My state of Maryland is a great example of why higher taxes typically aren’t such a great idea.
According to “anti-tax group” Change Maryland – as reported by CNBC, typically a bastion of liberal leftist propaganda – some 31,000 residents left the state between 2007 and 2010 due to Governor Martin O’Malley’s “millionaire’s tax,” which mandates a 6.25% rate on residents making an annual income of $1 million or more.
In all, the charge allegedly cost Maryland $1.7 billion in lost tax revenue.
In other words, it placed further financial burdens on the people and simultaneously didn’t do the government any fiscal good. A classic lose-lose situation.
Apparently, “in total, Maryland has added 24 new taxes or fees in recent years” and “Florida, which has no income-tax, has been a large recipient of Maryland’s exiled wealth.”
You’d think this kind of information, complete with supporting studies, would clue in liberals like Maryland’s U.S. Representative and Senate Minority Whip Steny Hoyer. Yet apparently it doesn’t have the slightest effect on their willful ignorance, since he not only “support[s] the president’s level” in heaping higher taxes on those making $250,000 or more a year, but also “would be prepared to go lower at some time in the future” when it comes to taxing other income brackets more heavily.
It’s not fair to place all the blame on the politicians, though, when Maryland is overrun with such economic ignoramuses only because it consistently elects and reelects liberals who couldn’t properly manage a seasonal snow cone shack, much less a government office with its numerous real and assumed responsibilities.
So if politicians like Martin O’Malley at the state level and Steny Hoyer at the federal level actually represent a majority of their constituents, it seems safe to say that the majority of Maryland constituents are about as ignorant as they come.