The 3% increase in income tax for those making over $200,000 (including businesses) creates the highest income tax rate for those making up to $1,000,000 in the country. After you get over $1 million, California rates go higher than Maine. Maine will then be #2.
What signal does it send to anyone thinking of bringing a business to Maine to know that mob rule by referendum can extract significant damage and change the financial landscape so easily?
Currently on the SJW (Maine People’s Alliance) signature gathering agenda is another referendum to impose “free” childcare, naturally by increasing the income tax of the so-called wealthy to 13% and giving it to the downtrodden. This is not to say that childcare costs aren’t exorbitant—they are. But voting to give yourself a raise at someone else’s expense is fairly easy in Maine and wrong.
No one will come here, the current “wealthy” will flee, at least for 6 months and a day, and good paying jobs will continue to stay away. Eliminating businesses and the taxes they provide, which support municipal services like schools, will not improve our schools. Further, our children will also move away to find actual jobs.
I expect free tuition and free healthcare to be next up as referendum questions as long as someone else is paying. For example:
Do you support training our youth for today’s important jobs and eliminating college debt? Another 3% on the wealthy.
Do you support ensuing quality access to medical care for all Mainers? Another 10% on the wealthy.
Call your legislators and ask them to eliminate the 3% tax increase and have them fix the referendum process. It’s too easy to pay signature gatherers in Portland to say, “If you support the children, sign here.”