Wealthy leaving Maryland in droves to avoid higher taxes

Bluegrass Pundit ^ | May 17, 2009 | Bluegrass Pundit

[Askwhy5times]

A year ago, Maryland created a higher tax bracket for millionaires intended to help balance the state's finances and make the tax code more progressive. How is it working for them? In the last year the number of Marylanders with more than $1 million in taxable income who filed by the end of April has fallen by 1/3 to about 2,000. Taxes collected from those returns as of last month have declined by roughly $100 million. Increasing taxes on the rich has failed because the rich are mobile and can choose where they live. I am sure the states with lower tax rates, where they moved, appreciate the increased revenue.

[Askwhy5times]

I am not sure why this was not obvious to Maryland's elected officials.

[GOPGuide]

The accursed Yankees are heading South!!!

[proxy_user]

It is not entirely certain they moved. Both business and investment income was down substantially in 2008 compared to 2007.

Of course, Maryland could tell by tracking individuals.

[Paladin2]

"Of course, Maryland could tell by tracking individuals."

That kind of analysis will lead to the truth - MD tax policy is counterproductive.

They can't have that, so they'll just poke about for a while and then blame it on Bush somehow.

[Man50D]

Wealthy leaving Maryland Connecticut in droves to avoid higher taxes.

I am not sure why this was not obvious to Maryland's elected officials

It has nothing to do with money for these socialists. It's about creating a group of people dependent on the government. People with money are an obstacle to that goal. The alternatives are take their money from them or drive them out so only the poor remain.

[silverleaf]

Is it clear they left, or just became poorer and dropped off the “millionaire” list?

[RedStateGuyTrappedinCT]

Increasing taxes on the rich has failed because the rich are mobile and can choose where they live.

So when Lord Zero gets through, the rich will have to move offshore. The rest of us... well... we're f#@%*d.

[dfwgator]

Stay out of Texas, we’re already getting Californicated as it is.

[yefragetuwrabrumuy]

I've got to agree. Less millionaires means fewer are able to be soaked for higher taxes in the first place.

The big danger, the really huge danger, that even the Democrats never had enough chutzpah to try, is a "wealth tax", which means taxing what you *have*, not what you *earn*. This is the way things used to be done in Europe, and it was ugly.

Efforts were made to tax people based on the appearance of their home, how many windows they had, and things like that.

Wealth taxes are little different than legalized brigandage, with the tax collectors looking for anything of value they can demand taxes from.

[PGalt]

They could come to the capitalists paradise, Michigan, and start a business...perhaps an auto company. /EXTREME SARCASM

[relictele]

And bringing their fuzzy-headed nobility of purpose with them!

[Tzimisce]

But every poll indicates that people don’t mind paying higher taxes if they get more services.

[17th Miss Regt]

The economy is static. The pie size remains the same. One person's gain is another person's loss.

Now repeat after me.

The economy is static. The pie size remains the same. One person's gain is another person's loss.

The economy is static. The pie size remains the same. One person's gain is another person's loss.

The economy is static. The pie size remains the same. One person's gain is another person's loss.....

[gedeon3]

We are being invaded here in Georgia, by Mexicans, and Americans from the NE USA; they are changing this state into a blue state very fast. The Mexicans bring a lot of crime, leftism, and illegality, while the Americans bring their liberal views, their sheep like behavior, and are against conservatism.

[12Gauge687]

Unfortunately, I have personally seen this in NC, VA, and TX and it’s downright sickening. I was almost in shock when I went to Good Company BBQ and actually heard a Texas twang. Back in ‘96 when I attended the National Association of Home Builders show in Houston, you could still here lots of Texas in people’s voices. Now, not so much.

Amusingly, an Indian doctor I met near the sprawling Houston Medical Center this past October had more of a twang than the girl from Indiana working at Starbucks. He told me his English teacher was native Texan.

As far as the culture and political philosophy, it has all become emasculated and Oprah-fied, in my opinion.

[Nat Turner]

Don’t blame me... Yes I am from NY but I came to escape the snow and the taxes, (my car tag is 1XNYer) and the liberalism. I am too old and too stubborn to have to move out again.. LOL

[Signalman]

The liberal legislature in CA has not been able to figure this out yet.

[Freee-dame]

I am not sure why this was not obvious to Maryland's elected officials.

because they BELIEVE....Our current governor ran on this one-word platform, after using it as his slogan as mayor of the failing city of Baltimore. In truth, it's Maryland's proximity to and huge transfer of money from, the feds in DC that allows it to be so uncaring about its productive citizens.

[Axenolith]

C’Mon, that’s obvious, they’re evil moron politicians scurrying to appease the taker class for their vote.

They’ll continue to be able to foist blame off on the evil producers while living in their gated communities and guarded downtown flats. It’ll will have to get downright anarchic before anything happens to change their situation...

[Malesherbes]

Even allowing for the recession in incomes, this is a telling statistic. Maryland is one case, but California is the prime example of stupid politicians driving away productive citizens. It saddens me that the state of my birth, once truly the Golden State, has been wrecked. I now live in a state with no income tax.