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Metropolitan DC Local Politics
Reply to "Shocker, MD Income taxes to increase"
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[quote=Anonymous][quote=Anonymous]What are the new tax brackets? One of the PPs mentioned a tax increase at $175k HHI, but the article mentions an increase at $500k.[/quote] 175k was based on someone looking up the 82nd percentile income in MD and Moore's claim that taxes would go up for 18% of residents. Assuming 500k is top 2% or so, there must be much broader application of the capital gains tax (the detail wasn't in the publication) and effects from the elimination of itemized deductions in favor of doubling the standard deductuon that would result in another 16% seeing higher tax.[/quote]
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