Maryland plan to tax millionaires backfires

Discussion in 'Politics' started by KMAN, May 27, 2009.

  1. KMAN
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    KMAN Senior Member

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  2. NOBama
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    NOBama Senior Member

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    Maryland plan to tax millionaires backfires

    Apparently, so did California's.
     
  3. wvulax
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    wvulax Member

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    The article kinda leans towards the idea that the economy is the reason and that MD lost tax revenue because of salary cuts. It only cites unconfirmed anecdotal evidence that millionaires are leaving the state to avoid the tax. Then at the end of the article it talks about how MD actually made money the last time they temporarily increased taxes.

    I'm gonna go ahead and say this isn't the best example of how raising taxes fail. It could be if they can prove that millionaires leaving the state is the reason why revenues fell.
     
  4. sealybobo
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    sealybobo Diamond Member

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    You are hilarious!!! This story doesn't prove that taxing the rich doesn't work. Your story only shows that we have less millionaires after Bushanomics.

    "But as the state comptroller's office sifts through this year's returns, it is finding that the number of Marylanders with more than $1 million in taxable income who filed by the end of April has fallen by one-third, to about 2,000. Taxes collected from those returns as of last month have declined by roughly $100 million."

    Where did all that money go? How about UBS? Caymen Islands?

    This thread proves that Republicans and right wingers aren't capable of thinking outside their talking points.

    The title of this story made sense and fit with KMAN's talking point so he ran with it.

    The problem is, he doesn't get it. :eusa_shhh:
     
  5. sealybobo
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    sealybobo Diamond Member

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    Read what I wrote wvulax!!!! Basically, DITTO to what you said. :clap2:
     
  6. Fraulein Hilda
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    Fraulein Hilda BANNED

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    The tax increases failed to raise the expected revenues. Revenues even fell. What else is there to say?
     
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  7. Sweet Willy
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    Sweet Willy BANNED

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    You can say that the wealthy won't pay their taxes. They hide the money. Only the people who lack the means to hide their income actually pay what they owe.
     
  8. Fraulein Hilda
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    Fraulein Hilda BANNED

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    Well, yes, they avoid taxes. Do the non-wealthy pay more than they actually have to?
     
  9. Fraulein Hilda
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    Fraulein Hilda BANNED

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    This is good. Go toward the light. Tax increases do not yield the expected revenue increases because rational people to change behavior to avoid paying taxes.
     
  10. Sweet Willy
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    Sweet Willy BANNED

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    No, they don't. What we are talking about is tax evasion. A crime.
     

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