New MOCo Planning report released

[Anonymous]

Anonymous wrote:Laughing that you all keep thinking there are going to be tax increases. When the Council raised taxes for the first time in nine years two years ago, they all got voted off. Do you really believe the new council would raise taxes?

It is very simple. MC is dominated by Dems. And many Dems are moving to far left on "economic justice" issues. I am a Dem, and worry about the mentality of many Dems. For example, the media highlights increasingly far left tax issues from liberal Dems, while ignoring the fact that the new House Democrats are, in fact, more conservative overall than the prior Dem caucus. Dems won the House because of moderate Dems in suburban areas, not because of AOC and her colleagues. Moreover, just read the prior posts here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
MoCo has a high average income only because it has lots of individuals making $100 to $200K a year. Wealthy obviously but not super rich. Other wealthy jurisdictions are very different, whether Silicon Valley and NYC.

And those people are the exact ones who aren’t paying their fair share in taxes. If you’re earning over $150K a year, you need to be in a top marginal rate of 90% or more.

You can earn whatever you want. But you’re only keeping $150k. The rest is going to go to the people who need it.

Great idea. Encourage upper income taxpayers to move elsewhere. MoCo not gets lower income tax revenues (which have been flat for a decade) but also lower property tax revenues. Someone has to buy the large houses in MoCo. If upper income taxpayers move, the value of those houses decreases dramatically, and property tax revenues (which are based on market values) decrease.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
MoCo has a high average income only because it has lots of individuals making $100 to $200K a year. Wealthy obviously but not super rich. Other wealthy jurisdictions are very different, whether Silicon Valley and NYC.

And those people are the exact ones who aren’t paying their fair share in taxes. If you’re earning over $150K a year, you need to be in a top marginal rate of 90% or more.

You can earn whatever you want. But you’re only keeping $150k. The rest is going to go to the people who need it.

Do not blame your financial woes on the "rich." Allowing people to keep only 10% of what they earn is called stealing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
MoCo has a high average income only because it has lots of individuals making $100 to $200K a year. Wealthy obviously but not super rich. Other wealthy jurisdictions are very different, whether Silicon Valley and NYC.

And those people are the exact ones who aren’t paying their fair share in taxes. If you’re earning over $150K a year, you need to be in a top marginal rate of 90% or more.

You can earn whatever you want. But you’re only keeping $150k. The rest is going to go to the people who need it.

Yes, they are paying their fair share. Sorry. You do not improve incomes by chasing away the rich. If your mentality prevails in MC, you will see thousands (minimum) of professionals fleeing MC, and certainly me. MC already has the highest tax burden in the region. MC must encourage the private sector to grow.

100% this. Sorry, but I'm not going to live in a county that will cap what I get to keep. Sorry that you didn't work hard enough or decided that you didn't need a higher paying job.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
MoCo has a high average income only because it has lots of individuals making $100 to $200K a year. Wealthy obviously but not super rich. Other wealthy jurisdictions are very different, whether Silicon Valley and NYC.

And those people are the exact ones who aren’t paying their fair share in taxes. If you’re earning over $150K a year, you need to be in a top marginal rate of 90% or more.

You can earn whatever you want. But you’re only keeping $150k. The rest is going to go to the people who need it.

Yes, they are paying their fair share. Sorry. You do not improve incomes by chasing away the rich. If your mentality prevails in MC, you will see thousands (minimum) of professionals fleeing MC, and certainly me. MC already has the highest tax burden in the region. MC must encourage the private sector to grow.

Yes, that was me. I was paying between federal and mont cry (state) close to .60 on every dollar I made. The ten percent prooerty tax increase was enough! Sold my house last year and left. Good riddance! I am no longer busting my ass for other people’s needs

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
MoCo has a high average income only because it has lots of individuals making $100 to $200K a year. Wealthy obviously but not super rich. Other wealthy jurisdictions are very different, whether Silicon Valley and NYC.

And those people are the exact ones who aren’t paying their fair share in taxes. If you’re earning over $150K a year, you need to be in a top marginal rate of 90% or more.

You can earn whatever you want. But you’re only keeping $150k. The rest is going to go to the people who need it.

Do not blame your financial woes on the "rich." Allowing people to keep only 10% of what they earn is called stealing.

Or d what I did, stop earning. I have more than enough and paid generous taxes. At some point I decided it wasn’t worth it. So the county no longer benefits from my income because I stopped producing one.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
MoCo has a high average income only because it has lots of individuals making $100 to $200K a year. Wealthy obviously but not super rich. Other wealthy jurisdictions are very different, whether Silicon Valley and NYC.

And those people are the exact ones who aren’t paying their fair share in taxes. If you’re earning over $150K a year, you need to be in a top marginal rate of 90% or more.

You can earn whatever you want. But you’re only keeping $150k. The rest is going to go to the people who need it.

Yes, they are paying their fair share. Sorry. You do not improve incomes by chasing away the rich. If your mentality prevails in MC, you will see thousands (minimum) of professionals fleeing MC, and certainly me. MC already has the highest tax burden in the region. MC must encourage the private sector to grow.

100% this. Sorry, but I'm not going to live in a county that will cap what I get to keep. Sorry that you didn't work hard enough or decided that you didn't need a higher paying job.

This the direction the country is going in, think about that the next time you vote.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
MoCo has a high average income only because it has lots of individuals making $100 to $200K a year. Wealthy obviously but not super rich. Other wealthy jurisdictions are very different, whether Silicon Valley and NYC.

And those people are the exact ones who aren’t paying their fair share in taxes. If you’re earning over $150K a year, you need to be in a top marginal rate of 90% or more.

You can earn whatever you want. But you’re only keeping $150k. The rest is going to go to the people who need it.

Yes, they are paying their fair share. Sorry. You do not improve incomes by chasing away the rich. If your mentality prevails in MC, you will see thousands (minimum) of professionals fleeing MC, and certainly me. MC already has the highest tax burden in the region. MC must encourage the private sector to grow.

100% this. Sorry, but I'm not going to live in a county that will cap what I get to keep. Sorry that you didn't work hard enough or decided that you didn't need a higher paying job.

This the direction the country is going in, think about that the next time you vote.

Not sure who you were responding to, but I didn't vote for any of the loonies that are in office today, with the exception of Hogan. The Dems running this county are awful.

[Anonymous]

MoCo is primarily a residential county. The only employer is basically the county government, 1-2 agencies and a few pharma sales places. The schools are no longer draw and the only thing that makes MoCo attractive is that it the houses are so much cheaper than DC and VA.

If marginal taxes rise substantially on HH making over 150K, then the affordability factor goes away. The additional tax burden negates the lower house cost. Now the costs of moving to MoCo is about the same as VA except in VA more of that money goes toward an assett that you own while in MoCo more of the money goes into the county. Plus as the housing appreciation in DC and VA is far healthier, you'll make more over time on house asset in VA. In addition, if you were looking to live in a nice area of MoCo, it unlikely that any of those extra tax dollars will go toward your nearby area.

With a big bubble of boomers about to go into retirement and start selling houses. this certainly is not a good time to make MoCo even less desirable than it already is to new residents.

[Anonymous]

Anonymous wrote:MoCo is primarily a residential county. The only employer is basically the county government, 1-2 agencies and a few pharma sales places. The schools are no longer draw and the only thing that makes MoCo attractive is that it the houses are so much cheaper than DC and VA.

If marginal taxes rise substantially on HH making over 150K, then the affordability factor goes away. The additional tax burden negates the lower house cost. Now the costs of moving to MoCo is about the same as VA except in VA more of that money goes toward an assett that you own while in MoCo more of the money goes into the county. Plus as the housing appreciation in DC and VA is far healthier, you'll make more over time on house asset in VA. In addition, if you were looking to live in a nice area of MoCo, it unlikely that any of those extra tax dollars will go toward your nearby area.

With a big bubble of boomers about to go into retirement and start selling houses. this certainly is not a good time to make MoCo even less desirable than it already is to new residents.

The bolded statement is false, and I'm not even a MOCO resident.

[Anonymous]

Anonymous wrote:

Anonymous wrote:MoCo is primarily a residential county. The only employer is basically the county government, 1-2 agencies and a few pharma sales places. The schools are no longer draw and the only thing that makes MoCo attractive is that it the houses are so much cheaper than DC and VA.

If marginal taxes rise substantially on HH making over 150K, then the affordability factor goes away. The additional tax burden negates the lower house cost. Now the costs of moving to MoCo is about the same as VA except in VA more of that money goes toward an assett that you own while in MoCo more of the money goes into the county. Plus as the housing appreciation in DC and VA is far healthier, you'll make more over time on house asset in VA. In addition, if you were looking to live in a nice area of MoCo, it unlikely that any of those extra tax dollars will go toward your nearby area.

With a big bubble of boomers about to go into retirement and start selling houses. this certainly is not a good time to make MoCo even less desirable than it already is to new residents.

The bolded statement is false, and I'm not even a MOCO resident.

The recent Sage group report suggests that MC has had almost no new businesses in 10 years, that income tax revenues have grown almost none in those 10 years, and that MC employees received pay raises that exceed those in Fairfax County.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:MoCo is primarily a residential county. The only employer is basically the county government, 1-2 agencies and a few pharma sales places. The schools are no longer draw and the only thing that makes MoCo attractive is that it the houses are so much cheaper than DC and VA.

If marginal taxes rise substantially on HH making over 150K, then the affordability factor goes away. The additional tax burden negates the lower house cost. Now the costs of moving to MoCo is about the same as VA except in VA more of that money goes toward an assett that you own while in MoCo more of the money goes into the county. Plus as the housing appreciation in DC and VA is far healthier, you'll make more over time on house asset in VA. In addition, if you were looking to live in a nice area of MoCo, it unlikely that any of those extra tax dollars will go toward your nearby area.

With a big bubble of boomers about to go into retirement and start selling houses. this certainly is not a good time to make MoCo even less desirable than it already is to new residents.

The bolded statement is false, and I'm not even a MOCO resident.

The recent Sage group report suggests that MC has had almost no new businesses in 10 years, that income tax revenues have grown almost none in those 10 years, and that MC employees received pay raises that exceed those in Fairfax County.

The bolded is not the same thing you are saying. The bolded is what is incorrect.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
MoCo has a high average income only because it has lots of individuals making $100 to $200K a year. Wealthy obviously but not super rich. Other wealthy jurisdictions are very different, whether Silicon Valley and NYC.

And those people are the exact ones who aren’t paying their fair share in taxes. If you’re earning over $150K a year, you need to be in a top marginal rate of 90% or more.

You can earn whatever you want. But you’re only keeping $150k. The rest is going to go to the people who need it.

Yes, they are paying their fair share. Sorry. You do not improve incomes by chasing away the rich. If your mentality prevails in MC, you will see thousands (minimum) of professionals fleeing MC, and certainly me. MC already has the highest tax burden in the region. MC must encourage the private sector to grow.

Yes, that was me. I was paying between federal and mont cry (state) close to .60 on every dollar I made. The ten percent prooerty tax increase was enough! Sold my house last year and left. Good riddance! I am no longer busting my ass for other people’s needs

+ I could name a dozen people who left MC at least in part for tax reasons. No brainer to them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:https://aminerdetail.com/new-report-paints-devastating-economic-outlook-for-montgomery-county/

Report certainly destroys the illusion that Montgomery County is doing well. I am a Democrat and County resident. I find the current political leadership appalling. The County has budget issues, and all the County wants to do is to tax more. It already has one of the highest tax burdens in the region. More taxes will simply drive upper income residents out of the County. Close-in County residents will move across the border to DC, with its lower tax burden. Upper upper income folks will move to second homes in Florida or elsewhere. County is attracting low income residents, while turning away high income residents. Note very low growth in income tax revenues. Great economic model. Our region has boomed over the last 10 plus years. Tax revenues should be up. But not in the County. What happens when the likely recession occurs in the next few years. The County's political leadership is clueless.

Agree with this.

+

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
MoCo has a high average income only because it has lots of individuals making $100 to $200K a year. Wealthy obviously but not super rich. Other wealthy jurisdictions are very different, whether Silicon Valley and NYC.

And those people are the exact ones who aren’t paying their fair share in taxes. If you’re earning over $150K a year, you need to be in a top marginal rate of 90% or more.

You can earn whatever you want. But you’re only keeping $150k. The rest is going to go to the people who need it.

Yes, they are paying their fair share. Sorry. You do not improve incomes by chasing away the rich. If your mentality prevails in MC, you will see thousands (minimum) of professionals fleeing MC, and certainly me. MC already has the highest tax burden in the region. MC must encourage the private sector to grow.

Yes, that was me. I was paying between federal and mont cry (state) close to .60 on every dollar I made. The ten percent prooerty tax increase was enough! Sold my house last year and left. Good riddance! I am no longer busting my ass for other people’s needs

It’s lower than Howard County and lower than the national average.

https://www.montgomerycountymd.gov/Finance/Resources/Files/2018RealPropertyRate.pdf