In November, a referendum was passed in Maine that places a 3 percent surcharge on personal incomes over $200,000. Mainers thought they were doing the right thing for our state by funding education. However, I do not feel they were aware of the devastating impact the 3 percent tax would have on Maine’s future.
The reality is that the surcharge will create our nation’s highest tax rate at this income bracket.
I am a Realtor in the York County lakes region. My wife and I have, together, owned Exit Key Real Estate for nearly 50 years, and it concerns me that people will not want to move to Maine and that this tax will make Maine less competitive.
Investors and entrepreneurs will go out of state to avoid the tax, and that will adversely impact our economy as a whole. It’s also likely that new investors and entrepreneurs won’t come to Maine at all when they see how high the tax rate is.
Furthermore, taxing small-business owners will not fix any problems, and driving high-income earners out of the state won’t, either; both will only create new problems.
The Legislature must work together to find an alternative source to increase funding to education. I and many others want to see this surcharge repealed.
Elias Thomas
Shapleigh
Send questions/comments to the editors.
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have a commenting profile? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.