Maine
Letter: Why a millionaire tax doesn't make sense for Maine
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Millionaires and the top 10 percent of Americans pay more than 70 percent of federal income taxes and the percentages are likely similar in Maine, which leads some to claim that millionaires aren’t paying their fair share.
I think this high tax burden, along with Maine’s other taxes, may lead many to move to Florida or other states that have no income tax and no estate tax, hurting Maine’s economy. Further, when they shelter their income, that money is unavailable to invest in opportunities to stimulate our economy, decreasing the tax money available to our government.
We forget that our poor, while needing our help, generally live better than kings in the 18th and 19th century. Be careful what you wish for.
John S. Kaiser
Ellsworth