Governor Deval Patrick’s proposed plan to hike income taxes to cover new increases in spending is counterproductive and will not promote economic growth (“Patrick pushes for tax hikes,” Page A1, Jan. 15). High taxes encourage the wealthy to move to lower-taxed states, bringing much of their income, capital, and ultimately tax revenues with them.
In the past 10 years 10 states have taken steps to lower or eliminate their income tax in order to spur economic growth. These states have seen greater economic growth and job creation than states increasing their tax rates.
Instead of increasing income taxes, a source of revenue that fluctuates greatly and hinders economic growth, legislators in Massachusetts should focus on policies that decrease both spending and tax rates.