ANNAPOLIS, Md. - The Maryland Senate on Wednesday approved an amendment to state budget legislation to squeeze extra tax money out of people who make more than $500,000 a year.
The Senate decided to apply a 5.75 percent income tax rate on all of an individual's taxable income, if the taxpayer makes more than $500,000. The measure to raise the income tax on most taxpayers previously would not have applied the top rate to all of the income earned by someone in the top bracket.
"It was a nod to the more progressive members of our caucus _ that we were listening to their concerns," Senate President Thomas V. Mike Miller, D-Calvert, said after session Wednesday night.
Republican Sen. E.J. Pipkin, R-Cecil, described the measure as a mistake.
"You're sending the wrong message to job creators," Pipkin said.
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5 comments:
Maryland has a new tax everyday it seems like
You heard it here first folks the State of Maryland announced this morning that beginning 3.17.12 there will be an additional wake up tax of $10.00 for all citizens. That's right if you wake up in the State of Maryland you will be taxed $10.00. In Delaware news the Governor thanked Vice President Biden for the increase of people staying in Delaware hotels along the Mason-Dixon Line who are trying to avoid the $1110.00 in daily taxes placed on all people that exercise the privilege of waking up in Maryland.
Stay tuned to SBYNEWS for breaking reports of a flush tax being introduced by Governor O'Malley! That's right if you crap in the State of Maryland you will be taxed based on toilets being credit card ready and available within the next 30 days!
Chip's comment is so true. All we ever read coming out of Annapolis is tax, taxes, fees.....
When is the last time the word "cut" was in headlines?
Duh! Cut is always in the headlines.school budgets cut police budgets fire budgets community organization funds cut.our government needs an overhaul of it's employees from the town levels all the way to the white house.that's where the cuts need to start!
For all those couples making over 500g's,Delaware is a great place to live and the property taxes are usually 25% of properties in Maryland.Come visit and do some shopping in our no sales tax outlets.
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