Swamped by angry calls and e-mails, House and Senate leaders abandoned plans yesterday to retroactively charge 48,000 taxpayers for capital gains incurred nearly four years ago and also ordered thousands of refunds to investors.Aren't "retroactive things" supposed to be unconstitutional?
The 48,000 taxpayers sold assets in the first four months of 2002, but they began receiving bills this fall to pay taxes for those transactions at a higher rate than lawmakers enacted that year. The taxpayers can now ignore the bills, lawmakers said.
Friday, December 02, 2005
Mass. Tax Revolt
The Boston Globe reports: