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For more information on LD 1495, go to www.stillfedupwithtaxes.net. Maine Taxpayers United - true to Our Mission to reduce the tax burden - supports this Initiative and will be working throughout the spring campaign to ensure its passage by the voters. The details of LD 1495 , from many different sources, are also available on our news web site: www.mainealliance.com. |
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The Peoples’ Veto of LD 1495 The proponents of this bill are telling all through the media that they - the Democrats - have reduced the state income tax. This is again misleading as LD 1495 does not reduce the income tax. It reduces the tax rate from 8.5% to 6.5%, but at the same time, abolishes all exemptions and deductions, including the mortgage deduction. The end result is that taxpayers will pay a lower rate on a much higher taxable income. Therefore, there is no significant relief. The proponents are also claiming that LD 1495 “exports” taxes to tourists by increasing the meal tax from 7% to 8.5%. But this will hurt Maine’s one viable remaining industry, tourism, and at the same time increase the burden on Maine people who eat out and vacation in Maine. The Maine Republican Party, along with the Political Action Committee, Still Fed Up With Taxes, conducted a successful petition drive which culminated in handing in to the Secretary of State’s Office nearly 70,000 signatures last September. Despite many obstacles erected by the Democrats, this Initiative - The Peoples’ Veto of LD 1495 - will be on the ballot in June of this year, 2010. For more information on LD 1495, go to www.stillfedupwithtaxes.net. Maine Taxpayers United - true to Our Mission to reduce the tax burden - supports this Initiative and will be working throughout the spring campaign to ensure its passage by the voters. The details of LD 1495 , from many different sources, are also available on our news web site: www.mainealliance.com.
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