Last month, we reported on data that suggested that a temporary "millionaires' tax" had chased millionaires out of Maryland.
The report, by the anti-tax group Change Maryland , sparked a firestorm in the state and prompted a vigorous defense by the state’s governor, Martin O’Malley, who said the state remains an economic powerhouse despite its taxes.
Now, a new set of data on job loss in the state is likely escalate the battle even more – highlighting the broader, national debate over taxing the wealthy.
Change Maryland is citing new job figures that show Maryland losing more than 10,000 jobs this year – more than any state in the nation. The Bureau of Labor Statistics said Maryland lost 11,000 jobs in June alone -- the third worst performance in the nation.
Change Maryland says the state’s high taxes and fees make it one of the most highly taxed states in the nation and have chased away jobs and job creators. The “millionaires' tax,” which imposed a top rate of 6.25 percent on people making $1 million or more, expired in 2011, but there is talk of reviving it.
"I'm deeply concerned that state government's onslaught of taxes and fees is causing us to lose businesses, jobs and taxpayers at an alarming rate," said Change Maryland Chairman Larry Hogan.Page 1 of 2 | Next Page