Maryland's millionaire exodus

[Anonymous]

http://www.csmonitor.com/Business/The-Daily-Reckoning/2010/1010/Maryland-s-millionaire-exodus?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+feeds%2Fcsm+%28Christian+Science+Monitor+|+All+Stories%29&utm_content=Google+Reader

[Anonymous]

Interesting, and I agree with the article.
I'm willing to bet that you are about to get lambasted though. Christian conservatives are banned from this forum...didn't you know that????

[Anonymous]

Anonymous wrote:Interesting, and I agree with the article.
I'm willing to bet that you are about to get lambasted though. Christian conservatives are banned from this forum...didn't you know that????

Lol. I bet you are right. But CS Monitor isn't a religious publication despite it's name. Here is another article in a "friendlier" newspaper saying largely the same thing.

http://www.nytimes.com/2010/10/10/business/economy/10view.html?partner=rss&emc=rss

[Anonymous]

Anonymous wrote:... Here is another article in a "friendlier" newspaper saying largely the same thing.

http://www.nytimes.com/2010/10/10/business/economy/10view.html?partner=rss&emc=rss

That's not an article, it's an opinion piece. And the writer is a former Bush adviser. He's an economist, so I presume his calculations are correct, but I think his assumptions are ideology-driven.

[Anonymous]

It's toatal bullshit. Every year, a certain number of older wealthy people retire to southern states. Normally they are replaced by young newer wealth, but in this economy it is not happening. Add to that the number of wealthy who fell below 1 million in annual income who still made 8-900K but don't qualify, and you have your answer.

[Anonymous]

Wow, so if the wealthy are moving out of Maryland then I suppose I can finally pick up a house in Potomac or Bethesfa for 300K-500K. Phew! I was wondering how we would ever afford a home bigger than a cardboard box in these areas since they are all multi-million dollar homes.

[Anonymous]

The Wall Street Journal runs an editorial every time the MD legislature passes a tax law like this. Too bad the local papers are too liberal to do the same. This law really hurts small business owners - there is a loophole that gets those whose revenues (not profits) are above a million. I guess that is why all the new companies start in Virginia.

[Anonymous]

Anonymous wrote:Wow, so if the wealthy are moving out of Maryland then I suppose I can finally pick up a house in Potomac or Bethesfa for 300K-500K. Phew! I was wondering how we would ever afford a home bigger than a cardboard box in these areas since they are all multi-million dollar homes.

[Anonymous]

Millionaire here - this is bullshit. Maryland is my home, and I am happy to pay my fair share of taxes and even more to support this great state. No one I know has moved because the top tax rate has increased marginally.

[Anonymous]

The Md tax as well as the proposed DC tax does provide a long term disincentive for wealthy. For the wealthy who no longer work or who can work from a distant, high taxes simply provide an incentive to change their state of residency to wherever their second home is located. Increasing tax rates provides an incentive to do this sooner rather than later.

[Anonymous]

No one is going to write a retraction when these "disappeared" wealthy re-emerge as the economy bumps up again. It's shoddy journalism. And CSM was just parroting the WSJ piece without any sources or data. Years ago that would have been beneath them.

[Anonymous]

Anonymous wrote:Millionaire here - this is bullshit. Maryland is my home, and I am happy to pay my fair share of taxes and even more to support this great state. No one I know has moved because the top tax rate has increased marginally.

I love you!

[Anonymous]

Anonymous wrote:Millionaire here - this is bullshit. Maryland is my home, and I am happy to pay my fair share of taxes and even more to support this great state. No one I know has moved because the top tax rate has increased marginally.

+1

[Anonymous]

Anonymous wrote:Millionaire here - this is bullshit. Maryland is my home, and I am happy to pay my fair share of taxes and even more to support this great state. No one I know has moved because the top tax rate has increased marginally.

Millionaire here too, although the number means little in this area.

I left The Peoples Republic of MD 3 years ago and took my business with me, for several reasons. Taxes and regulation topping the list.

I now happily reside in the Commonwealth of VA. You should try it. Life is far superior. Overall lower taxes, business friendly and a Governor and Attorney General who are willing to answer to their constituents and not the powers that be in the federal government.

Even the small things, like home improvement are easier here, you just do not have so much governemt breathing down your neck.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Millionaire here - this is bullshit. Maryland is my home, and I am happy to pay my fair share of taxes and even more to support this great state. No one I know has moved because the top tax rate has increased marginally.

Millionaire here too, although the number means little in this area.

I left The Peoples Republic of MD 3 years ago and took my business with me, for several reasons. Taxes and regulation topping the list.

I now happily reside in the Commonwealth of VA. You should try it. Life is far superior. Overall lower taxes, business friendly and a Governor and Attorney General who are willing to answer to their constituents and not the powers that be in the federal government.

Even the small things, like home improvement are easier here, you just do not have so much governemt breathing down your neck.

First millionaire here - government breathing down my neck??? What a fucking joke. I breathe down it's neck. True, if I were a radical evangelist christian, I would prefer the rabidly Christian politicians of Virginia.