We have a Republican governor in Massachusetts running for reelection. Governor Baker is a big time Trump hater. Massachusetts has had two bad governors in a row so nothing gets done other than more taxes and people leaving the state. The interesting advertisements by Baker deal with more jobs created (yes, he takes credit for the Trump economic boom) and a financial surplus of one billion dollars.
Surpluses never happen in Massachusetts. What is this one all about???? Well, we all know the Trump tax bill allows USA corporations to bring back money kept over seas at a now reduced taxed rate. There was a news item two or three months ago that stated these corporations had brought back $351 B (Billion). Probably more now as more time has passed. It has been a bonanza. I don't think the tax rate is responsible by itself for these actions. The USA capital investment rate is now estimated to be over 10% (I saw another number at 8.5%) because the USA is growing very nicely while Europe is still growing, but at a slowing growth rate that is declining quickly. China's stock market is moving downward very quickly as well with a 50% drop vs 2015 and a 20% plus drop since the tariff conversations started.
But here is my point. The high tax states also have a tax on the monies brought back into the USA. These states did not drop their taxing rate on the returned monies. So they all got a wind fall of extra taxation. So Charlie Baker, governor of Massachusetts., got a 1.2 billion dollar surprise. But yet he has the guts to say he did it. This is just another example of the guts these do nothing politicians can claim and look their voters straight in their face doing so. Connecticut is worse. It got a 3 billion dollar surprise. What did your state get? 95% of the voting public have not an idea of what is going on.
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