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To: rhema
Let's be clear. The Legislature passed a complete budget and sent it to the governor. He vetoed it. Meanwhile, the governor has yet to put forward a full budget himself. Instead, he put forward a set of numbers without the details to back them up.

The governor's "plan": "Gimme money, lots of money. I don't owe the peons an explanation of where it's going."

3 posted on 07/03/2011 4:23:56 AM PDT by Caleb1411 ("These are the days when the Christian is expected to praise every creed except his own." G. K. C)
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To: Caleb1411
"We are not all that particular about taxing the rich. They won't go hungry and they can go somewhere else if they don't like it."

They will.

Millionaires go missing.

"Here's a two-minute drill in soak-the-rich economics:

"Maryland couldn't balance its budget last year, so the state tried to close the shortfall by fleecing the wealthy. Politicians in Annapolis created a millionaire tax bracket, raising the top marginal income-tax rate to 6.25%. And because cities such as Baltimore and Bethesda also impose income taxes, the state-local tax rate can go as high as 9.45%. Governor Martin O'Malley, a dedicated class warrior, declared that these richest 0.3% of filers were "willing and able to pay their fair share." The Baltimore Sun predicted the rich would "grin and bear it."

"One year later, nobody's grinning. One-third of the millionaires have disappeared from Maryland tax rolls. In 2008 roughly 3,000 million-dollar income tax returns were filed by the end of April. This year there were 2,000, which the state comptroller's office concedes is a "substantial decline." On those missing returns, the government collects 6.25% of nothing. Instead of the state coffers gaining the extra $106 million the politicians predicted, millionaires paid $100 million less in taxes than they did last year -- even at higher rates."

4 posted on 07/03/2011 4:38:03 AM PDT by rhema ("Break the conventions; keep the commandments." -- G. K. Chesterton)
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To: Caleb1411

Minnesota is a great place to live. Just too much government...


5 posted on 07/03/2011 4:43:44 AM PDT by Eric in the Ozarks (Eh ?)
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To: Caleb1411

In the US Congress, the Dems have not presented a budget for almost 800 days. The welfare state is collapsing and the Dems want to postpone the inevitable by increasing taxes. Evenutally, as Maggie Thatcher has reportedly said, “You run out of other people’s money.”


9 posted on 07/03/2011 4:53:49 AM PDT by kabar
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