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Maine Pine Tree Zones, enacted to help low-income communities, grow the wealth divide

  The Pine Tree Zones will be considered for renewal at the end of 2021 but nobodies talking about it! Houcine Ncib Unsplash The apportionment of taxes on the various descriptions of property is an act which seems to require the most exact impartiality; yet there is, perhaps, no legislative act in which greater opportunity and temptation are given to a predominant party to trample on the rules of justice. Every shilling with which they overburden the inferior number, is a shilling saved to their own pockets. J ames Madison Federalist Paper #10 In 2004 the Pine Tree Zone tax exemptions were enacted in Maine as a program to benefit low-income high unemployed areas. In 2009 the Pine Tree Zone tax exemptions were amended to become state-wide tax exemptions for targeted areas, no longer restricted to low-income high unemployment areas. In 2017 the Pine Tree Zone was scheduled to sunset, but they were extended for another three years until December of 2021. At the end of this year, they will

An Incomplete Theory of Inflation Made to Order for Mass Consumption.

M oney is not what it used to be, so must our ways of thinking about it adapt. jaakko-kemppainen-unsplash The message treads across the media terrain, beating louder and louder as if to drown out the beat of the distant drummer. W arning! The only thing the stimulus will stimulate is inflation. The people will pay as the wealthy elite invests their windfalls in financial assets. Doom and gloom set to march across the land to the beat of the distribution of stimulus funds. In recent years as past predictions of fiscal disaster following stimulus spending failed to materialize and so the thinking about national debt and deficits has evolved, most noticeably with the development of  Modern Monetary Theory . In the   fall of 2020,  National Affairs  published a story,  Does the Debt Matter ? by Peter Wehner & Ian Tufts. Peter Wehner is vice president and senior fellow at the Ethics and Public Policy Center and served in the last three Republican administrations. Ian Tufts is a recent g

What is the Meaning of “Capitalism” and Other Out-Moded Terms?

 Time for a Language Upgrade? wonderlane-unsplash In the Beginning: The true history of eleventh-century civilization is a source of inspiration for contemporary apocalypse dramas. After five centuries of living in danger and uncertainty, walls were built around the town, so that the populous could focus on living rather than surviving. The church was the center of the community, attracting fairs, incorporating a marketplace and theatre, into its orbit. Technology had not developed to the stage that it required concentrated capital beyond the means of the ordinary citizen or town, creating an egalitarian society with a locally based economy in which wealth was created through production. Artisans and tradespeople typically made up four-fifths of the town populace. In the beginning, the economy grew through the activity of industrious producers before merchants gained dominance. Barter was the currency of exchange. And so I wondered, does the early medieval society qualify as a capital