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Metropolitan DC Local Politics
Reply to "New MOCo Planning report released "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous] 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. [/quote] 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. [/quote] 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.[/quote]
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