Shocker, MD Income taxes to increase
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Anonymous
| I'm confused, so you all don't want high income earned to pay taxes and you don't want your taxes cut or left alone and you don't want economic growth with corporate taxes cut? |
Anonymous
Ahh yeah the black guy wants to turn it into a black city, didn't take long for the racism |
Anonymous
Only the wealthiest citizens will see taxes go up, the rest of us like me will get a tax break. I'm for it. |
Anonymous
| OP is a moron. You can't cut cut cut cut and expect their to not be a decline in public services...rendered to citizens |
Anonymous
OP would probably complain that services are cut and then blame the governor for it even though they're implementing cuts to the budget in order to save money There's no reasoning with the unreasonable. These are the same people who are mad that LA funded their police department and think that's the reason why there are wildfires. |
Anonymous
| Hi Larry! |
Anonymous
| OP is probably someone who wept for the UHC CEO getting shot |
Anonymous
Good Lord, shut up. Baltimore collapsed because idiot Democrats raised taxes over and over and over again. That's why Baltimore has mind warping property and income taxes for a failed city that provides zilch in return. Baltimore also stifled businsses out of existence with massive amounts of red tape and taxation. Everyone fled the city to escape the crushing levels of taxes, and that's why propety values in Bmore haven't gone anywhere in 20 years. It has nothing to do with Baltimore being black. It has everything to do with Democrats taxing Baltimore to death to the point they killed it. They're bringing their same failed strategies that drove Baltimore into the ground and spreading it all over Maryland. Take a look around and see how many counties keep raising property taxes. Now they're increasing income taxes. Meanwhile, MD is one of the worst states in the entire country to do business in. It is just the Baltimorification of the entire state. Everyone is going to flee MD because Dems can never cut spending and only see the problems as taxation issues. |
Anonymous
What a bizarre alternative history. |
Anonymous
According to the article, 1/3 of taxpayers will see a tax increase. Does that qualify as "the wealthiest citizens"? |
Anonymous
The article says 18% would see an increase. It says 2/3 would see a cut, but it does not follow that 1/3 would see an increase, since your taxes can also stay the same. |
Anonymous
Technically yes |
Anonymous
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). |
Anonymous
| From surplus to deficits and now tax hikes. Shocker. |
Anonymous
No, that's not what it says. 18% would see a tax increase. 82% would see a tax decrease or no change. Two-thirds would see a tax decrease. I, personally, would consider the top 18% of taxpayers to be the wealthiest taxpayers. Under the proposal, the state would establish two new tax brackets. Individual earnings beyond $500,000 would be taxed at 6.25% and earnings above $1 million would be taxed at 6.5%. The state would also add a 1% surcharge on capital gains taxes for the next four years. At the same time, the state would consolidate the lowest four tax brackets and double the standard deduction that earners take on their tax returns. Those changes would offer an average benefit of $173 per household. Two-thirds of Maryland households would see an income tax cut, Moore administration officials said. |