RealJournalism#Massachusetts voters enacted a millionaire's tax in 2023. It seems to be working. https://www.dailykos.com/stories/2025/5/29/2324804/-Massachusetts-voters-enacted-a-millionaire-s-tax-in-2023-It-seems-to-be-working?pm_campaign=trending&pm_source=sidebar&pm_medium=web
DoomsdaysCW@RealJournalism We're working on something similar here in #Maine!
Opinion: #TaxTheRich! Seriously.
Ethan Strimling May 28, 2025
"Pass #LD1089, sponsored by Rep. Golek (D-Harpswell). The bill will place a 2% tax on millionaires who live in Maine. It was recently endorsed by the Taxation committee with a 7-5 vote, with all Republicans voting against and all Democrats voting in favor.
"The bill will transfer $200 million from our wealthiest residents (the top 1% making over $1 million dollars a year) to the working class. That is peanuts compared to how much this group will net from Trump’s destructive budget, but it’s a start.
"Let’s talk about the destructive effects of Trump’s budget bomb. To put it as simply as possible, Trump’s bill cuts $1.1 trillion in funding for Medicaid, Obamacare subsidies, and food stamps (SNAP), with the exact same amount going to the wealthiest 1% (those making over a million dollars) in the form of tax cuts. That means about 50,000 people in Maine will lose health care coverage, while our wealthiest residents will see a $63,000 increase in their incomes.
"If it passes as it is now, this bill will be a direct transfer of wealth from the poorest in Maine to the wealthiest such that we have likely ever seen in federal legislation. Health care and food for working-class Americans slashed, while putting all that money directly into the pockets of our wealthiest Americans and corporations."
