article: Millionnaires Go Missing

Found an interesting article in the Bmore Sun that claims it is Maryland's asinine estate tax that is causing them to move out, not the income tax. Read past this d-bag columnist's leftist smarmy crap and check out what the client's lawyers are saying.

http://www.baltimoresun.com/business/bal-bz.hancock22may22,0,6426003.column

 

With his outlook on it he never will become one. He'll finally realize how he should have looked at life differently and try to become one when he is 40 and his wife leaves him for one, saying "All you do is sit around here bitching about everyone else instead of getting up and doing something with your life."

 

Why, it's obvious he doesn't wish to be. It's such a dirty thing.

Of course, when the power ball hits 250mill, he'll be in line with everyone else, paying a few dollars in the hopes of becoming a part of what he alleges to despise, inspite of the 30,000,000 to one odds.

 

to keep the middle class strong, fleece the rich. the rich know they only got rich by abusing the middle class. if the rich are exercised from the US, they won't be able to stay rich.

 

---- Do you attend CAL-Berkeley?
---- The word you're looking for is "exorcised". Do you attend Michigan State?

 

Millionaire business owner
1. stay
2. move
3. lower wage

= middle class fleeced in 2/3 scenarios; millionaire wins in 2/3 scenarios.

 

If the middle class are strong, then i guess they dont need the riches tax money.

Lets put the shoe on the other foot college trader. Now lets look at your income. You probably work part time at walmart for $8.50 per hour 25 hours per week which comes to 10k per year.

60% of the world lives on less than 2 dollars per day or $700 per year. So maybe you should have your paycheck fleeced...after all, you only get that inflated american dollar wage by abusing the lower class. Why dont YOU share the wealth then? Oh? is that medicine bitter when its fed to yourself?

Thats such a ridiculous statement that if the rich had to leave the US, they wouldnt stay rich. The rich understand the principals of money and would most likely make even more money outside of the US.

 

I saw Art Laffer on about a month or two ago saying that the more ideal tax structure was to lower the taxes on the rich and raise them on the poor. In the real world, if you tax the rich or a group that has the resources to hide or evade reporting taxable income, they will do so and you as the state will collect less revenue.

Although if you raise taxes on the poor and middle classes, the groups that spend more of their disposable income than the rich, you will see a decline in consumption as respresented by monthly retail sales. Business activity may decline across the board in the short run but will be at a new, lower equilibrium in the long run. Now would that lower equilibrium in business activity be satisfactory to the masses?

Which is better? I don't know. Just don't be like California or NJ.

 

This.

 

I live in Montgomery County. Probably most of the millionaires disappearing is due to the recession. I don’t know the exact statitistics, but from my observation, there is very little, I guess you could say, consumer driven industry here. I don’t’ know if that’s exactly what I mean, but it’s pretty much all health research, tech, science and military industrial complex jobs here. So basically everybody is trying to feed off the government. Getting a Federal contract is what it’s all about. Somebody who is just trying to work up to a $15 or $20 an hour job is going to have a hard time doing that around here in the private sector. So if all the millionaires are getting rich off the government, who cares if they leave?

The top Federal bracket is what, 35%. Couldn’t the same logic be used in that? So why are all the millionaires not leaving the US? There must be a reason. Let’s say I tell you that you can go over there and rob that bank legally, but you have to pay 40% of your income in taxes. Would you hesistate about it? I’m just sayin’.

Oh and let’s first clarify the actual tax rates. Not counting any county taxes, the bracket difference between someone making 100k and 2 million is only 1.5%. Hardly worth moving over especially if the reason you make that much is the place that you live at. People should be more outraged at the fact that taxes keep going up but it seems the state is wasting the money. How come Florida has no income tax, yet their colleges are significantly cheaper than Maryland’s who has a 6% sales tax and income tax?
http://www.bankrate.com/brm/itax/edit/state/profiles/state_tax_Md.asp