On tape, Gov. LePage justifies cutting taxes for millionaires with wildly innacurate claim

http://thetippingpoint.bangordailynews.com/2013/10/18/state-politics/on-tape-gov-lepage-justifies-cutting-taxes-for-millionaires-with-wildly-innacurate-claim/

A hallmark of Governor Paul LePage’s administration has been his advocacy for income and estate tax breaks, policies that favor the wealthy, while championing cuts to health care, public assistance, education and local services, which are most damaging to the poor and middle class.

Now, thanks to a recording of LePage speaking to the Greater Portland chapter of the Informed Women’s Network in Falmouth on Monday, we know that at the root of this philosophy is a complete misunderstanding of how taxes and wealth work in Maine.

“25 years ago Maine had about 2,000 millionaires. Maine has 400 now. New Hampshire at the time had about 500, right now they have 4,000. That’s the difference. That’s when you talk about prosperity and you talk about building an economy those are the things that you need to concern yourself with. So, I am looking at taxation as a big issue,” said LePage.

The idea that we should focus our tax efforts on millionaires is concerning, and you don’t have to be an economist to know the numbers he cites are ludicrously wrong.

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