Page 18 THE REVERE ADVOCATE – FRIDAY, JULY 14, 2023 Report: Mass. is one of two states to see personal income drop New data shows personal income levels dropped as millionaire’s tax was enacted N ew data from the Bureau of Economic Analysis (BEA) released at the end of June shows Massachusetts and Indiana were the only two states in the entire country to see personal incomes drop during the fi rst quarter of 2023. During that time, the U.S. percentage change increased by 5.1%. In New England, Maine topped the nation at 11.4%; New Hampshire ranked 29th best at 6.1%; Vermont at 30th best at 6%; Rhode Island at 33rd cut at 36th Massachusetts at 49th best at 5.8%; Connectibest at 5.5%; and best at -0.9%. For comparison’s sake, Florida was 10th best at 7.9%. To read more about BEA’s data, go to https://www.bea. gov/news/2023/gross-domestic-product-state-and-personalincome-state-1st-quarter-2023 According to BEA, “Transfer receipts increased in 45 states and the District of Columbia, while growing 6.1 percent nationally. The growth in transfer receipts reflected an 8.7 percent increase in the costof-living adjustment for social security benefi ts. The percent change in transfer receipts ranged from 38.5 percent in Maine to –31.1 percent in Massachusetts (table 4). Transfer receipts was the leading contributor to growth in personal income in Maine, the state KOWLOON | FROM Page 13 During the show, Jim Tirabassi, Founder and Director of R4V, had a conversation with someone who brought up an issue with some local Vets lacking proper housing, due to bizarre circumstances. This bothered him greatly, and he talked to Kowloon Manager, Bobby Wong, about the possibility of doing some more shows to do what they could to help with these type problems. The consensus was if something could be put together within a short window of time, to help; do it! The series of three shows was set up featuring renown New England based performers, starting with Barry Goudreau’s Engine Room, followed by the James Montgomery Band’s 50th Anniversary celebration with Barrence Whitfield and the with the largest increase in personal income in the first quarter. It was also the leading contributor to the decrease in personal income in Indiana and Massachusetts. Transfer receipts in all three states were impacted by one-time state refundable tax credits.” During the last two quarters of 2022 and the fi rst quarter of 2023, there were 18 states that enacted some form of a taxpayer refund. Massachusetts was among them due to the 1986 voter-approved law known as 62F, which was triggered during the fourth quarter of 2022. During the fourth quarter of last year, 62F was responsible for a 12% increase in the share of “personal current transfer receipts from refundable tax credits,” the highest percentage in the nation during that quarter. This information may be found at https://www.bea.gov/technicalnote-personal-income-state1st-quarter-2023 “This new data is stark for Massachusetts taxpayers and should be a very clear warning to State House lawmakers. While the nation benefi ted from rising incomes, and 48 other states experienced income growth, Massachusetts was nearly alone in its decline. At the same time, the income surtax amendment was enactseries was closed out by Jon Butcher with special guest Sal Baglio. With a hunger for quality entertainment, a great location and a worthy cause, the series named “Concerts for a Cause” was very successful and raised a substantial amount of money to assist groups dealing with homelessness in the Vets population in the surrounding areas. 2022, was the reach for a larger number of shows, but nature turned her nose up on us, creating conditions that made several shows very diffi cult to do. There was a day in June where the temperature was in the high 30’s and the next week the temperature on the stage the morning of the show was 105. Some cancellations were forced upon us due to such conditions. We also had a specifi c show, we postponed two times due to reports of severe thunderstorms, U.S. Bureau of Economic Analysis graphic ed and began to have a clear impact on the state economy and our uncompetitiveness. In the New England region, every state saw income growth with Maine the highest in the country and New Hampshire the second highest in New England,” said Spokesperson/ Board Member Paul D. Craney of the Massachusetts Fiscal Alliance (MassFiscal). “BEA data also shows that the voter approved tax cap and rebate law known as 62F had an economic benefi t to Massachusetts taxpayers during the last which did not materialize either time, but once again nature had its way, the date we fi nally got the show set for, was scheduled to be a beautiful sunny one, but not to be discounted three hours prior to the show the skies opened to a torrential continuous downpour. But as in epic fables, good triumphed over evil and we were able to make contributions to several organizations. This year, the decision was made to go back to a simple formula, Boston’s best of the classic rock and blues performers over the last several decades. So tried and true favorites will be coming back to the stage, some a little diff erent, to present something unique for this summer series. July 16 - Barry Goudreau’s Engine Room (prior to their run of opening shows for the Hollywood Vampires) quarter of 2022. During that time period, it was the most benefi cial tax rebate program in the country and it was the only form of tax relief for Massachusetts taxpayers because Speaker Ron Mariano and Senate President Karen Spilka refused to pass any legislative tax relief last year and they continue to do the same this year. Speaker Mariano is even going as far as trying to change 62F so it becomes less eff ective and nearly impossible to be enacted,” continued Craney. “This data can only be interJuly – The Johnny A. Trio Aug 6 – Jon Butcher & Friends w/special guest Sal Baglio Aug 13 – The James Montgomery Rhythm & Blues Revue w/Christine Ohlman and Barrence Whitfi eld Aug 20 – Dyer, Goodwin, Chakour w/special guest Brian Templeton For 2023 the organizations that will be benefitting from these shows, and will be present at them, for any Vets seeking or knowing of anyone seeking assistance, will be Hidden Battles, Massachusetts Military Support Foundation, Veterans Northeast Outreach Center, Boston Rescue Mission22 Mohawks. For more info about these shows you can go to www. facebook.com/Rockin4Vets or email jim@alivenkickingprod. com For Advertising with Results, call The Advocate Newspapers at 781-286-8500 or Info@advocatenews.net preted one way; Massachusetts is in trouble. Governor Maura Healey, Speaker Ron Mariano, and Senate President Karen Spilka need to wake up to these warnings that continue to focus on Massachusetts high taxes and uncompetitivess,” fi nished Craney. MassFiscal strongly urges Governor Healey and lawmakers to pass tax cuts, not water down or change 62F, and reject any attempts to enact a marriage penalty, which would apply the millionaire’s tax to non-millionaires. REVERETV | FROM Page 15 ebrating 90 Years of Kong,” which you will see refl ected in the center sculpture. Watch the Community Channel over the next few weeks to see a marathon of coverage from years past. This year’s updates will be posted to the channel and social media in a timely manner and will then replay throughout the summer. All of the events and programs mentioned in this article can be watched on the RevereTV Community Channel. There, you will see all community programming, event coverage and shows produced in partnership with RTV. On Comcast, this channel is 8/1072, and on RCN it is 3/614. RTV GOV is the channel with all local government meetings, which is 9 on Comcast and 13/613 on RCN. People who do not subscribe to cable can access RevereTV event coverage, meeting recordings, and programs on YouTube.
19 Publizr Home