O’Malley signs hundreds of bills that will tint Maryland a deeper shade of blue
Source: Wash. Post
Maryland Gov. Martin OMalley signed into law a package of tax increases Tuesday targeting six-figure earners, tobacco users and companies engaged in real estate transactions to cover record spending on education.
In a two-hour ceremony, it was easily the most recognizable measure OMalley (D) signed but hardly the most popular. Rather, union members, minorities and interest groups crowded the State House to celebrate more than 200 lesser-known and often narrowly tailored bills. They passed the General Assembly with little fanfare but, taken together, will color the social and political identity of the Old Line State a slightly deeper shade of blue.
The bills included efforts to stimulate the economy, protect the environment and help family farms. And nearly a century after three-quarters of U.S. states ratified the 17th Amendment which allowed U.S. senators to be elected instead of appointed by state legislatures Maryland got on board.
One of the first bills OMalley signed was a capital budget, which will accelerate borrowing of more than $100 million to promote job growth through construction and maintenance of schools, parks and public housing.
Read more: http://www.washingtonpost.com/local/md-politics/omalley-signs-hundreds-of-bills-that-will-tint-maryland-a-deeper-shade-of-blue/2012/05/22/gIQA1gh3iU_story.html
drm604
(16,230 posts)At least we can hope.
southernyankeebelle
(11,304 posts)freshwest
(53,661 posts)Dr_Scholl
(212 posts)Maryland increased taxes on millionaires several years ago to raise more revenue. What happened? About a third of the the state's millionaires just left and Maryland actually lost money. This is one of those things that sounds good on paper, but in reality doesn't work.
The nice thing about being upper middle class or rich, is that you can get up and move whenever you don't like something.
bupkus
(1,981 posts)Giving millionaires tax breaks isn't working either in New Jersey.
A fair tax system across the nation would end tax flight. So would all those millionaires exhibiting some of the patriotism they use to get others' kids to fight wars that protect their corporate interests around the globe.
Happyhippychick
(8,379 posts)Dr_Scholl
(212 posts)aintitfunny
(1,421 posts)and considering it is an opinion piece not a news item, and considering the timing of the drop in "millionaire" tax returns (i.e. after the near collapse of the economy, ergo income), this does not serve to confirm that the great state of Maryland lost 1/3 of millionaire residents to tax flight.
bupkus
(1,981 posts)Something's making Maryland millionaires leave
December 04, 2011|Jay Hancock
The implication among some conservatives was that the higher tax reducing a wealthy household's take-home income by perhaps $15,000 had prompted a mass exodus of BMWs and Cadillac Escalades across the Potomac.
Of course the most important variable between 2007 and 2008 wasn't the increase in Maryland's top bracket on income of more than $1 million from 4.75 percent to 6.25 percent. (City and county taxes on top of that had rich folks paying top Maryland rates of close to 10 percent.)
The global economy, Wall Street and business incomes all crashed during that period. Most of the decrease in million-dollar filers that year was caused by the fact that a couple thousand of them didn't have million-dollar incomes any more.
Read more at the link.
http://articles.baltimoresun.com/2011-12-04/business/bs-bz-hancock-maryland-millionaires-20111203_1_income-tax-millionaire-surcharge-million-dollar-incomes
Roselma
(540 posts)More likely, those who were earning a million likely felt the collapse of the stock market in 2008 as well as had other setbacks. They ceased to be million-dollar earners. A study was done (warning, the following link is a pdf):
http://www.itepnet.org/pdf/MD_Millionaires.pdf
yellowcanine
(35,704 posts)I don't think so. Besides, a lot of the people hit by the income tax increases live in Montgomery County and they are saving more in property taxes because of the drop in property values than the increased income tax is going to cost them.
There is a reason why these wealthy people live in Mont County Maryland. It is called services. Yeah, wealthy people can move to wherever they want, and they move to places where they get the services they want.
Burma Jones
(11,760 posts)when we decided to move back to the DC area, it was going to be Maryland, period. We live in Potomac now, and you hit the nail on the head. We pay less than a thousand a year more in state and local taxes in Maryland than we would have had we moved back to VA - this is more than offset by the less time we spend in traffic. Add to that the open space and well maintained infrastructure - it's a bargain.
yellowcanine
(35,704 posts)Not any more. They failed to implement any sort of reasonable controls on development sprawl and make sure that development paid for needed infrastructure and now they are playing catch up. To be fair it is not all Northern VA's fault. A big part of the problem lies in Richmond with very conservative regressive government, particularly the legislature.
xchrom
(108,903 posts)hrmjustin
(71,265 posts)pardon my ignorance.
xchrom
(108,903 posts)There is a series of boxes - democrticunderground recommend, Facebook, twitter, etc.
Du rec indicates that you recommend a topic & hope it goes to the Greatest Page for more exposure.
hrmjustin
(71,265 posts)lonestarnot
(77,097 posts)Samantha
(9,314 posts)Perhaps the one sane political reality in my life at this moment is all of the great things happening in the blue state of Maryland. This state seems like a different planet than the arena I hear most of the right-wing coveting.
By contrast, one of the saddest realities in my life at this moment is all of the tragic things happening in Tennessee, from whence I came.
Sam
Burma Jones
(11,760 posts)Last edited Wed May 23, 2012, 07:46 PM - Edit history (1)
We have the highest median household income of any state in the US and are the fifth most diverse. We have the lowest poverty rate in the US. I think we're the best educated, or close to it. We have that beautiful bastion of weirdness called Baltimore. If you count DC, we have two Major League Baseball teams, two NFL teams, four Minor League baseball teams and jousting.....
We have crime and punishment. We have seafood. We have good roads. We protect the rest of the nation from Delaware.
We also have an active Ku Klux Klan chapter......
I live in Montgomery County which has almost a Million residents, we have fairly high taxes, but we get a lot for what we pay - our "achievement gap" in the county schools is the lowest for a large district in the US. Our County Police are required to have a four year degree and their pay can hit six figures fairly rapidly. You can't spit without hitting a Park or other open space. We've set aside a third of the country for Agricultural use. The median household income is about $90K. So, the tax increase is hitting Montgomery a little harder.
I lived for awhile in Westchester County, NY - the taxes (state and local) were much much higher and you got much less in return for those taxes.
I live in a liberal's paradise, yet, there are houses of worship all over the place, low divorce rates and low teenage pregnancy rates.
On Edit: You know, Reagan and the incredible expansion and privatization of the Federal Government he started is responsible for a good bit of this very liberal state's wealth - ironic, eh?
deutsey
(20,166 posts)Burma Jones
(11,760 posts)he was rendered pretty (not completely though) impotent.......
We used to have reasonable Republicans in Maryland - remember?
deutsey
(20,166 posts)he would've been our version of Scott Walker, imo.
Burma Jones
(11,760 posts)I think Bobby Haircut mostly wanted to be Governor again for the perks and even bigger lobbying bucks once he got out.
deutsey
(20,166 posts)as a pretext to push through "emergency" austerity measures. He may not have been as successful as Walker et al. in pushing that agenda forward here, but I think he would've tried.
Either way, though, it's a good thing O'Malley beat him.
Liberal_Stalwart71
(20,450 posts)Happyhippychick
(8,379 posts)Burma Jones
(11,760 posts)I like it here.......went to Magruder High.
Happyhippychick
(8,379 posts)We might be the same person!
Burma Jones
(11,760 posts)You aren't hiding something from me, are you?
Happyhippychick
(8,379 posts)Tommy_Carcetti
(43,227 posts)And now I'm in Florida, but that's another story.....
LibertyLover
(4,788 posts)I really like my governor.
Liberal_Stalwart71
(20,450 posts)Tommy_Carcetti
(43,227 posts)I really hope we see this guy make a run in 2016. He does have a presidential charisma about him.
I'm originally from Maryland but have since moved to Florida (for the weather). But damn it, I would have loved to take the Maryland government with me down here to replace this dysfunctional leadership we have right now. Especially our current governor, who apparently is a resident of the House of the Undying:
(Yes, yet another fictional fantasy character to which you can compare Rick Scott....)