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2009-05-27 Economy
Maryland Millionaires Go Missing
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Posted by Fred 2009-05-27 00:00|| E-Mail|| Front Page|| [6502 views ]  Top

#1 The obvious solution: prevent them from leaving! When freedom gets in the way of the important things, then it needs to be reduced.
Posted by gromky 2009-05-27 04:46||   2009-05-27 04:46|| Front Page Top

#2 Nah, simply consficate their wealth, all money is the Government's anyway, we just get to use it for a short while. (Sarc)
Posted by Redneck Jim 2009-05-27 05:20||   2009-05-27 05:20|| Front Page Top

#3 ...Don't laugh - a week or so back, I read an article (and it may have even been here at the 'Burg) where one state faced with the same situation suggested that they would send the people who moved tax bills anyways for the amount they would have paid if they had stayed.

No more out there than anything else...

Mike
Posted by Mike Kozlowski 2009-05-27 06:26||   2009-05-27 06:26|| Front Page Top

#4 The obvious solution: prevent them from leaving! When freedom gets in the way of the important things, then it needs to be reduced.

Ah, yes, been done before. Bounding a person to the land for production while others run and operate what passes as government management.
Posted by Procopius2k 2009-05-27 07:32||   2009-05-27 07:32|| Front Page Top

#5 Some of the loss of income may be because people are earning less, due to the recession and market losses. The obvious solution there is to tax what they would have made under ideal conditions. After all, when the legislators budgeted the spending, they assumed that the growing economy would continue to grow, so the rich people should pay for it.
Posted by Rambler in Virginia">Rambler in Virginia  2009-05-27 07:48||   2009-05-27 07:48|| Front Page Top

#6 They are not moving. Not as many are making the high incomes anymore. This is what happens when the top 10% of earners pay 70+% of income taxes.

IRS tax revenue falls along with taxpayers' income
Federal tax revenue plunged $138 billion, or 34%, in April vs. a year ago — the biggest April drop since 1981, a study released Tuesday by the American Institute for Economic Research says.

When the economy slumps, so does tax revenue, and this recession has been no different, says Kerry Lynch, senior fellow at the AIER and author of the study. "It illustrates how severe the recession has been."

For example, 6 million people lost jobs in the 12 months ended in April — and that means far fewer dollars from income taxes. Income tax revenue dropped 44% from a year ago.


Via InstaPundit
Posted by ed 2009-05-27 10:35||   2009-05-27 10:35|| Front Page Top

#7 companies should be encourage to only layoff people who do not work and/or pay taxes. This would keep the tax revenue high during recessions.
Posted by airandee 2009-05-27 15:01||   2009-05-27 15:01|| Front Page Top

#8 to only layoff people who do not work

Can't do that. Those people are protected by quotas or unions.
Posted by Glenmore 2009-05-27 21:38||   2009-05-27 21:38|| Front Page Top

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