From an old pal, recently retired from a career in the military, who just moved to Maryland:
As you know, I recently relocated to MD to take a good position as a
college professor. MD is a VERY blue state and recently replaced
Governor Robert Ehrlich with the VERY liberal former Mayor of
Baltimore Martin O’Malley. Recently Gov. O’Malley called a special
session of the VERY BLUE legislature to deal with a huge budget
deficit (read gross entitlements and over expenditures). I give you
one guess what the result was. Yes indeed you guessed it, a MASSIVE
tax increase and class warfare. Here are the basics as reported by
the Annapolis Capital:
Income Taxes: Changed from a flat tax (4.74%) to a graduated tax
with three brackets 5% for single filers who make $150K or more and
joint filers who make $200K; 5.25% for singles making more than$300K
and joint filers making more than $350K. If you make more than $500
K you pay 5.5%
Exemptions: Kept the same for middle and lower income filers but
soaking those who make more by reducing their exemptions (So we soak
you for making more AND we get even more by reducing YOUR exemptions)
Sales Tax: 1% increase to 6%
Tobacco Tax: Double from $1 to $2 per pack (hmmm, who does this
little sin tax afffect? Lower income folks who are the predominant
CORPORATE INCOME TAX: ( This is thievery) Raised from 7% to 8.5%!
MD is now officially industry’s enemy and I predict many will now
look to move to other less oppressive states (DE, VA, PA, NC). How
many jobs will be lost and of course the slime Dems will blame evil
corporations. Those who stay will pass this tax on to consumers.
Titling Tax: Raised from 5% to 6% again sticking it to consumers of
THIS is what happens when democrats take over. If Hillary wins in
2008 and the House and Senate get larger Dem majorities we can all
expect to be declared rich and have our wealth confiscated.
It’s amazing. For the first time in my life I am making an above
average wage and MD is going end having me net LESS even though I get
military retirement (which they tax of course) and my current salary.
I predict that many hard working citizens in MD will now look to
relocate. I’ve only been here for 4 months and I am looking for work
in more tax friendly states. There is going to be white collar
flight from MD and it will not close its deficit and will ultimately
take in LESS revenue as we have seen so many times with these types
of confiscatory tax schemes which pit hard working folks against
those who don’t do as well financially.