Beacon Hill Institute: Green Jobs Won’t Benefit The Economy

A new study from The Beacon Hill Institute (BHI) at Suffolk University finds that recent studies claiming economic benefits to government imposed “green jobs” were flawed, and that such a program will actually hurt the economy, not help it.

Recent studies forecasting the potential economic benefits of government green job programs are critically flawed and erroneously promote these jobs as a benefit, according to a report released today by The Beacon Hill Institute (BHI) at Suffolk University.

The economic analysis reviewed the primary claims of three of the most influential green jobs studies and found serious economic flaws in each.

“Contrary to the claims made in these studies, we found that the green job initiatives reviewed in each actually causes greater harm than good to the American economy and will cause growth to slow,” reported Paul Bachman, Director of Research at the Beacon Hill Institute, one of the report’s authors.

Similar “green jobs” programs in other countries also support claims that these programs result in more harm than good.

You can read the full text of the study here (PDF).



Taxes, Taxes, Taxes…

When Beacon Hill pols talk about increasing taxes, it’s not long before it becomes reality. Brace yourselves, amidst talks of hiking up gas taxes, tolls, booze taxes and personal income taxes, the sales tax will soon jump to 6%.

Top state lawmakers are seriously considering a controversial and politically risky plan to boost the sales tax by one penny to 6 percent, socking it to Bay State residents already facing possible gas and booze hikes.

Both House Speaker Robert DeLeo (D-Winthrop) and Senate Ways and Means chairman Steve Panagiotakos (D-Lowell) are eying a sales tax of 6 cents on the dollar that they say would bring an additional $750 million a year into state coffers.

“I don’t think anything can be considered as off the table,” DeLeo said yesterday, later adding he plans to pass reforms before any additional taxes are considered.

A conservative think tank blasted any talk of a sales tax hike in a tough economy, saying that even a one penny increase could mean a loss of 10,000 private sector jobs along with a $40 million drop in investment revenue.

“Any tax increase the state undertakes right now will have a negative effect on the economy because it will drive business to other states,” said Beacon Hill Institute Executive Director David Tuerck, who urged lawmakers to focus on cuts instead.

[...]

Yesterday’s sales tax chatter comes as lawmakers issued more dire warnings, saying the state faces a $4 billion-plus budget deficit next year. Rep. Ellen Story (D-Amherst) said House leaders are also discussing raising the personal income tax to 5.4 percent from 5.3 percent, which she said would bring in an additional $200 million.

“We’re going to have to look at new revenues,” Story said. “The rainy day fund will absolutely not last that long.”

As I’ve said, as well as many others before, how about cutting spending first? Can you at least give it some serious thought?

When Beacon Hill pols vote for the sales tax hike–and we can reasonably assume they will–how will we respond? If your representative or senator votes to raise these taxes, are you going to continue to reward him or her with your vote?



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