Maine Center for Economic Policy
@mecep.bsky.social
Nonpartisan research & policy organization dedicated to improving the economic wellbeing of Mainers with low and moderate income since 1994.
▪️Simple to implement: Maine can piggyback on federal tax filings, minimizing administrative costs for both taxpayers and Maine Revenue Services. Minnesota enacted a 1% Wealth Proceeds Tax in 2023 using a straightforward law just 223 words long.
October 30, 2025 at 7:54 PM
▪️Simple to implement: Maine can piggyback on federal tax filings, minimizing administrative costs for both taxpayers and Maine Revenue Services. Minnesota enacted a 1% Wealth Proceeds Tax in 2023 using a straightforward law just 223 words long.
▪️Fairer treatment of wealth and work: Most of the income generated by wealth currently faces effective federal tax rates roughly 40% lower than wages and salaries. A state Wealth Proceeds Tax would help correct this imbalance.
October 30, 2025 at 7:54 PM
▪️Fairer treatment of wealth and work: Most of the income generated by wealth currently faces effective federal tax rates roughly 40% lower than wages and salaries. A state Wealth Proceeds Tax would help correct this imbalance.
Here's why this is smart policy:
▪️Taxes the wealthy, not the middle class: About 55% of the new revenue would come from households with incomes over $1 million; only 3.1% of taxpayers in Maine would owe any tax.
▪️Taxes the wealthy, not the middle class: About 55% of the new revenue would come from households with incomes over $1 million; only 3.1% of taxpayers in Maine would owe any tax.
October 30, 2025 at 7:54 PM
Here's why this is smart policy:
▪️Taxes the wealthy, not the middle class: About 55% of the new revenue would come from households with incomes over $1 million; only 3.1% of taxpayers in Maine would owe any tax.
▪️Taxes the wealthy, not the middle class: About 55% of the new revenue would come from households with incomes over $1 million; only 3.1% of taxpayers in Maine would owe any tax.