More on Maryland's Missing Millionaires

More on Maryland's Missing Millionaires

May 26, 2009

When Governor O'Malley and Democrat legislative leaders proposed increasing the tax rate on Maryland's highest income earners - Republican Senators stood in floor debate and stridently argued that millionaires would flee the state. Some Senators even provided evidence from lawyers and accountants about the ease with which this class of taxpayers could legally change their status of residency.

The Republican debate was rebuffed as being "anecdotal." Over the GOP's objections, the Democrats passed their "tax the wealthy" plan.

As opined in the Wall Street Journal today, the short-sighted Democrat tax plan combined with the hefty Maryland estate tax has made Maryland a bad environment for millionaires. And they are fleeing - leaving a shortfall in taxes that they used to pay which results in higher taxes for you and me.

See www.mdsenategop.com.

20090526 SDOSM More on Marylands Missing Millionaires

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