli Iglesias NES Member

    Joined:
    Sep 18, 2010
    Messages:
    18,865
    Likes Received:
    6,376
    Location:
    Suckachusetts
    All the companies that started the building permit process in 2009.
     
    Len-2A Training and JayMcB like this.

Share This Page