WASHINGTON (AP) — After nearly three hours of angry debate, the D.C. Council voted Tuesday to raise income taxes for the district’s wealthiest residents, a last-minute move intended to soften the blow of a previously approved new tax on municipal bonds.
The Council voted 7-6 to hike the tax rate for residents making $350,000 or more to 8.95 percent, one of the highest in the country.
Presently, all district residents making $40,000 or more are taxed at an 8.5 percent rate.
4 comments:
It's just a matter of time before they come for our money too.
see how many of them move out of dc
funny thing about this vote, several of those voting had not paid thier taxes in the past. interesting how they don't pay but want others to pay even more!
LOL! typical washington bs!
I don't think people are really thinking about how reasonable that is. I don't know the exact figures but I am sure after state and county taxes I and most other MD residents pay more than 9%. Obviously in DC this one tax is the same equivilant.
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