ROMNEY’S ECONOMIC RECORD IN MASSACHUSETTS: “ONE OF THE WORST IN THE COUNTRY”“We really haven’t had a turnaround … We’re trailing the nation in job growth. Our job growth has been anemic.”
— Massachusetts Taxpayers Foundation President Michael Widmer
Under Romney, Massachusetts’ Economic Performance Was “Weak … One Of The Worst In The Country”
“As Mitt Romney pursues his bid for the presidency, his record as Massachusetts governor will come under scrutiny, including how the state’s economy performed during his administration. Our analysis reveals a weak comparative economic performance of the state over the Romney years, one of the worst in the country.” (Andrew Sum and Joseph McLaughlin, Op-Ed, “Romney’s Economic Record,” The Boston Globe, 7/29/07)
· Cato Institute Graded Romney A “C” For His Fiscal Performance As Governor. (Cato Institute Website, www.cato.org, Accessed 1/21/07)
Under Romney, Massachusetts’ Job Growth Was “Anemic,” Ranked Third-Worst In The Country
Under Romney, “On All Key Labor Market Measures, The State Not Only Lagged Behind The Country As A Whole, But Often Ranked At Or Near The Bottom Of The State Distribution.” “On all key labor market measures, the state not only lagged behind the country as a whole, but often ranked at or near the bottom of the state distribution. Formal payroll employment in the state in 2006 was still 16,000 or 0.5 percent below its average level in 2002, the year immediately prior to the start of the Romney administration. Massachusetts ranked third lowest on this key job generation measure and would have ranked second lowest if Hurricane Katrina had not devastated the Louisiana economy.” (Andrew Sum and Joseph McLaughlin, Op-Ed, “Romney’s Economic Record,” The Boston Globe, 7/29/07)
· Job Growth Under Romney “Anemic.” “‘When he talks about a turnaround, we really haven’t had a turnaround,’ said Michael J. Widmer, president of the Massachusetts Taxpayers Foundation, a nonpartisan organization that analyzes state economic policies. “We had a temporary fiscal respite. But we’re trailing the nation in job growth. Our job growth has been anemic.” (Pam Belluck, “Romney Candidacy Puts Massachusetts Economy In Spotlight,” The New York Times, 3/16/07)
Under Romney, Massachusetts’ Manufacturing Jobs Declined At Double The National Rate — Third Worst Record In The Country
Under Romney, Massachusetts Manufacturing Job Declined By More Than 14 Percent — Double The National Rate. “Manufacturing payroll employment throughout the nation declined by nearly 1.1 million or 7 percent between 2002 and 2006, but in Massachusetts it declined by more than 14 percent, the third worst record in the country.” (Andrew Sum and Joseph McLaughlin, Op-Ed, “Romney’s Economic Record,” The Boston Globe, 7/29/07)
Under Romney, Taxes In Massachusetts Increased More Than $700 Million Per Year
Massachusetts Taxpayers Foundation: More Than $700 Million Per Year In Increased Taxes And Fees Under Romney. “Fees and taxes have increased more than $700 million a year under Governor Mitt Romney and Lieutenant Governor Kerry Healey, a leading budget specialist said yesterday. Michael J. Widmer – president of the Massachusetts Taxpayers Foundation, which closely tracks state finances – said the state has raised roughly $740 million to $750 million per year by increasing fees and corporate taxes gained from what the Romney administration describes as ‘closing loopholes.’” (Brian Mooney, “Analyst Puts Increase In Fees, Taxes At $700m,” The Boston Globe, 9/27/06)
· “[R]omney … Approved Hundreds Of Millions In Higher Fees And Fines Including Raising The Cost Of Getting A Marriage License, Filing A Court Case, Buying A House Or Renewing A Drivers License.” (Steve LeBlanc, “Romney, In Change Of Heart, Signs No-New-Taxes Pledge,” The Associated Press, 1/5/07)
· “A 2003 Survey Of States By The National Conference Of State Legislatures Found Massachusetts Imposed At Least $501.5 Million In Fee Hikes, Far More Than Any Other State In The Nation That Year.” (Steve LeBlanc, “Romney, In Change Of Heart, Signs No-New-Taxes Pledge,” The Associated Press, 1/5/07)
· Cato Institute: Romney’s Rhetoric On Taxes “Mostly A Myth.” “[R]omney will likely also be eager to push the message that he was a governor who stood by a no-new-taxes pledge. That’s mostly a myth. His first budget included no general tax increases but did include a $500 million increase in various fees. He later proposed $140 in business tax hikes through the closing of ‘loopholes’ in the tax code.” (Stephen Slivinski, “Fiscal Policy Report Card On America’s Governors: 2006,” Cato Institute, 2006, p. 26)
Under Romney, Massachusetts Turned Into “Taxachusetts”
The Boston Globe: Romney’s Fee Increases “May Have Enhanced [Massachusetts’] Reputation As ‘Taxachusetts.’” “This time it’s fees, not taxes. Still, Massachusetts may have enhanced its reputation as ‘Taxachusetts.’ A survey of states grappling with spending crises has found that Massachusetts imposed more fee hikes than any other state in the nation this year — at least $500 million. Governor Mitt Romney and the Legislature, faced with a multibillion dollar shortfall, made it more expensive to get a marriage license or a divorce, file a court case, buy a house, renew a driver’s license, or tap into a host of other state services.” (Rick Klein, “Mass. Is Called No. 1 In Fee Hikes,” The Boston Globe, 7/24/03)
Under Romney, Who Refused To Endorse Bush Tax Cuts, Higher Taxes Eliminated Benefits Of Bush Tax Cuts
Boston Herald: Romney “Refused To Take A Position On Bush’s Massive, 10-Year Tax Cut Plan.” “[R]omney spoke at the 10th annual legislative conference organized by U.S. Rep. Martin T. Meehan (D-Lowell) and met with the Massachusetts delegation. … Congressional sources said that a point of contention arose when Romney refused to take a position on Bush’s massive, 10-year tax cut plan. Lawmakers told him that the state is unlikely to get the additional homeland security funds they and the governor are requesting because the money will go to the tax cut. But Romney would not discuss the matter, sources said.” (Noelle Straub, “Romney Talks Policy With Bush Staffers, Mass. Delegation,” The Boston Herald, 4/11/03)
Free-Market Beacon Hill Institute: Romney’s Fee Increases “Not Only Diminish, But, For Some People, Even Eliminate” The Benefits Massachusetts Residents Received From President Bush’s 2003 Tax Cuts. “If the Bush tax cuts revive the stalling economy they will do so in spite of the large fee increases levied by states across the U.S. with Massachusetts leading the way. If anything, these state fee increases not only diminish, but, for some people, even eliminate, the tax cuts passed by Congress and signed by the President.” (Christopher Boyd, “Fees Put A Crimp On Tax Cuts,” Beacon Hill Institute’s NewsLink, Vol. 8, No. 1, Fall 2003)
Under Romney, Massachusetts’ State Business Tax Climate Ranking Fell 11 Spots
According To The Tax Foundation, Massachusetts State Business Tax Climate Ranking Fell 11 Spots, From 26 In 2003 To 37 In 2007. (Tax Foundation, “State Business Tax Climate Index Rankings,” www.taxfoundation.org, 1/12/08)
Under Romney, Massachusetts’ State Spending Increased More Than $5 Billion In Three Years
State Spending Increased By More Than $5 Billion (24%) In Three Years Following Romney’s First Budget, An Annual Increase Of 8%. Total FY2007 spending is projected by the state to reach roughly $26.85 billion, an increase of 24.2% from the roughly $21.6 billion spent in FY04, Romney’s first full fiscal year in office. (State Of Massachusetts Website, “Historical Spending,” http://budget.mass.gov, 4/4/07)
Under Romney, Hundreds Of Thousands Of People Left Massachusetts
Under Romney, Over 200,000 People Left Massachusetts — 3.5 Percent Of State’s Population – Ranking Second-Highest In Country In Out-Migration. “Between July 2002 and July 2006, the US Census Bureau estimated that 222,000 more residents left Massachusetts for other states than came here to live. This high level of net domestic out-migration was equivalent to 3.5 percent of the state’s population, the third highest rate of population loss in the country. Excluding the population displacement effects of Hurricane Katrina on Louisiana, Massachusetts would have ranked second highest on this measure.” (Andrew Sum and Joseph McLaughlin, Op-Ed, “Romney’s Economic Record,” The Boston Globe, 7/29/07)
· Under Romney, Massachusetts Was “A National Leader In Exporting Our Population.” (Andrew Sum and Joseph McLaughlin, Op-Ed, “Romney’s Economic Record,” The Boston Globe, 7/29/07)
Under Romney, Major Employers Left Massachusetts
“While Mr. CEO Was Governor, Major Employers Such As Gillette, Hancock, Fleet, Reebok Were Bought By Out-Of-Town Goliaths.” “[Romney] bragged as CEO he’d bring corporations and jobs to Massachusetts and belittled Shannon O’Brien for not knowing what he knew. While Mr. CEO was governor, major employers such as Gillette, Hancock, Fleet, Reebok were bought by out-of-town goliaths.” (Dan Payne, Op-Ed, “Memo To Candidates For Governor, Re: Debate,” The Boston Globe, 5/18/06)
Boston Herald: “No Longer Can Boston Be Called A True Corporate-Headquarters Town. … The Reason: There Are Simply Too Few Of Those Jobs Around. And Too Few Large Companies.” “That’s it. Yesterday’s announcement that Adidas is buying Reebok – after a slew of other takeovers of major Hub-area public corporations – marks a ‘paradigm shift’ in Boston’s historic economic profile and the very nature of its work force, economists and business leaders agree. No longer can Boston be called a true corporate-headquarters town. No longer is it as attractive a place for many university graduates to stay if they aspire to middle-management and top-echelon executive jobs – from human resources to accounting positions – within major public corporations. The reason: There are simply too few of those jobs around. And too few large companies.” (Jay Fitzgerald, “Paradigm Shift For Boston’s Economy,” Boston Herald, 8/4/05)
For More On Mitt Romney’s Economic Failure In MA , His Lies, His Corruption, His Inability to be Electable against the Democrats Please Visit Our Official Site For These Important Articles.
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