Tag: millionaires

Not all millionaires are the same: wealth vs. income

The national Tax Foundation got into a bit of a blogging bout with Gov. Martin O’Malley’s office Tuesday over what the foundation saw as misuse of its tax figures. But another problem with the blog was its use of figures about millionaires. It confuses the 157,000 households with liquid assets of $1 million with the 7,000 or so households which have income of $1 million a year.

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Leaving state to avoid taxes is ‘a myth,’ study says

Higher state taxes don’t lead many residents to leave a state, including affluent taxpayers, a new study says. The report by the Center on Budget and Policy Priorities released Thursday uses several economic studies from academics and think-tanks to debunk the arguments that taxes drive people from states like Maryland, particularly the wealthy.

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