No, The "Millionaire Tax" Will Not Be Good For Maine

A more balanced tax system in Maine

Rep. Cheryl Golek, D-Harpswell, celebrates the state's new 2% surcharge on annual incomes over $1 million for taking a step toward a more equitable Maine.

No, The "Millionaire Tax" Will Not Be Good For Maine

This opinion editorial by a local business owner was published in the Portland Press Herald this week. The tax in question — formerly part of LD 1089 which was ultimately scrapped, technically, but still stitched into the supplemental budget in a different form — adds a 2% surcharge tax on annual income over $1 million for single filers and $1.5 million for married couples and other filers. It was proposed in an attempt to achieve “tax fairness”…