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Local economists support push for new revenues

Citing the need to improve the long-term economic strength of the Commonwealth, more than fifty economists from across Massachusetts released a statement calling for increased investments in education and transportation financed through an increase in the personal income tax. 

“As economists, we believe that these investments are critical to improving the long-term economic strength of our state,” they wrote in a statement released on March 11. “We also realize that these goals cannot be attained without additional state revenue. As such, we support increasing personal income tax revenue because it is the most equitable and effective way to raise the sizeable funds needed.”

In addition to the important long term benefits to the state economy from these investments, the economists noted the likely positive short term effects, writing that “in the short term, government investment coupled with increased taxes will boost overall economic growth as lower after-tax individual income resulting from higher taxes will be more than offset by higher public investment spending in the Commonwealth.”

The statement concluded, “over the long term, these investments will increase state economic growth and well-being through increasing the productivity of our workers, lowering business costs and the personal cost of living, and attracting private investment that seeks a well-educated workforce and transportation infrastructure that works.”

The economists signing onto the statement include:

Randy Albelda, University of Massachusetts Boston
Jack Amariglio, Merrimack College
Michael Ash, University of Massachusetts Amherst
M. V. Lee Badgett, University of Massachusetts Amherst
Deepankar Basu, University of Massachusetts Amherst
Carole Biewener, Simmons College
Barry Bluestone, Northeastern University
James Boyce, University of Massachusetts Amherst
Robert Buchele, Smith College
Jim Campen, University of Massachusetts Boston
Michael Carter, University of Massachusetts Lowell
Alan Clayton-Matthews, Northeastern University
James Crotty, University of Massachusetts Amherst
Anita Dancs, Western New England University
Peter Doeringer, Boston University
Gerald Epstein, University of Massachusetts Amherst
Kade Finnoff, University of Massachusetts Boston
Nancy Folbre, University of Massachusetts Amherst
Gerald Friedman, University of Massachusetts Amherst
Heidi Garrett-Peltier, University of Massachusetts Amherst
Daniel Georgianna, University of Massachusetts Dartmouth
Michael Goodman, University of Massachusetts Dartmouth
Neva Goodwin, Tufts University
Jon Gruber, MIT
Carol E. Heim, University of Massachusetts Amherst
Michael P. Johnson, University of Massachusetts Boston
Rajani Kannnepalli Kanth, Harvard University
Marlene Kim, University of Massachusetts Boston
Thomas Kochan, MIT
Charalampos Konstantinidis, University of Massachusetts Boston
Catherine Lynde, University of Massachusetts Boston
Arthur MacEwan, University of Massachusetts Boston
Julie Matthaei, Wellesley College
John Miller, Wheaton College
Fred Moseley, Mt. Holyoke College
Philip Moss, University of Massachusetts Lowell
Robert Nakosteen, Isenberg School of Management at UMass Amherst
Julie Nelson, University of Massachusetts Boston
Laurie Nisonoff, Hampshire College
Paul Osterman, MIT
Richard Parker, Harvard University
Prasannan Parthasarathi, Boston College
Karen Pfeifer, Smith College
Robert Pollin, University of Massachusetts Amherst
Helen Scharber, Hampshire College
Juliet Schor, Boston College
Barry Shelley, Oxfam America
Peter Skott, University of Massachusetts Amherst
Bryan Snyder, Bentley University
Peter Spiegler, University of Massachusetts Boston
Mary Huff Stevenson, University of Massachusetts Boston
Andrew Sum, Northeastern University
Robert Tannenwald, Brandeis University
David Terkla, University of Massachusetts Boston
Christian Weller, University of Massachusetts Boston
Brenda Wyss, Wheaton College
Andrew Zimbalist, Smith College

Affiliations are listed for identification purposes only and indicate no commitment on the part of the institutions themselves.

Click here to read the full statement.