To the Editor:
Former Senator Trahan’s passion for tax policy is impressive but I was surprised to see him make a whole column out of one line in Senator Johnson’s column from July 5. (“Tax cuts benefit all,” LCN, Page 4, 7/12/12)
Senator Johnson had mostly focused on the importance of R&D spending, and he mentioned briefly that LePage’s tax cuts are skewed towards giving a break to the wealthiest Mainers, which they are.
However, if Mr. Trahan wants to have a discussion on taxes, let’s have it.
He talks entirely about the budget that lowered taxes by $200 million, which was passed with bi-partisan support. Now, let’s talk about LD 849, which has a much bigger impact. LD 849 was passed this year and was not the bi-partisan creature Mr. Trahan makes it out to be.
Senator Johnson (along with most of the Democrats in the State House and all the Independents) voted against it. This bill did not reduce the tax that hits most of us the hardest, the property tax. LD 849 will ratchet down the top income tax bracket from 6.5 percent to 4 percent.
As Senator Johnson wrote, most of this will go to the top income earners in Maine. Of the $434 million in lost revenues, two-thirds of that will now go to the top 20 percent of Mainers. People who make over $750,000 a year will receive a $21,000 tax break while the working poor will receive a savings of one dollar.
I praise Senator Johnson for pointing out that tax cuts for the rich at the expense of the middle class only create greater fiscal deficits and social inequities.
Jim Torbert , Whitefield
