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.
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