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by Sadie
Rated: 13+ · Assignment · Business · #2104858
Can I have a few peer edits for my Economics Class HW please.
Yes, I due support with "Question 2 Tax" passed in early November. I can see why this new "Question 2 Tax" would anger those with an income over $200,000, they are going to have to pay 3% added tax. But, in my opinion, it is reasonable. I agree with John Kosinski's' words of, "It is indisputable (that) the majority of tax cuts have gone to the wealthiest Mainers. So at the same time the Legislature is saying there is no money for schools, we continue to give tax breaks to the wealthiest Mainers. That is not a sustainable path," (@pressherald) because it is awfully odd that the wealthy get the "good life" while the poor do not. It would be understandable for there to be even more frustration if these extra taxes were to be going towards a benefit not for the people, but these extra taxes are going to a benefit. "According to the legislation supporting Question 2, the money can only be used for 'direct support' of students, and cannot be used for 'the costs of administration,' expressly the salary and benefits paid for administrative or clerical staff," (@pressherald) in the end helping the children of those being taxed. Marginal benefits are also a key reason I agree with this taxation, "review estimated that revenues would be approximately $142 million annually, increasing by an additional $12 million or more each subsequent year," (@ballotpedia) this can lead to even more benefits by having more money saved for future uses for our economy, as well helping with unpaid debts as well. Ultimately, the "Question 2" taxation is in fact a good tax. It follows all four basic principles of taxation: the tax is efficient (it raises "enough" to pay for the program without burdening the economy), the tax is understandable, the tax is equitable (i.e. it is based on a person's ability to pay) and the people who pay the tax are the ones who benefit. As far as I have read on these benefits and costs of the "Question 2 tax," there is a pretty acceptable reason as to why it was passed and to why many people agree on how good the new taxation is.

Work Cited:

@pressherald. "Maine Will Have 2nd Highest Top Tax Rate in U.S. If Question 2 Passes" - The Portland Press Herald / Maine Sunday Telegram. Noel K. Gallagher, 03 Oct. 2016. Web. 05 Dec. 2016.

@ballotpedia. "Maine Tax on Incomes Exceeding $200,000 for Public Education, Question 2 (2016)" - Ballotpedia / The Encyclopedia of American Politics. 2016

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