Reply to Shocker, MD Income taxes to increase

Forum Index » Metropolitan DC Local Politics

Reply to "Shocker, MD Income taxes to increase"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]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/[/quote]

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.[/quote]

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). [/quote]

Then they should do so.[/quote]

Alright then good luck funding Marylands expansive welfare programs and hand outs. The tax system is already very top heavy in terms of revenue and it won’t take much to topple this house of cards. Virginia thanks you for the contributions to their economy. [/quote]

I think we'll be fine without you, bon voyage.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics