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Metropolitan DC Local Politics
Reply to "What’s the plan in MD if the tax base decides to leave?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The “tax base” presently and only consists of residential property taxes paid by individual households (not commercial or multi-family thanks to massive subsidies). So long as the residential real estate market doesn’t crash, the budget should hold up but the county won’t grow. Current obligations can be paid but future cannot. It will result in attrition. Starting with cuts to general services because it’s easier to take a few million off the top of the CIP than to cut specific “pet projects”. [/quote] No, the tax base includes income taxes. And, as CA and NYC can tell you, income taxes are generated in substantial part by the wealthiest. For example, at the Federal level, the top 1% pay over 35% of the Federal income taxes, while the top 10% pay roughly 70%. MC is driving out these folks.[/quote] You don’t really understand how budgeting works in MD. [/quote] I do but thank you for the feedback.[/quote]
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