It’s From The WSJ, So It Must Be Right Wing Propaganda

The Leftists, Socialists, Progressives believe that taxing anything that moves and the Coffers would fill to the Biblical bins of overflowing. This same misguided group believes raising taxes in bad economic times is a good thing. BO’s Press Conference today was I’ll give an inch, but I want a mile in return. As many have been saying over, and over, and over, and still over agian, you raise taxes on the rich, you WILL TAKE IN LESS MONEY. It’s been proven over, and over again and again.

Millionaires Go Missing
Maryland’s fleeced taxpayers fight back.

Here’s a two-minute drill in soak-the-rich economics:

Maryland couldn’t balance its budget last year, so the state tried to close the shortfall by fleecing the wealthy. Politicians in Annapolis created a millionaire tax bracket, raising the top marginal income-tax rate to 6.25%. And because cities such as Baltimore and Bethesda also impose income taxes, the state-local tax rate can go as high as 9.45%. Governor Martin O’Malley, a dedicated class warrior, declared that these richest 0.3% of filers were “willing and able to pay their fair share.” The Baltimore Sun (Pravda on the Patapsco) predicted the rich would “grin and bear it.”

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.

More on this Moronic idea here:
http://online.wsj.com/article/SB124329282377252471.html

21 Comments

  1. But it’s only patriotic to let the rabid Leftists rob you blind in order to give money to people who did nothing to earn it… or something. That’s not the way things should be… or something.

    Nevermind how things actually work, how things “should be” is all that matters to the rabid Leftist. Facts never have, nor ever will, get in their way as they push their socialist class-warfare agenda and destroy the nation in the process.

  2. Mr Hitchcock beat me to the patriotism snark.

    One wonders where the millionaires went. York moved away from Baltimore to Pennsylvania, where we have a flat rate income tax of 3.07%.

    Of course, our friends on the left, the ones who argue for taxing higher producers at a higher rate, know full well that some will leave the jurisdictions where taxes are increased; they just figure that most of them will stay, for reasons of business and family and established ties.

    There is, of course, another possibility: perhaps some of them went nowhere, but managed to restructure their income in such a way as to avoid the higher tax rates.

  3. DP:
    York moved away from Baltimore to Pennsylvania, where we have a flat rate income tax of 3.07%.

    I’m no millionaire, but when we got here the flat income was in the lower 2% range. Then MD’s PROGRESSIVE Tax was around 4%. But now, my PA Income tax on my retirement is ZERO PERCENT. Now if I earn money, I pay State Income tax on it. When we filed the state income tax in 74 and 75 it was on a old IBM Size computer punch card. It was, You made, you pay 2.2% tax on it. We seem to cycle 8 years of Dem Governor, then 8 years of Rep Governors. Taxes went up with the Dems, and down with the Reps. Rendell’s parting shot this year was wanting to raise the income tax by a half percent. The Rep Legislature told him NO WAY.

  4. Martin O’Malley (or MOM) of MD, believes every tax he sees should be raised. I know Thousands have moved up here from all the housing and schools built. I-83 in 1974 was a ride with you and about 10 other people. When I left, it was the I-83 Motor Speedway of bumper to bumper from the Mason-Dixon Line to the Baltimore Beltway with most people taking the route number as the speed limit. (23 miles)

  5. Uh-huh:

    Maryland ranks in middle of the pack in economic prosperity, analysts say outlook could be deceiving (June 23, 2011)

    Maryland’s economic prosperity and economic outlook are pretty middle-of-the-road when compared with other states, according to a new study, though analysts warn that high incomes of some Maryland residents may be disguising larger economic problems.

    The study called Rich States, Poor States, put out by the American Legislative Exchange Council, is less pessimistic about Maryland’s economic climate than other reports, particularly the Tax Foundation which rates Maryland 44th in the nation.

    ALEC is a nonpartisan group that favors free markets, limited government and federalism — generally positions take by Republican lawmakers. The report looks at several economic and policy factors in the 50 states. States are ranked by both economic prosperity, according to the factors defined by ALEC, and the economic outlook, according to ALEC’s principles. In the report released Wednesday afternoon, Maryland ranks 21st in both.

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  6. “Of course, our friends on the left, the ones who argue for taxing higher producers at a higher rate, know full well that some will leave the jurisdictions where taxes are increased; they just figure that most of them will stay, for reasons of business and family and established ties.”

    Dana, you continue to equate higher paid people with the “high producers”. Please cite the basis for your assumption, or admit that it is your ideology.

  7. Please cite the basis for your assumption, or admit that it is your ideology.

    Maybe he will when you admit that it is YOUR ideology that is speaking about the 3/5 Compromise, and not historical FACT, Herr Fossil.

  8. You’re right Perry. Higher paid people are just lay-abouts who are only higher paid because the won “life’s lottery”. It’s the asshole on welfare who deserves the money. The more you type the crazier you get.

    When it comes to ideology, yours has become a religion.

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  9. “You’re right Perry. Higher paid people are just lay-abouts who are only higher paid because the won “life’s lottery”. It’s the asshole on welfare who deserves the money. The more you type the crazier you get. “

    I never said that, Hoagie-John, and you know it. I’m just standing up for the other producers, the workers, whom you have acknowledged in the past, but forget when your rightist ideology kicks in, like now. And, I speak against your arrogance, when you assign yourself as THE producer, forgetting completely the contributions to your successes that those who have been in your employ have made. Your attitude has come to stink, in my view, the more you type!

  10. Perry says:
    30 June 2011 at 10:59
    Dana, you continue to equate higher paid people with the “high producers”. Please cite the basis for your assumption, or admit that it is your ideology

    Then that means you have a counter argument to show low producers make tons of money. It’s just counter intuitive.

  11. “Then that means you have a counter argument to show low producers make tons of money. It’s just counter intuitive.”

    Yorkshire, what I am trying to say, though perhaps not too successfully so far, is let us not ignore the production of employees, like yourself for example. I’m sure that you regard yourself as a producer, but in some eyes, apparently like Dana and Hoagie-John, the real producers are the high earners. I reject that ideological notion! It takes all the wheels in a clock to enable it to keep the time. There is also their apparent assumption that the unemployed are lazy and don’t want to work, preferring to stay on welfare. Where’s the proof of that ideological assertion?

  12. Perry says:
    30 June 2011 at 12:03 (Edit)
    “Then that means you have a counter argument to show low producers make tons of money. It’s just counter intuitive.”

    Yorkshire, what I am trying to say, though perhaps not too successfully so far, is let us not ignore the production of employees, like yourself for example.

    Perry, there are job makers and there are hard workers. If you read this and think to yourself there has to be an easier way of making this message other than typing every single individual key stroke. Then you would say there is voice recognition software. I have it on Windows 7. I don’t use it. But if you came up with something better than that through thought waves, you would have a productive mechanism. You perfect, sell it to Bill Gates for $5M. You have become a high producer. Why? You now let the high achievers to work faster. It’s your idea. You may hafe worked on it for years, but your work paid off. You did the work, others just become more productive due to your extra hard work. So, why should you not be rewarded?

  13. “So, why should you not be rewarded?”

    Of course, Yorkshire, and that’s the way our system is supposed to work. It disturbs me, though, when some people look down their noses at the grunts who churn out the productivity as well. I am also disturbed by the Wall Street manipulators who basically make money by gambling with our money and manipulating the market with their credit default swaps and the like, not to mention their insider trading gone rampant. But that’s another topic for another time.

  14. Perry says:
    30 June 2011 at 13:05
    “So, why should you not be rewarded?”

    Of course, Yorkshire, and that’s the way our system is supposed to work. It disturbs me, though, when some people look down their noses at the grunts who churn out the productivity as well. I am also disturbed by the Wall Street manipulators who basically make money by gambling with our money and manipulating the market with their credit default swaps and the like, not to mention their insider trading gone rampant. But that’s another topic for another time.

    Well, as my Brother would say while playing Poker, “No balls, no Blue Chips” In short, if you don’t like the game of high stakes poker they play, too bad. Your envy will tear you to pieces.

  15. I am also disturbed by the Wall Street manipulators who basically make money by gambling with our money and manipulating the market with their credit default swaps and the like

    Why are you obsessed with Wall Street? They are part of the free market, and the only way they can “Manipulate” your money is if you allow them to.

    not to mention their insider trading gone rampant.

    Do you have any evidence that insider trading is any worse than it was during the 80′s, the 90′s, the 2000′s, etc.?

    In short, your rant about Wall Street seem to be based on class envy and not much more.

  16. Perry wrote:

    It takes all the wheels in a clock to enable it to keep the time.

    But without the clock maker, none of those cogs do anything.

    I don’t know if Hoagie did any actually harder physical work in his restaurants than his employees — though I’d bet he did — but he also did the lion’s share of the mental work, and he was the one who started the place so that his employees would have jobs in the first place. In other words, he produced more than the people who worked for him.

    And yes, generally speaking, the more you make, the more you have produced. It isn’t true in every case, but overall, it’s true.

  17. Dana Pico says:
    1 July 2011 at 21:40 (Edit)

    Perry wrote:
    It takes all the wheels in a clock to enable it to keep the time

    But without the clock maker, none of those cogs do anything..

    I don’t know if Hoagie did any actually harder physical work in his restaurants than his employees — though I’d bet he did — but he also did the lion’s share of the mental work, and he was the one who started the place so that his employees would have jobs in the first place. In other words, he produced more than the people who worked for him.

    And yes, generally speaking, the more you make, the more you have produced. It isn’t true in every case, but overall, it’s true.

    I think both of you have it mostly correct. You can have a clock maker make all the cogs and gears. He can do all the precision work to make the clock flawless. What Hoagie was the spring that is wound to propel the clock mechanism, the battery on clock or watch, the weights on an upright clock that keep the wheels spinning. The clockmaker can make the most elaborate clock, but if it has no way to propel it into action, you have a nice wrist ornament, or a paper weight, or a fine wooden cabinet. It is the spring, battery or weight that propels the clock. And behind all businesses there must be that propelling force, or it is dysfuctional piece of crap.

  18. addition to the above:

    Back to the original argument that millionaires are leaving by the dozens. What MD did was take the clock and say for this important gear in the clock, every time it makes an amounts of turns, you are taxed X$’s. Howver, these clocks keep evertything on time and all runs smoothly. Soon these clocks will be removed to a place that has no tax on that widget. That’s why millionaires fled MD. That’s why big business is fleeing CA for Texas, not Taxes.

  19. “I don’t know if Hoagie did any actually harder physical work in his restaurants than his employees — though I’d bet he did”

    What? You’re damn right I did. I did everything from cleaning baby poop out of urinals to stocking 12×12 walk-ins from floor to ceiling. And I loved every minute. Labor is what gives a man his value. And Perry, I don’t look down my nose at any man who works hard for a living. I honor him.

  20. Perry said: ” I’m sure that you regard yourself as a producer, but in some eyes, apparently like Dana and Hoagie-John, the real producers are the high earners.”

    You’ve got to be kidding me. Where have I ever said the “real producers” are the high earners? Do you really think that I am that shallow? I’m pretty thick-skinned but that actually hurt. Outch!

  21. “Perry said: ” I’m sure that you regard yourself as a producer, but in some eyes, apparently like Dana and Hoagie-John, the real producers are the high earners.”

    You’ve got to be kidding me. Where have I ever said the “real producers” are the high earners? Do you really think that I am that shallow? I’m pretty thick-skinned but that actually hurt. Outch!”

    OK Hoagie-John, I stand corrected. I misread the attitude behind some of your previous statements. Sorry!

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