ME Should Redouble Innovation, New Businesses
Charles Lawton: Reliance on government benefits slows Maine's income growth
By CHARLES LAWTON
Personal income comes from...payment for work, earnings from property.., and redistributive transfers....
Our growth in earnings was 67% of...national average. Our growth in property income was 97% of...national average. But our growth in transfer receipts was less than 30% of...national average.
[A] major reason for our abysmal performance in income growth relative to other states was...we received...much less in transfers than...in previous years.
[C]onclusion: redouble...efforts in innovation.., new business....