Wealthy Mainers Urge Higher Taxes to Help Working Residents

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A group of high-net-worth individuals in Maine are calling on state legislators to significantly raise taxes on the wealthy in order to provide more funding for public services and ease the tax burden on middle- and low-income residents. The group, which includes heirs of fortunes and self-made millionaires, say the increased taxes would be a 'rounding error' for them but could make a major difference in the lives of struggling Mainers.

Why it matters

Maine has long grappled with economic inequality, with a stark divide between the wealthy coastal enclaves and struggling rural communities. This push by the state's richest residents to voluntarily pay higher taxes could provide a path forward to address these disparities and ensure all Mainers can afford to live and thrive in the state.

The details

The group of high-net-worth Mainers joined a Zoom call organized by a local research organization to make the case for significantly raising taxes on the wealthy. They argued that for many of them, a large increase in state taxes would amount to little more than a 'rounding error' given their immense wealth, while the additional revenue could go a long way in supporting public schools, social services, and other critical needs across Maine. Some members of the group said they have been advocating for these tax hikes for years, frustrated that the state government has been too 'fearful' to take on the wealthy.

• The Zoom call with the high-net-worth Mainers took place the Friday before the author's car broke down in Rockland.
• In recent weeks, scores of people, including some on the Zoom call, have testified in support of legislative proposals to raise taxes on the wealthy and ultra-wealthy in Maine.

What they’re saying

What’s next

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