Maryland Losing More High Income Residents Due to Tax Rates
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Anonymous
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Oh well...
http://www.cnbc.com/id/48120446 |
Anonymous
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Yeah, I just went to their site. They don't have a study up there.
But even the data they provide tells me these people are not wealthy. Divide their claimed tax loss by the loss in residents and again by 3 years. These aren't rich people. Figures don't lie but liars figure. |
Anonymous
| Why is this surprising? |
Anonymous
Because it isn't true. |
Anonymous
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and im sure if this "study" showed that wealthy marylanders werent leaving the state that this ANT TAX group would have happily reported the results as well no?
i assume you heard them talk about this on WMAL this morning too? |
Anonymous
| It's just common sense. Anybody with a high income who can leave, will leave. Since it it common sense, it is happening. Why would anyone pay a bloated and crappy educational system if they don't have to? The states are smart to compete over smart wealthy citizens. This is what America is all about! |
Anonymous
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Dumb. How many people move out of the state in a typical three-year window? The delta is what you're interested in, not that 31,000 people moved out. What was their average income? How do you know they were affected by the tax increase? How do you know they were even motivated to incur moving costs for what was probably a marginal tax increase? Also, any snapshot of wealth between 2007 and 2010 is going to be invariably skewed by that little thing called the global financial crisis. Beyond dumb. I can't believe CNBC even wrote it up. |
Anonymous
well "common sense" would dictate then that every wealthy person in this country move to states with low or no state income tax. especially if they can afford it. but for some strange reason thats not the case. |
Anonymous
Yeah, that's why NW DC is such a barren wasteland. Something is wrong with your "common sense". 
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Anonymous
| This is just like the thread moaning about wanting to move out of Montgomery County because of PEPCO. Taxes are only one of many factors in where to live. Most people have several dozen factors that contribute to their decision where to live, when to move, etc. People rarely move over only one factor. It is usually a combination of changes that provide the impetus to move. I can imagine that a wealthy family of empty nesters who are ready to downsize, might consider the tax rate a reason to finally push them to move, but I would be very surprised if any wealthy MD residents left solely because of the high tax rate. When you consider size of family, size of home, size of property, distance to school/work, commute, school of choice, proximity to family/friends/activities, taxes, public services, individual rights, political choices, and on and on, taxes are not that significant to the majority of people when deciding where and when to move. |
Anonymous
| Taxes are a huge factor to the upper middle class.,,.they get hammered. |
Anonymous
IT is except for daddy's hand me down houses and trust fund douches. |
Anonymous
keep telling yourself that. |
Anonymous
| I think Maryland, including Montgomery County in particular, is pushing the limit on taxes. My life revolves around NW DC and inner MC, and our next house likely will be in DC. On the margin, we will be paying lower taxes. In Va, it would be substantially lower. In my view, the loss of residents is likely due to people who have 2 homes, one in Md, and one in Fl or De, which have no or low overall tax burdens. For these folks, they can simply spend a few extra weeks in their other house. I am a moderate Democrat, but Md/MC are pushing the limit. I hope Md/MC can rein in the expenditures, without a Scott Walker. |
Anonymous
DC for the past 12 years has been moving in the right direction while MoCo has been moving in the opposite direction. Squeeze, squeeze and squeeze some more. |