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- Princess Consue...
Current Conditions As Well
As Northern Massachusetts goes...
http://www.reason.com/blog/show/134314.html
The 6.5% solution!
The Maine Gov says "We hope these lower tax rates will encourage and reward work, and that the lower capital gains tax brings more investment into the state."
You feelin' ok, TGL, posting this on RSN? Dosen't seem to be a strategy that has earned many fans on RSN...
Well... you're the one quoting a Democratic governor.
I'm all for simplifying the tax code to reduce exemptions.
Me too.
Not sure we should be celebrating, "a state that cuts tax rates on the rich."
Nothing hurts an economy like taking money out and giving it to the uber-rich.
RE: "Uber-Rich":
phew-
that sounds more like the RSN that I know.
D'oh, stupid education....
The rideside blogosphere is officially back on track.
I haven't read the tax code, my assumption is that while the top tax rate will drop from 8.5% to 6.85%, there will be less exemptions and deductibles. That's usually how these flat taxes go. The tax burden won't actually decrease for those making $250,000... but I could be wrong.
The money isn't actually coming out of the economy, it's just not going into the State coffers. It'll be interesting to see how Maine's state social services fair. Although, these sorts of things are difficult to quantify given the number of variables involved.
Northern Massachusetts = southern New Hampshire. Sayin'.