Another one bites the dust. If Queen had been watching Maryland’s economic high rollers over the last year that is precisely what they would be singing. Maryland, who in 2008 had roughly 3,000 millionaire tax filings. Now? Closer to 2,000. This is no phenomenon. Maryland is joining the ranks of other tax fleecing states that soak the rich such as California, New Jersey, and New York.
The tax and spend redistributionists will point their crooked fingers at the recession, which may share some blame, but their missing the mark. Each of those states (and I am certain that there are more – I just don’t have numbers on them yet) have soak the rich tax codes and redistributionist policies. Coincidence? I think not.
The successful and wealthy are simply tired of carrying more than the lion’s share of state burdens, and who can blame them. They are punished for their success and their earnings are fleeced, swiped, stolen and captured… in the interest of fairness.
Is it really fair that successful people who are productive and already carry the burdens of the unsuccessful and unproductive leachers be required to pay even more? I don’t think so, and apparently neither do they. The productive and successful people, who provide jobs, income and tax revenues have no fear of packing their bags and moving to a less bloated and punitive state.
When the wealthy leave, the middle class is forced to take up the slack for the burgeoning population of bureaucrats and entitlement leeches. Inevitably, the middle class either runs out of money or runs to another state. See New Jersey, New York and California. All of which are on the verge of collapse. Maryland is next, if it doesn’t straighten out its act – and by that I mean kick the statist left out of office and replace them with solid conservatives.
These events should put every state with a bloated government on notice…. You’re next!
…and another one gone, another one gone, another one bites the dust.