A Maryland family making more than $175,000 will pay at least $254 more in income taxes this year under a revenue-raising plan theMaryland General Assembly is expected to take up when it convenes for special session on Monday.
The same family of joint tax filers with two children reporting more than $1.1 million in gross income would pay an extra $3,269 — a larger hit to the very rich.
The tax proposal would target the state's more affluent — pleasing liberals because it spares everyone in the lowest tax brackets and ensures that education and other programs won't be cut. Conservatives, however, warn it would turn away wealthy residents and hurt small businesses... http://www.baltimoresun.com/news/breaking/bs-md-session-taxes-20120510,0,185259,full.story
The same family of joint tax filers with two children reporting more than $1.1 million in gross income would pay an extra $3,269 — a larger hit to the very rich.
The tax proposal would target the state's more affluent — pleasing liberals because it spares everyone in the lowest tax brackets and ensures that education and other programs won't be cut. Conservatives, however, warn it would turn away wealthy residents and hurt small businesses... http://www.baltimoresun.com/news/breaking/bs-md-session-taxes-20120510,0,185259,full.story
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