Re: How rich are you?
off topic, but...
unless the new law gets repealed Maine will have a pretty flat 6.5% income tax rate (people making over 250,000 will pay an extra .35%). The loss of income tax revenue will be offset by broadening the sales tax to some things currently untaxed, increasing meals and lodging taxes, and eliminating some exemptions. I'm all for this since meals and lodging taxes help shift more of the tax burden to tourists and part-time residents, and I don't spend a lot on the newly taxed items. Unfortunately the tea baggers and republicans are foaming at the mouth to repeal this before it goes into affect. The wall street journal called it the Maine Miracle: http://online.wsj.com/article/SB124571672694839297.html
Originally posted by amherstblackbear
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unless the new law gets repealed Maine will have a pretty flat 6.5% income tax rate (people making over 250,000 will pay an extra .35%). The loss of income tax revenue will be offset by broadening the sales tax to some things currently untaxed, increasing meals and lodging taxes, and eliminating some exemptions. I'm all for this since meals and lodging taxes help shift more of the tax burden to tourists and part-time residents, and I don't spend a lot on the newly taxed items. Unfortunately the tea baggers and republicans are foaming at the mouth to repeal this before it goes into affect. The wall street journal called it the Maine Miracle: http://online.wsj.com/article/SB124571672694839297.html
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