Shocker, MD Income taxes to increase

[Anonymous]

Anonymous wrote:82% of Marylanders get a tax cut, and we see a thread calling it a tax increase. Gotta love the dishonesty. At least the title should specify that it's a tax increase for people making 750K or more.

The claim that 66 percent (not 82) are getting a tax cut is propaganda. It’s true to the extent we’re talking about income taxes, but Moore also wants to create new taxes (such as a 75 cent tax on every delivery), raise fees, and eliminate tax exemptions. A smaller number of people will break even. Most will pay more taxes when everything is added up.

[Anonymous]

Regarding most people getting a tax cut claim, the state has raised other fees that apply to everyone. The state enormously raised the car registration fee last year and that alone offsets the piddly tax cuts people might get, which I gather is under $200 on average. Raising fees is a stealth tax.

Politically, I'm going to be watching what happens in 2026 with interest.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What an odd way to characterize the governor's budget proposal.

Governor’s budget proposal to include tax cuts and ‘growth agenda’ spending

Moore: 82% of people will see a cut or no change in taxes; corporate tax rate would also be cut

https://marylandmatters.org/2025/01/14/governors-budget-proposal-to-include-tax-cuts-and-growth-agenda-spending/

but yet my taxes will go up plus a surcharge on capital gains. They just love losing wealthy residents to VA. At some point, who will stay? There is zero incentive to stay in MD when VA is 5 min from my house.

I don't think the governor's budget proposal should be based on your personal preferences. If you want to move to Virginia, then move.

They will. It happened in MA. The state raised taxes on high net worth households and saw a significant enough outmigration of those demographics, mostly to Florida, that anticipated revenues absolutely did not materialize. It's not hard to establish residency in Florida while retaining a home in MA. Even moderately comfortable people do it all the time from Maryland.

The threshold for the income tax increase is pretty low. Looks like it's $175k HHI. Which is nothing in Maryland. Nothing. Which also means most DCUMers will be paying higher taxes if they live in Maryland. It will see a push towards VA as people vote with their feet over time, which they already do. And retirees too.

I just hope Moore is really confident of his reelection chances. One reason why Hogan was so popular was he didn't raise taxes. And a strong centrist candidate running on a cutting tax platform could definitely have a chance against Moore.

And those who moved to Florida have lower "taxes" but when you factor in "fees" and the higher insurance costs, it basically evens out. Plus, you have to live in Florida, which for a lot of people is a non-starter.

Anecdotes and personal beliefs are irrelevant. Florida has substantial population growth. People absolutely vote with their feet. Affluent families have been moving to Florida for a long time now thanks to their tax codes and lax state residency requirements. In my affluent Baltimore suburb a fair few long term residents are officially residents of Florida judging from their license plates. They spend the winters in Florida, spring and fall in Baltimore and summer in New England. Completely legal and they avoid the income tax and their estate avoids Maryland estate taxes. Expect to see a lot more of this as it's not difficult nor particularly expensive for snowbirds to get a condo in Florida for half the year.

Wishing this isn't so isn't going to change anything. Maryland is steadily becoming a higher and higher tax state and it'll be interesting to see how it plays out, especially for the DMV with ease of access to DC, which you already see re relative value of real estate on either side of the river for comparable properties.

florida has population growth because boomers in the midwest and new york are going there to rot and die

You are not engaging with intellectual honesty. Many people in Maryland already have Florida residency. My godparents, dual retired Fed employees with solid pensions but not "rich" are technically Florida residents even though they spend half the year in Maryland. They get to pay no state income tax and their estate will not be impacted by the new tax code either, which will now affect far more people. There is a clear discrepancy emerging between people slightly better organized and those who are not.

[Anonymous]

Anonymous wrote:

Anonymous wrote:82% of Marylanders get a tax cut, and we see a thread calling it a tax increase. Gotta love the dishonesty. At least the title should specify that it's a tax increase for people making 750K or more.

The claim that 66 percent (not 82) are getting a tax cut is propaganda. It’s true to the extent we’re talking about income taxes, but Moore also wants to create new taxes (such as a 75 cent tax on every delivery), raise fees, and eliminate tax exemptions. A smaller number of people will break even. Most will pay more taxes when everything is added up.

The title of this thread was "Shocker, MD Income taxes to increase", and you've now admitted that this is false for at least 66% of residents. This thread is propaganda.

[Anonymous]

I probably won't leave MD, but this really makes me want to leave.

[Anonymous]

Where is Shocker, MD located?

[Anonymous]

Anonymous wrote:Where is Shocker, MD located?

That would be the entire state, obviously.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:82% of Marylanders get a tax cut, and we see a thread calling it a tax increase. Gotta love the dishonesty. At least the title should specify that it's a tax increase for people making 750K or more.

The claim that 66 percent (not 82) are getting a tax cut is propaganda. It’s true to the extent we’re talking about income taxes, but Moore also wants to create new taxes (such as a 75 cent tax on every delivery), raise fees, and eliminate tax exemptions. A smaller number of people will break even. Most will pay more taxes when everything is added up.

The title of this thread was "Shocker, MD Income taxes to increase", and you've now admitted that this is false for at least 66% of residents. This thread is propaganda.

The title is correct. Income taxes are increasing in Maryland. Why are you accusing propaganda.

By the way, as a Maryland resident I've already seen fees, including car registration fees, go up substantially under Moore. So I'm not surprised this was coming. I don't make enough money to be affected by the income tax increases (as far as I can tell) but I'm also pragmatic enough to know this will only drive more high income people out of the state. If you live in Montgomery County, it's easy enough to move to Virginia. Then you lose all their taxes outright.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:82% of Marylanders get a tax cut, and we see a thread calling it a tax increase. Gotta love the dishonesty. At least the title should specify that it's a tax increase for people making 750K or more.

The claim that 66 percent (not 82) are getting a tax cut is propaganda. It’s true to the extent we’re talking about income taxes, but Moore also wants to create new taxes (such as a 75 cent tax on every delivery), raise fees, and eliminate tax exemptions. A smaller number of people will break even. Most will pay more taxes when everything is added up.

The title of this thread was "Shocker, MD Income taxes to increase", and you've now admitted that this is false for at least 66% of residents. This thread is propaganda.

Moore’s plan will result in residents paying substantially more money for government in aggregate. The problem with Maryland’s economy is Montgomery County. Montgomery County has underperformed because of business-repelling energy taxes and local regulations and because it has failed to provide the infrastructure needed to promote growth.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:82% of Marylanders get a tax cut, and we see a thread calling it a tax increase. Gotta love the dishonesty. At least the title should specify that it's a tax increase for people making 750K or more.

The claim that 66 percent (not 82) are getting a tax cut is propaganda. It’s true to the extent we’re talking about income taxes, but Moore also wants to create new taxes (such as a 75 cent tax on every delivery), raise fees, and eliminate tax exemptions. A smaller number of people will break even. Most will pay more taxes when everything is added up.

The title of this thread was "Shocker, MD Income taxes to increase", and you've now admitted that this is false for at least 66% of residents. This thread is propaganda.

The title is correct. Income taxes are increasing in Maryland. Why are you accusing propaganda.

By the way, as a Maryland resident I've already seen fees, including car registration fees, go up substantially under Moore. So I'm not surprised this was coming. I don't make enough money to be affected by the income tax increases (as far as I can tell) but I'm also pragmatic enough to know this will only drive more high income people out of the state. If you live in Montgomery County, it's easy enough to move to Virginia. Then you lose all their taxes outright.

Run for office please

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:82% of Marylanders get a tax cut, and we see a thread calling it a tax increase. Gotta love the dishonesty. At least the title should specify that it's a tax increase for people making 750K or more.

The claim that 66 percent (not 82) are getting a tax cut is propaganda. It’s true to the extent we’re talking about income taxes, but Moore also wants to create new taxes (such as a 75 cent tax on every delivery), raise fees, and eliminate tax exemptions. A smaller number of people will break even. Most will pay more taxes when everything is added up.

The title of this thread was "Shocker, MD Income taxes to increase", and you've now admitted that this is false for at least 66% of residents. This thread is propaganda.

The title is correct. Income taxes are increasing in Maryland. Why are you accusing propaganda.

By the way, as a Maryland resident I've already seen fees, including car registration fees, go up substantially under Moore. So I'm not surprised this was coming. I don't make enough money to be affected by the income tax increases (as far as I can tell) but I'm also pragmatic enough to know this will only drive more high income people out of the state. If you live in Montgomery County, it's easy enough to move to Virginia. Then you lose all their taxes outright.

Run for office please

Moore is a one-term governor.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What an odd way to characterize the governor's budget proposal.

Governor’s budget proposal to include tax cuts and ‘growth agenda’ spending

Moore: 82% of people will see a cut or no change in taxes; corporate tax rate would also be cut

https://marylandmatters.org/2025/01/14/governors-budget-proposal-to-include-tax-cuts-and-growth-agenda-spending/

but yet my taxes will go up plus a surcharge on capital gains. They just love losing wealthy residents to VA. At some point, who will stay? There is zero incentive to stay in MD when VA is 5 min from my house.

Because they want Bethesda to look like Largo. Raising taxes on the people who can most afford to move and who are most likely to take jobs with them is insane

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:You can read the actual budget proposal here:

https://dbm.maryland.gov/budget/Documents/operbudget/2026/proposed/FY2026MarylandStateBudgetHighlights.pdf

In the introduction, they claim it's needed due to declining revenue, and increased expenses.. but don't they think raising taxes may lead more taxpayers to leave?

It happened in 2010:
https://www.nbcwashington.com/news/local/millionaires-flee-montgomery-county/2094811/

As for revenues, remember that we legalized gambling. MD gets a chunk of revenue from that -- on the order of $1.5 billion/year:
https://www.mdgaming.com/wp-content/uploads/2024/08/MLGCA-FY2024-Summary.pdf

Why not raise the gambling tax instead?

Or remember when we voted to legalize marijuana? It generated over $1.1billion in sales last year, and the states gets 9% of that so over 100 million.
https://governor.maryland.gov/news/press/pages/governor-moore-announces-more-than-11-billion-in-total-sales-during-for-first-year-of-cannabis-legalization.aspx

Why not raise the marijuana tax instead?

According to the governor's budget (PDF page 6), income tax revenue is proposed to go up by 400 million. Why not increase the sin taxes above?

And let's not forget, by not raising rates at all, Maryland still will bring in more in property taxes because assessments are up.

Did you link to the budget without reading it? These are all on page 15:

• Increase the sports wagering tax rate from 15% to 30%
• Increase the table game tax rate from 20% to 25%
• Increase the cannabis tax rate from 9% to 15% effective July 2026 (FY 2027)

They should increase the cannabis tax to 50%, stop giving away discount access to County gyms to non-residents, stop all the dumb giveaways by County departments… Maryland is already losing its wealthiest residents. This is concerning. And an estate tax at $2M? Laughable!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Marylanders elected a Democrat for governor. Certainly you can’t be shocked when they implement Democrat aligned policies. They literally are turning into the worst parts of Massachusetts.

Because they have to once again, make up for the shortcomings of the outgoing GOP governor.

The governor who left office with a 77% approval rating?

https://www.wmar2news.com/news/local-news/governor-larry-hogan-leaves-office-with-a-77-approval-rating-gonzales-maryland-poll-says

It's possible for two things to be true at once: Larry Hogan left office with a high approval rating, and Larry Hogan left the state with a structural deficit.

Hogan left office with a surplus!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What an odd way to characterize the governor's budget proposal.

Governor’s budget proposal to include tax cuts and ‘growth agenda’ spending

Moore: 82% of people will see a cut or no change in taxes; corporate tax rate would also be cut

https://marylandmatters.org/2025/01/14/governors-budget-proposal-to-include-tax-cuts-and-growth-agenda-spending/

but yet my taxes will go up plus a surcharge on capital gains. They just love losing wealthy residents to VA. At some point, who will stay? There is zero incentive to stay in MD when VA is 5 min from my house.

This makes the difference between tax rates in MD and VA quite large. The top rate in VA is 5.75%, in MD the top rate will be 10.7% after this bill passes. The top income tax rate will be almost double after that of Virginia after this law passes. A law firm partner making 2M pre-tax, will have a take home pay of 1.067M in Virginia. In MD (MOCO) their take home pay would only be 995k. Many highly compensated professionals will be interested in moving right across the river to increase their disposable income by more than 7% (6k per month).

now add in the "car tax" and other fees that Virginia has, and you will discover that living in either place is about the same.

The VA car tax isn't anywhere near $6k per month. Its a once per year tax based on the value of your vehicle. There are no other fees to live in VA.

Excuse me? Don’t you have state or Commonwealth income tax and county tax as well?