After Maryland raised the income tax rate to 6.25% in 2010 on those making $1M+, within 2 years, "more than 1000 of them no longer filed returns in the state. MD collected $250M less from taxpayers in that bracket than it did before the increase."

 

After Maryland raised the income tax rate to 6.25% in 2010 on those making $1M+, within 2 years, "more than 1000 of them no longer filed returns in the state. MD collected $250M less from taxpayers in that bracket than it did before the increase." - The Wall Street Journal https://t.co/aC46Q57BOX

— Robert Dyer (@BethesdaRow) February 4, 2025