• If you are having problems logging in please use the Contact Us in the lower right hand corner of the forum page for assistance.

Maryland plan to tax millionaires backfires

hypocritexposer

Well-known member
Top earners disappearing as economy withers

By Laura Smitherman | [email protected]
May 14, 2009

One of Maryland's budget-balancing tactics - asking millionaires to pay more money to the state - appears to be backfiring as the number of the highest-earning taxpayers dwindles with the flagging economy.

But as the state comptroller's office sifts through this year's returns, it is finding that the number of Marylanders with more than $1 million in taxable income who filed by the end of April has fallen by one-third, to about 2,000. Taxes collected from those returns as of last month have declined by roughly $100 million.

Another more debatable explanation would be that millionaires have simply fled the Free State. While some say they have heard anecdotal evidence of the wealthy packing it up, officials say there's no proof yet of such a development.

http://www.baltimoresun.com/news/local/bal-md.millionaire14may14,0,6465292.story
 

MoGal

Well-known member
Well, we are following the exact same text, including the fact, "tax the rich and make them pay for everything" the exact same pattern that the Roman Empire followed before it was overrun by invading tribes.
 
Top