This is in response to the ad watch column on the May 30 Sun Journal editorial page.
The Sun Journal apparently didn’t do its homework when crafting biased commentary about our television ads. The Maine Association of Realtors was not contacted for comment and if, as a newspaper, it was interested to know the purpose for any statement in our ads, it should occur to ask us. There is significant misinformation and missing information in the analysis of the ads.
Maine Revenue Services confirmed to the Yes on One Coalition that “In 2013, the net tax cut is estimated to be $32.3 million. The top 1 percent of Maine households get a $23.2 million net tax cut. The remaining net reduction of $9 million is spread across the rest of the tax families.”
While we recognize the proponents keep claiming this distribution is “proportional,” it is accurate to include the main benefit of the total net tax cut is to the wealthy (top 1 percent). Had the Sun Journal provided the total amount of the total net tax cuts to the top 1 percent and then the other 99 percent, it might give a true picture to its readers.
Next, Save the Mortgage Interest Deduction is a ballot question committee, not a political action committee — a basic detail apparently not researched by the Sun Journal.
The analysis also fails to include our concern about limiting (for some) and removing (for others) the value of the itemized mortgage interest deduction, which is a key reason we are involved. While our full talking points are at mainerealtors.com, here’s one purpose:
MAR opposes the Legislature’s tax reform package because it modifies the common definition of “residency” to deny the household credit for one year to people who have moved or returned to Maine. That directly affects the mortgage interest deduction because those who relocate to Maine for a job, or who return to Maine after moving away, cannot have any state tax deductions or the new limited credits upon relocation.
Often relocating workers will purchase a home during their first year in Maine and the Legislature has ensured that they will not receive any itemized deductions or credits during the very time in which they will pay the largest amount of interest on many types of mortgages.
This “welcome back tax” is very bad for Maine jobs and real estate and will likely face a constitutional challenge should the repeal effort fail.
Separately, our opponents are running ads that are distortions of the truth — there is no proposal to raise income tax (or rates) by 30 percent for all Maine families from what they’re presently paying.
A “yes” vote to repeal keeps taxes the same and tells our legislators to think again.
Our message remains: Vote “yes” on Question 1.
Linda Gifford for the Maine Association of Realtors, Augusta.
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