AUGUSTA, Maine (NEWS CENTER) - Governor LePage says if elected to a second term he'll do away with corporate and personal income taxes in Maine as a way to attract more wealth to the state.
He made the comment at the Blaine House today while hosting the author of a book called "How Money Walks." The author tracked the movement of wealth from state to state based on IRS filings. He says he found that states with no personal income tax are gaining wealth at the expense of highly taxed states.
Over the last 15-years Maine took in 1-point-6 billion dollars from other states, but that's only half the amount neighboring New Hampshire took in, a state with no income taxes.
The message from the Governor is Maine could be doing much better with no income taxes, but he says with Democrats controlling the House and Senate it will be an uphill battle.
"With the current composition across the street, a lot of work needs to be done to do that. In other words my budget isn't addressing the loss of revenue. I'm just fighting not to have a tax increase this year", LePage said.
The Governor also said he's very concerned about the state's declining population and the impact that will have on the economy. He says people are dying at a much higher rate than babies being born.