By Kevin “Coach” Collins
They say there are no atheists in a foxhole and maybe there are no American Marxists in a deep economic hole. The economic “atheists” in Maine seem to have proved this point.
Maine’s “other people’s money” is running out. This has forced “drastic” action.
Maine’s Marxists may be getting it.
Last week during a history making Legislative session Maine’s Democrats cut spending by 500 million dollars. On top of this the lopsidedly Marxist Maine Legislature handed Governor John Baldacci a new tax bill that actually cuts rates for almost 580,000 Mainers who will see their taxes lowered by around 55 million dollars based on a new top rate of 6.5 percent down from 8.5 percent on incomes up to $250,000. Those reporting incomes above this level will see a reduction in their rates from 8.5 percent down to 6.85 percent.
Like most tired northeastern liberal infested states Maine has been in a steady decline over a number of years since it fell for Democrat socialism to replace its traditional “Yankee-can-do” independence. The Democrats in Augusta acted as if the money facet would never shut off. Now Maine has had her “Road to Damascus” moment cut taxes and cut spending.
In a rare moment of socialist clarity, Baldacci commented “… when many other states are raising income taxes and making it more difficult for working men and women and families and small businesses to be able to keep more of their hard-earned tax dollars, [we are] sending a message out that not only is Maine open for business, but Maine supports families, supports communities and it wants to provide them with real relief….”
Other states are also bleeding out because of socialism. Will they remain in denial or will they act? They’ll probably just raise taxes and watch Maine grow.
Are there problems with this new tax formula in Maine? Of course there are. It includes a classic socialist assumption that people from outside of Maine will help make up any shortfalls. The bill presupposes that Maine will remain so attractive to tourists and part time vacationers that they will gladly pay increased hotel and other taxes largely aimed at them. That remains to be seen.
Another problem is home mortgage interest is no longer deductible which is a serious threat to the same people it is reportedly trying to help. Nevertheless when socialists start cutting spending and reducing taxes it is a very important first step. We know it will work to ease Maine’s problems and other states will “discover” spending and tax cuts when they watch Maine grow.
Comments on this or any other Collins Report essay can be sent to kcoachc “at” gmail.com