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Maine Economic Trends Study: Lessons from Past Recessions

Dive into Maine's economic patterns pre-trouble, impact on employee compensation, and the cyclical changes in income distribution. Explore the roller coaster of Maine's General Fund and GDP growth, retail sales dynamics, and tax vulnerabilities.

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Maine Economic Trends Study: Lessons from Past Recessions

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  1. Budget, Economy, and Economics Charles S. Colgan Muskie School of Public Service University of Southern Maine

  2. Comparing Recessions in Maine

  3. Before we got to the troubles, something was different

  4. But Don’t Blame Maine

  5. Employee Compensation has not had it’s cyclical increase in the share of national income

  6. Maine General Fund and GDP Growth

  7. GPD v. Maine General Fund Change

  8. The Maine Revenue Roller CoasterPct Ch GF-Pct Ch GDP_Me

  9. The Reverse Wealth Effect is Kicking In Sources: Census, Realtors Core retail sales growth 3 mo. MA (R) House-price growth 6 mo. lead (L)

  10. The Sales Tax Vulnerability

  11. Maine General Fund and U.S. Capital Gains

  12. Personal Income and the Income Tax

  13. The Property Tax Base

  14. Maine Housing still has some room to fall also

  15. The Long Crusade General Purpose Aid $911 Teachers Retirement $205 Tax Relief and Reimbursement $155 Revenue Sharing$133 Total Transfers to Town Governments $1404 Individual Income Tax=$1525

  16. Budgets 101 • Cycles happen • The seeds of the next crisis are being planted now • Spending and tax policies are both political and economic decisions

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