Maryland soaks the rich.....@100k

[JustRalph]

Maryland already had a tax for half millionaires which started for anyone who made 500k.

The Senate voted today to drop that limit down to 100k.

Expected to pass and the Governor will sign it. In fact he wanted more taxes and larger increases.

I predict they drop it to 50 k in less than 4 years.

[Tom]

Better look both ways at intersections there - big exodus of pissed of people will leaving the state.

[cj's dad]

When Md. passed the so-called millionaires tax a while back the state lost money as many left for Delaware. It's already happening since the sales tax increase, This will expedite the exodus.

[NJ Stinks]

If the following is correct, what $100G earner is going to move out of Maryland to save 1/4 of one percent in state income tax?

Under O'Malley's plan, individual taxpayers with federal adjusted incomes between $100,001 and $125,000 will see their rates rise from 4.75 percent to 5 percent. Higher brackets will see rates increase to as high as 5.75 percent. For families, the higher rates will start with adjusted incomes of $150,001.

I also found the info below from the same article worth pointing out:

Senate President Thomas V. Mike Miller Jr. and House Speaker Michael E. Busch said they have the votes to pass the tax plan and block any Republican attempts to filibuster in the Senate.

Miller said the new rates are a return to the ones in effect before tax cuts were implemented in 1997.

Link: http://www.capitalgazette.com/maryland_gazette/top_stories/o-malley-budget-to-raise-taxes-on-top-earners/article_f77e4fb7-bdef-544a-9013-10d5952d1109.html

[JustRalph]

They originally wanted 1%. They have settled for .25

What the future holds is another problem....Who knows what's next? i drove over to West Nyack NY this morning. Just got home. About 40 bucks in tolls round trip. Maryand has already set n motion a plan to raise tolls about 75 percent over the next 5 years. No time like the future to get out. I am. Approx 60 days left in The Peoples Republic of Maryland.

I am moving to a state with no state taxes. I will put some serious money in my pocket next year, that i didnt have in the last 2 years. Not to mention a cost of living decrease of 25%. Housing decrease of 40%. Adios!

[Tom]

Hey Dennis,
If you hear of anyone leaving and heading to NY ( :lol:), ask them to bring a sack of Tasty Cakes with them!

[cj's dad]

IMO, you just don't get it. Why do pols constantly raise taxes to pay for services that those being taxed the most really don't need ??

40+% pay ZERO, LETS JUST KEEP BANGING THE CRAP OUT OF THOSE ACTUALLY WORKING AND PAYING TAXES TO SUPPORT THOSE WITH NO SKIN IN THE GAME.

sorry I hit the caps lock and don't feel like retyping the last paragraph.

[cj's dad]

Hey Dennis,
If you hear of anyone leaving and heading to NY ( :lol:), ask them to bring a sack of Tasty Cakes with them!

Ralph is leaving, :ThmbDown: but he's heading southwest.

[Robert Fischer]

IMO, you just don't get it. Why do pols constantly raise taxes to pay for services that those being taxed the most really don't need ??

40+% pay ZERO, LETS JUST KEEP BANGING THE CRAP OUT OF THOSE ACTUALLY WORKING AND PAYING TAXES TO SUPPORT THOSE WITH NO SKIN IN THE GAME.

sorry I hit the caps lock and don't feel like retyping the last paragraph.

Those good folks on the other side of the equation will claim that their taxes amount to a higher percentage of their income. That their cost of living is also higher on a relative basis.
...
however 100k sure isn't rich. :confused::confused:
We use a lot of goofy euphemisms with money.

The television broadcast calls working class people "the middle class".


Now the tax people are telling us that the upper-middle class folks making 100k are "rich". :eek:

it's all BS :D

[NJ Stinks]

They originally wanted 1%. They have settled for .25

What the future holds is another problem....Who knows what's next? i drove over to West Nyack NY this morning. Just got home. About 40 bucks in tolls round trip. Maryand has already set n motion a plan to raise tolls about 75 percent over the next 5 years. No time like the future to get out. I am. Approx 60 days left in The Peoples Republic of Maryland.

I am moving to a state with no state taxes. I will put some serious money in my pocket next year, that i didnt have in the last 2 years. Not to mention a cost of living decrease of 25%. Housing decrease of 40%. Adios!

If you are happy living in the Southwest, it's a good move for you, Ralph.

I guess I look at it differently. I'm willing to pay extra to live in the Northeast. Probably because of family as much as anything else. But if I was going to move, it would be out of the country. Not that I really want to go ....athough a few here might pay for my Letters of Transit! :)

[NJ Stinks]

[QUOTE=cj's dad]IMO, you just don't get it. Why do pols constantly raise taxes to pay for services that those being taxed the most really don't need ??

40+% pay ZERO, LETS JUST KEEP BANGING THE CRAP OUT OF THOSE ACTUALLY WORKING AND PAYING TAXES TO SUPPORT THOSE WITH NO SKIN IN THE GAME.

QUOTE]

I know we disagree. I just don't know how we can avoid taking care of those with little means/ability to take care of themselves. If the services don't come from those who can afford it, the result seems worse to me than paying a few dollars more.