Maryland Millionaires Cashing Out?

" And what you've probably been hearing about there's a billionaire Tom Golisano is sick of getting whacked with. New York State taxes so much so that the businessman -- and drug candidate has a you know I'm -- I'm tired of it. -- is the only state to see an exodus of the -- remember. In New York itself Rush Limbaugh and -- of the big swanky apartment here. He says that when it but a lot of very big states. The trend is the Red -- giving tax Salomon they bolt. And it's happening across the globe Michael -- reactor in Britain facing a 60% to operate Michael -- when all of movies it was a very. -- guy he went ballistic. And he said he's he's moving to the poconos. -- Significant attention on that you -- Stevens joining me right now. -- what the Baltimore regional. He's the director there the progressive Maryland. And supported that states millionaire's tax now as you know Matthew. The argument against what you -- floor. Who is that a lot of the folks what's his -- from this tax is intended. Sort of jumped ship and then went to nearby Virginia thereby robbing you weird state of the revenues that --"

" Dead right. Well -- let me if I may. -- contacts because you know nobody wakes up in the morning and says."

" I hate millionaires who want to raise their taxes and drive them out of the state."

" Well they know it's. They bark at -- liberate millions forget it. And in Maryland we automated decision. That we were under investing in basic building blocks of middle class prosperity."

" Education health care infrastructure. And as well as -- economic competitiveness. And so we made a decision that we had to do more. And so in about a year and a half ago in the fall of 2007. We passed a two billion dollar revenue package."

" And that was supported by many elements of the business community because of the way that it makes the state. More competitive and Forbes magazine says that we are pretty competitive state. And we are also -- didn't raise yearly revenue sort of would is that right. Well the guy. Challenge is always when you're doing a big revenue increase like that you know Harry -- pay for it."

" And we want to do it -- it was -- about a third of it ended up coming from slots about a third of it ended up coming from the sales tax. "

" And the other third came from the elements that we as progressive Maryland a lobby for the increase in the corporate income tax closing corporate tax loopholes. As well as a restructuring the state income tax to make it more. Fair and balanced and you guys are off of that."

" But that you have that's going to ask you did you catch the revenue you would suspected. From the millionaire's tax because a lot of them we talk to -- developer yesterday who just coax them to come in Virginia."

" Well we are getting a lot better revenue than we would have if we hadn't done those revenue increases."

" And millionaire's tax in particular there was actually an article in the Washington Post and -- on yesterday about how the revenue numbers and generally down."

" And the Republican politicians in the chamber of commerce. Two groups that are often indistinguishable. Saying that they are the reason that that that millionaires are leaving the stage. Because of the millionaire's tax but they couldn't point to any evidence that they could name a single person I'm impressed you were able to find somebody but I'm reading yesterday that they actually did end up."

" High tax states in this country on California and New Jersey New York soon Connecticut. Armed they keep raising taxes and they all variations of millionaire tax has now. And the morning while our sisters and I don't know the more they push this. The deeper. Fiscal -- there and so I'm beginning to wonder if I really don't want."

" That this -- been studied and their studies have found that this has very little significant effect on people where people decide to live. And back in the Baltimore sun article they quoted an accountant who service high end clients who said his millionaire clients couldn't care less what the tax rate."

" I'm not I don't know what I'm debating and an inside the highways and went on but what I'm debating here. Is now all of these high tax states that are pushing you know higher taxes still they're still. Doing a crappy job right -- there's still hurting someone saying that it well in my heart attacks is where we decided where we're helping them. -- it and a pathetic way of showing it right."

" Well in Maryland we decided that we were going to invest two billion dollars a year more in our education system. And the results are clear we now the number one education system in the country we have smaller class sizes we had better -- paid and more qualified teachers more up to date technology."

" I'm that your city got so bad thanks to Jason now you wanted to have more money at a rich folks and anyway to get -- I'm not saying that's your fondest I didn't recession -- going all out yet little doubt. But I'm saying that there are a lot of low tax states. That aren't hurting as much is there a correlation well that the more he attacks old rich poor and between. -- the more they just say you know this is not a hospitable environment."

" Well if what if the argument that you're making were true then. Fox Business Network would probably be headquartered in Alabama or Mississippi will be glad you. Let me but I really don't know the frankly it's a hot dog vendors that keep me the fact of the matter is that taxes are near the bottom of the list when businesses and individuals. Decide where they're going to locate and I'll be honest -- When I wrote my letter to the getter in the Baltimore sun today was that frankly it's a slander. Against upper income Americans and upper income Merrill wonders to say. That they are so I'm civic minded and unpatriotic that they're on -- can -- unless you aren't waiting dated back to center mindedness would pay a lot of money day which arts magnet that listen I don't -- anyway -- And -- did -- there there doing their -- up I want Chinese and it's asking them for that. That that not insulting our you know that kind of come and he's."