Nearly one in four Maine adults have started college, but never earned their degree. According to the Working Poor Families Project, Maine has one of the highest rates in New England of adults with incomplete credentials. By not obtaining a degree or certificate, these adults significantly reduce their earning potential over a lifetime.
At a Blaine House press conference yesterday Governor LePage announced that if elected to a second term, he will seek to eliminate the state income tax.
This is a bad idea with even worse consequences for Maine’s economy.
1. We can’t cut our way to prosperity. Eliminating Maine’s income tax means other taxes will have to go up to maintain funding for education, health care, roads, police and fire … Read the rest
Legislators are working to close a $938 million budget gap that is the result of the worst recession since the Great Depression and unpaid-for tax cuts that mostly benefit the wealthy. Governor LePage’s solutions only shift state costs to our towns and cities, eliminate property tax relief and public services for residents who need it most, and fail to invest in our kids, our workforce, and our future.
As the … Read the rest
Governor’s Modest Tax Hike on the Wealthy Won’t Erase His Massive Tax Hikes on Low- and Middle-Income Mainers
The latest state revenue forecast shows no end in sight for Maine’s budget crisis. The state’s general fund is expected to bring in $58 million less than previously forecast, bringing the structural budget gap for the two-year period beginning in July to a whopping $938 million (equal to 31% of FY 2013 General Fund revenue). In response, Governor LePage has offered changes to his original budget proposal released in January.… Read the rest
Governor LePage’s assertion that the income tax is a “very regressive tax” is stunningly incorrect.
A regressive tax is one that takes more taxes as a percentage of income from low-income individuals than from higher income individuals. A progressive tax does the opposite. Progressive taxes increase as a person’s income increases.
Property taxes are regressive. Sales taxes are regressive. Excise and gas taxes are regressive. Contrary to what the governor … Read the rest
Tax reform must do more for working families and to ensure funds to educate our children, build strong communities, and grow Maine’s economy
Recently a group of eleven legislators (five Republicans, five Democrats, and one Independent) has introduced sweeping legislation that according to the Bangor Daily News “slices the state’s individual income tax rate to a flat 4 percent — the highest rate now is 7.95 percent — and eliminates … Read the rest