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Quote Of The Day - Econ 101

Marylanders with high incomes typically own second homes in tax friendlier states like Florida, Delaware, South Carolina and Virginia. So it's easy for them to change their residency."

Christopher Summers, president of the Maryland Public Policy Institute, noting how Maryland millionaires were easily able to avoid the state's attempt to soak them with increase state taxes. Via WSJ.


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Comments (4)

Tax rates also have a lot t... (Below threshold)
Paul Hooson:

Tax rates also have a lot to do with a few California television production companies moving to Connecticut which offers a 30% tax break compared to California. The latest is DEAL OR NO DEAL, which moves entirely to syndication soon and is looking to cost cutting.

To (mis)quote an old ZZ Top... (Below threshold)
JLawson:

To (mis)quote an old ZZ Top song -

"(They've) got legs - and know how to use 'em..."

There is NOTHING forcing any company to stay in a high-tax state - and when the cost of doing business gets greater than the cost of moving... they're gonna move.

Same thing with folks who are being cornholed by taxes designed to make things 'fair'. When the cost of moving gets lower than the cost of staying - they'll move.

I was taking to a guy in a ... (Below threshold)
cirby:

I was taking to a guy in a bar just a few minutes ago - he just moved his business from California to Florida because of the taxes. It's cheaper for him to employ people and pay rent here plus fly them to the west coast then to keep an office open there.

I think its great that peop... (Below threshold)
GianiD:

I think its great that people that lib politicians are trying to steal from are saying effu, and moving.

Sad part is the people who support the lying thieving lib politicians wont blame them for their tax and spend policies, they'll blame 'the rich' for wanting to keep what theyve earned.




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