The best executives understand well the wisdom of both cutting and investing in a downturn. But they also understand you raise prices in the midst of a recession at your peril. The same could be said for raising taxes.That's how the Globe's Steve Bailey concludes his article on the budget unveiled today by Deval Patrick. Bailey's first impression: "He better have a Plan B in his back pocket."
If the governor has not noticed, a recession is upon us.Instead of lessening or at least maintaining the current tax burden on Massachusetts businesses, Deval Patrick's plans require a tax increase on the state's employers.
Ambition can be a good thing, and Patrick's plans are certainly ambitious if nothing else. Bailey on Patrick's "laundry list of new initiatives":
from increasing spending on education by $368 million to ending homelessness to upgrading the state parks - all worthy goals. I'd like a new car, too, but I can't afford it right now.Bailey thinks Patrick's DOA budget is a win for Sal DiMasi, who last year made short work of Patrick's proposed tax hikes on businesses:
A year later, with a recession of uncertain depth and duration upon us, DiMasi is looking smart.What's wrong with Deval?
Governor Patrick has an ambitious agenda. Unfortunately, right now he looks like a governor more suited for the late '90s, when all trees grew to the sky, than the challenging times we are facing.
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