Higher Taxes Chasing Rich Out of Maryland

Tuesday, July 10th, 2012 and is filed under News, Taxes

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It looks like Barack Obama desires to follow the failed tax model of Maryland with his new tax increases on the rich.  According to a new study by Change Maryland, a net 31,000 residents left the state between 2007 and 2010 – the period in which liberal Governor Martin O’Malley enacted massive tax increases.  Overall, they found that the flight of the rich from Maryland cost the state $1.7 billion in revenue.  So much for balancing the budget with tax increases.  Don’t expect Obama to heed the lesson.