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#taxtherich
#Maine #billionaire makes it onto list of richest Americans
by Bill Trotter, Bangor Daily News
Fri, November 1st 2024
"In what may be a first, a Mainer has been named by Forbes Magazine as one of the 400 wealthiest living Americans.
"Susan Alfond, a Scarborough resident, is one of three surviving siblings whose father was Harold Alfond, the founder of Dexter Shoe Co. Susan Alfond and her brothers, Bill and Ted, each are estimated to have personal wealth of $3.4 billion, ranking them alongside a few other billionaires in 388th place on the list of 400.
[...]
"There are several other billionaires on this year’s Forbes 400 list with ties to #Maine, most of them because they summer at seasonal homes they own along the coast.
"The wealthiest of them is Edward C. Johnson IV, whose wealth is estimated to be worth $12.6 billion, ranking him as the 70th richest American. Johnson, whose grandfather, Edward C. Johnson II founded Fidelity Investments, has a summer home on Mount Desert Island, and his father, Edward C. Johnson III, long owned property and summered there.
"Edward C. Johnson III, who died in 2022, ran the investment firm until handing the reins to his daughter Abigail Johnson in 2014. Abigail Johnson ranks 30th on the Forbes list with an estimated wealth of $31.3 billion, but it is not clear if she or a third Johnson sibling, Elizabeth (who Forbes says is worth $10.6 billion), also owns property or spends summers in Maine.
"Other billionaires who rank on the Forbes list and own summer homes on MDI include brothers Stephen and Mitchell Rales, Charles Butt, and Robert Bass, each of whom has an estimated wealth roughly between $5 billion and $9 billion.
"John C. Malone, the founder of Liberty Media and one of the largest landowners in the country, owns Mosquito Island off Port Clyde and a summer home in Boothbay. Malone, who with an estimated wealth of $10.7 billion is ranked 89th on the Forbes list, also owns nearly 1 million acres in Maine, including Falcon Lodge on Spencer Lake in Somerset County and surrounding woodlands."
Source:
https://wgme.com/news/local/maine-billionaire-makes-it-onto-list-of-richest-americans-susan-alfond-forbes-magazine-dexter-shoe-co-harold-alfond
#TaxTheRich #RichMainers #billionaires
#TaxTheRich, it’s a decent start
Posted by Bluebird | Mar 12, 2025
"As incredible as it may seem, just a handful of #billionaire #Mainers could fund the state for years out of their own pockets and still live out their lives as multimillionaires. So when socialists say tax the rich, we mean more than raising what billionaires pay by 1% or 2%, we mean raising their taxes by 25% or 50% or more to start with. We mean we should take back the wealth they have collected by exploiting all the people who have worked for them, all the land they have stolen, and all the resources they have grabbed all around the world. In the meantime, socialists often support smaller measures whenever we feel like they are a way to raise funds to help our class, raise consciousness, and build organization.
However, increasing taxes on the wealthy isn’t a permanent solution to the persisting problems of #capitalist society. It’s a good start, but it’s not enough.
[...]
"By all means tax [the wealthy] at a rate of 95%, 99%, 100%, 200%! Take back everything they have stolen from us. Truly solving the causes of social inequality cannot happen until the property of the capitalist class has been expropriated, but for the reasons explained above, simply taxing them at any rate will prove ineffective given enough time.
"Moreover, tax increases tend to antagonize capitalists. Sooner or later, as we are seeing very clearly now in Washington, they will transform their economic might into raw political power to claw back even the small social costs that generations of #SocialMovements and trade unions have imposed on them. During such times, as grim as our prospects may seem, it becomes clearer than ever that so long as the capitalists have all the power, even the most progressive public policy can only be temporary.
"How much longer will capitalist industry be allowed to #pollute the planet? How many more times does the economy have to crash? How many more wars will we be forced to fight on the behalf of these #RobberBarons? How many more lives will be ruined by #debts, mass #layoffs, denied insurance claims, and more? Why should we tolerate a system that exploits those whose labor keeps society functioning?"
Read more:
https://pineandroses.org/opinion/www-pineandroses-org/
#MaineDSA #Socialism #CapitalismMustDie
The only mechanism in economics that provides a trickle-down effect is taxation. #TaxTheRich
#Trump #FakePopulist
#Taxtherich
This is Ben Norton deconstructing Trump, his intentions, his policies and how they are made to hurt the very people who voted for him.
"His administration includes 13 billionaires...and he is cutting taxes on the rich and corporations while imposing a consumption tax on the poor through tariffs"
If Trump wanted to Make America Great Again, according to historical tax rates, he'd have to tax the rich. End of.
I just signed the petition “TAX WEALTH – DON'T CUT DISABILITY SUPPORT” and wanted to see if you could help by adding your name.
Our goal is to reach 5,000 signatures and we need more support. You can read more and sign the petition here:
Thanks!
Jules
#petition #costoflivingcrisis #CostOfLiving #taxwealth #DisabilityRights #rachelreeves #tax_the_rich #taxtherich #tax
No one likes to pay tax. But we see where the money is piling up - and that is where the tax increases should be.
The rich know they and their companies have been freeloading, with the lowest tax burden in decades. They'll scream and make political trouble, but they'll pay. It just takes will.
I've not been very impressed w #Labour , but tax rises on pensions >£1m and corp payroll are good moves (IMO). More #TaxTheRich increases, please.
Jeder beschwert sich über die kaputten Brücken, Schulen, Straßen etc. Aber in den Zeiten, in denen die alle (mit genügend finanziellen Mitteln) gebaut wurden, lag der Spitzensteuersatz deutlich höher. Tipp: evtl gibt es da einen Zusammenhang. #taxtherich
I Can't Make It Through RFK Jr.'s Explanation For Cutting 10,000 HHS Jobs Without Screaming
https://www.wonkette.com/p/i-cant-make-it-through-rfk-jrs-explanation
#Mainers call on legislature to fund #education and more by raising taxes on #wealthy
by Channa Steinmetz, March 27, 2025
"As the #Trump Administration continues its efforts to fund huge #billionaire tax cuts by raising the cost of living and making it harder for Americans to access health care, housing, food assistance and education, Mainers, including some with very high incomes, are calling for the state’s wealthiest residents to pay what they truly owe our state.
"#LD1089, 'An Act to Permanently Fund 55 Percent of the State’s Share of Education by Establishing a Tax on Incomes of More than $1,000,000,' would add a 4% income tax surcharge on the fewer than 1% of Mainers whose incomes are above $1 million to fund Maine’s public schools. Currently, #millionaires pay the same percentage of their income in taxes as someone who makes $61,000 – leaving more than $100 million a year (the amount this tax would raise) on the table.
"Bill sponsor Rep. Cheryl Golek (D-Harpswell) said that while the bill would benefit many Mainers, 'adding a modest surcharge has no impact on millionaires.'
"#LD1047, 'An Act to Impose an Additional Tax on Certain Unearned Income', adds a 4% surcharge on capital gains above $250,000 for an individual or $500,000 for a couple filing jointly.
"Since #InvestmentIncome is often taxed at a lower rate than wages, and people with more wealth tend to get more of their income from investments (such as stocks or real estate), this bill helps to address the disparity in tax rates between people with more and less wealth. It would affect only the wealthiest investors, not middle-class families selling homes or withdrawing retirement savings, while raising over $100 million to support #schools, #infrastructure, and community services, said bill sponsor Rep. Grayson Lookner (D-Portland).
"Lucas St. Clair, an immensely wealthy Falmouth resident best known for his work on the Katahdin Woods and Waters National Monument, testified in favor of both bills. He said that people with money, like his family, should pay more in taxes: 'We care about the future of this state. The inequitable tax structure of today…undermines the overall health of our communities. The wealthy should pay our fair share in taxes. Period.' He also spoke about the results of fairer tax policies: 'Fair tax policies allow more money to stay in communities, ensuring greater investment in public schools, infrastructure, and services like child care and health care.'
"Gorham child care provider Charlotte Jacobs of Scarborough testified in person in favor of both tax bills, saying that Maine’s continued failure to fully fund universal Pre-K and other essential services is a direct consequence of an unbalanced tax system."
Read more:
https://mainebeacon.com/mainers-call-on-legislature-to-fund-education-and-more-by-raising-taxes-on-wealthy/
#MainePol #TaxTheRich #USPol #Education #EducationCuts
Yes!!!!!
Stop cutting services to the poor.
Fix the budget by #TaxTheRich .
This means keeping the tax on tech (screw Trump, bc he's going to screw the UK anyway). Create a #WealthTax , #RaiseCapitalGainsRates , tax pensions of the wealthy and raise corporate tax rates.
And if #Labour really wants to get the economy growing, lower the #EnergyCap , lower water rates, protect renters and maybe even lower the VAT rate.
The headlines should read, "#Maine gives #Trump the Finger -- Decides to #TaxTheRich to pay for #Education cuts" (assuming the bill passes).
#MaineResists #USPol #MainePol #TrumpIsABully
Other states threatened by #Trump and #DOGE should consider the same!
Tax on Maine #millionaires heard in committee
By Keenan Mills
Published: Mar. 26, 2025 at 4:24 PM EDT|Updated: 22 hours ago
AUGUSTA, Maine (WABI) - "Public hearings on two bills that would raise taxes for high-income households were held in Augusta today. One bill would add a four percent surcharge on Mainers who have a yearly income of one million dollars or more.
"This money would be used to guarantee the 55 percent of the state’s share of education funding which currently is built into the biennial budget, but there are questions surrounding potential cuts.
"According to supporters, all Maine people currently making more than 61-thousand dollars share the same taxes.
"No Republicans were listed as sponsors of the bill. They’re concerned about increasing taxes on those who make more money."
https://www.wabi.tv/2025/03/26/tax-maine-millionaires-heard-committee/
#TaxTheRich #MainePol #Education #USPol
Billionaires Need Tax Cut, So Food Banks Gotta Get By Without The 'Food' Part
https://www.wonkette.com/p/billionaires-need-tax-cut-so-food
#anticapitalism #eattherich #feedthepoor #taxtherich #inflation #profit #profits #money #euro #pound #yen #rupee #dollar #corporate #capitalism #multinational #greed #billionair #socialism
"Wir werden ärmer." heißt natürlich "Ihr werdet ärmer."
#TaxTheRich
Bondi demands Crockett apologize for aggravated mean to Elon
