Posted on 07/10/2012 8:05:18 AM PDT by In Maryland
A new report says wealthy Maryland residents may be moving out due to recent tax hikes – a finding that is sure to escalate the battle over taxing the American rich.
The study, by the anti-tax group Change Maryland, says that a net 31,000 residents left the state between 2007 and 2010, the tenure of a "millionaire's tax" pushed through by Gov. Martin O'Malley. The tax, which expired in 2010, in imposed a rate of 6.25 percent on incomes of more than $1 million a year.
The Change Maryland study found that the tax cost Maryland $1.7 billion in lost tax revenues. A county-by-county analysis by Change Maryland also found that the state’s wealthiest counties also had some of the largest population outflows.
(Excerpt) Read more at cnbc.com ...
Enjoy the hunting!
http://abcnews.go.com/blogs/business/2012/07/socialite-songwriter-denise-rich-renounces-citizenship/
Amen brother!!
I’m currently doing a 3-5 stretch in the Peoples Penetentiary of Montgomery County!
After that, I’m flyin’ the coop!
They have opera but I don't think its performed by Italians.
There are some interesting numbers below....at some point its gonna start looking like a “bank run” ...which is essentially what it is...
The Feds are desperately worried some of the 50% of the population they use as cash cows to help them fund their delusions are catching on...and leaving....
“Last year, almost 1,800 people followed Superman’s lead, renouncing their U.S. citizenship or handing in their Green Cards. That’s a record number since the Internal Revenue Service began publishing a list of those who renounced in 1998. It’s also almost eight times more than the number of citizens who renounced in 2008, and more than the total for 2007, 2008 and 2009 combined.”
http://www.reuters.com/article/2012/04/16/us-usa-citizen-renounce-idUSBRE83F0UF20120416
Even more alarming....in 1997 the list was ONLY 90 people renouncing...so that year, 2011, it was TWENTY times greater that in 1997...
http://www.gpo.gov/fdsys/pkg/FR-1997-01-30/html/97-2283.htm
FRiend ... there is a difference between “opera” and “opry” - though both can be very enjoyable! -SMILE-
What they need to do is pass a law that no one can move from the state! Anyone who leaves the state without approval will have all their money and goods taken over by the state! That would work! Didn’t they do this in the USSR? See who well that worked.
Maryland “Freak State” PING!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.