The state of Maryland has a flat tax rate in that everyone pays the same tax rate on any income over $3000. The flat tax rate for the state has been in effect for some time with the only fluctuation being in local taxes, a measure from long ago that sucks more money from the wallets of wage earners. Maryland’s new governor, Saint Martin O’Malley, wants to change the way people in this state are taxed so that people will pay their fair share. In O’Malley’s world, fair share means rich people pay a lot more than poor people and Marty wants to accomplish this by implementing a progressive tax system.
It is a fact that the wealthy already pay the largest amount, or shoulder the biggest burden, of taxes in this country. While many will make the argument that the poor pay more in things like tobacco taxes (because they are more likely to use tobacco products) this is a specious argument because tobacco use is a voluntary behavior. Mandatory taxes, as through income tax, is not something anyone can control. The bottom two quintiles of wage earners receive more government (read tax money) than the top three quintiles. In fact, the bottom two use much more in taxes than they pay in and in fact use more in raw dollars than the rich.
O’Malley and his Democratic henchmen in Maryland have spent the state into a financial abyss. There is a huge black hole of mandated programs without funding sources which has created a structural deficit. The money has to be made up somehow and the governor will start off with a progressive tax on income. There is no doubt that there will be an increase in the sales tax, gasoline tax, and a tax on services (except the services of lawyers because the legislature is made up of ambulance chasers). The progressive tax will force higher wage earners to fork over more money so that it can be redistributed to those who make less and consume more. This, of course, is socialism 101 and Saint Martin seems to be at the head of the class when it comes to income redistribution and the defeat of capitalism.
Taxes stagnate the economy and will hurt Maryland in the long run. This is especially true because the Democratically controlled legislature loves to spend money like there is no tomorrow. The only good that will come out of this is that the progressive tax will hurt Howard and Montgomery counties, Maryland’s two wealthiest. They also happen to be heavily populated with Democrats who were on the O’Malley bandwagon when he ran for office.
I can think of nothing sweeter than those rich Liberals getting socked in their wallets by the very man they voted into office. While I personally hope it makes life miserable for them I know that the reality is this progressive tax scheme will hurt every tax payer who earns a decent living. The state will attempt to balance the books off the backs of the wealthier citizens while giving away billions in tax dollars to welfare mothers addicted to crack and ILLEGAL immigrants who are here to do the jobs welfare mothers on crack won’t.
I have an idea. How about if the state of Maryland cuts unnecessary spending and gets a handle on what is going out and where it is going? How about the idea of not making a program without a way to pay for it?
Nah, that would require responsible leaders and the politicians in Maryland have shown they are not responsible and it is evident they are not leaders.Powered by Sidelines