May 16, 2013

Alan Caron: Tax overhaul architects deserve standing ovation

The Gang of 11's plan will grow Maine's economy and help our state finally move forward.

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Here are the big solutions that the compromise tax bill offers:

Reduce income taxes by half.

Exempt $50,000 of property value from taxation.

Tax incomes less, for businesses and families, and consumption more.

Make tourists pay more.

Is the bill perfect? Of course not. But if perfection is the standard for change, we're all in big trouble.

I don't much like the tax on food and fuel oil, which are necessities that take a larger bite out of lower-income budgets, but there are lots of safeguards built into this bill to protect the poor.

So get ready for the doom and gloom campaigns by the left, the right and the status quo groups. It turns out that people who are against things are really well organized.

As for the rest of us, let's get behind some big and bold ideas for tax reform that can finally move the state forward. Then let's do the same on growing a vibrant new economy for Maine.

Alan Caron is a partner at the Caron & Egan Consulting Group and serves as the president of Envision Maine, a nonpartisan organization that promotes Maine's next economy. He can be reached at:

alancaroninmaine@gmail.com

 

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