This item just got published on The Maine Wire.
It uses the Town of Brunswick to illustrate a tangible means of comprehending the costs of major entitlement programs. You’ll have to read the entire item to get the full effect, but we’ll whet your appetite with these two contrasting passages:
For illustration, let’s look at two typical Brunswick residential taxpayers: Chris, whose home is appraised at $140,000, and Pat, whose home is appraised at $280,000, both after any applicable exemptions. This year, Chris is paying $3,716 in annual property taxes, and Pat is paying $7,432. This equates to roughly $71.50 and $143 per week respectively. Or $310 and $620 monthly to their impound accounts. (- See more at: http://www.themainewire.com/2014/01/tooth-fairy-government-bringing-medicaid-expansion-town/#sthash.MbOio1i8.dpuf)
This is before factoring in the full cost of Medicaid if it were paid for through our property taxes:
We’d now need to collect $101.2 million annually in property taxes, nearly triple what we currently take in. The mil rate would increase to 75.45. Chris would be paying $10,562 in yearly property taxes, and Pat would be chipping in to the tune of $21,126. We hope they’re disciplined enough to set aside the $203 and $406 weekly this would require. (Or the $880 and $1760 monthly their impound accounts would demand, respectively.)
We hope you’ll give the column a full reading. We can’t wait to hear your response.
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