Some called it radical when we cut taxes 38 times over the last nine years. But we did it to provide stability. And cutting the income tax again may be the single most important step we can take to stabilize our economy for the future. And in the economy of the future, keeping taxes off the Internet may be the most important step we can take to protect this powerful new artery of commerce and job creation. Massachusetts is a leader in the electronic marketplace.
Telecommunications is the fastest growing segment of the Massachusetts economy.
One out of every five new jobs created in Massachusetts is telecom-related. We have the highest concentration of telecom companies per capita in the country. We are home to nearly 3,000 software and Internet companies employing 138,000 professionals. More than 200 new software companies were started in the last year alone. Taxing the Internet is a classic case of being penny wise and pound foolish.