That's it!!!!! We'll just tax rich!!! Winnner!!!!

[glhs837]

Then they will move out to places like FL.

Millionaires Go Missing - WSJ.com


Glad to that part of O'spendys plan worked out so well.

One year later, nobody's grinning. One-third of the millionaires have disappeared from Maryland tax rolls. In 2008 roughly 3,000 million-dollar income tax returns were filed by the end of April. This year there were 2,000, which the state comptroller's office concedes is a "substantial decline." On those missing returns, the government collects 6.25% of nothing. Instead of the state coffers gaining the extra $106 million the politicians predicted, millionaires paid $100 million less in taxes than they did last year -- even at higher rates

Well, we still have the extra cash from the tobacco taxes to fall back on....oh, snap, thats right, that didnt work out either......

The newly revised estimate for FY 2009, the first full fiscal year with the tax increase, shows cigarette tax revenue at $408.7 million. Maryland's 100% tax increase is now resulting in just a 51% revenue increase. Put another way, Maryland is getting just half the revenue it expected. Further, the Comptroller estimates revenue to fall again in 2010 to $403.0 million. Since Maryland ramped up spending assuming the full doubling of tax revenue, it is a big contributor to the state's current shortfall.

Glad this whole thing is working out so well........

[Bean Machine]

Calm down. Everything is gonna be OK. The big O bailed us out this year, we are now in the entitlement class, and can count on being bailed out next year and for as long as He is in power...Halleluiah, amen. In fact we can spend even more than before, so all is good and right.

The of O says in chapter 6 vs 1; "What shall we do then, keep on spending so that our influence will increase? You betcha!"

[glhs837]

Wait, so its all okay? Whew, thanks, I was a tad bit worried. As long as I wont have to pay higher federal taxes to pay for the bailout money, I suppose thats great news. I wont have to pay the feds more, right, they have the money for this, right?

[xusnret]

[quote=glhs837;3772441]Then they will move out to places like FL.

You don't need to go that far south, NC is good enough. We bailed from MD 2007 saved a ton of money that would of went to taxes.