We must tax literally everyone but the rich
Republican celebrity Reihan Salam wants the middle class to pay the wealthy to have more heirs. (Pop!Tech 2009) Really, Republicans
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Spacey and friends at Annapolis reception to boost film tax break
What could guarantee better media coverage than a reception with a major celebrity closed to reporters, who gathered outside the Red Red Wine Bar in Annapolis as actor Kevin Spacey was ushered in the back door?
Maryland legislators and friends couldn’t resist posting pictures of themselves with “House of Cards” star Spacey on Facebook.
Read moreCut in estate tax sent to governor, who will likely sign it
In an effort to ensure Maryland’s millionaires don’t flee the state for cheaper pastures, the General Assembly approved Thursday a cut to the state’s estate tax.
After spirited debate and a 36-10 vote from the Senate, the bill was sent to Gov. Martin O’Malley, who is likely to sign the bill.
Read moreMiller ‘reluctantly’ supports estate tax cut he’s sponsoring
Though he’s listed as chief sponsor of a bill that would cut Maryland’s estate tax, Senate President Mike Miller said Wednesday he only “reluctantly” supports his legislation, and its House equivalent, which delegates passed last week.
But, Miller said, it is important to keep Maryland’s rate competitive to those of other states.
Read moreHouse votes to cut taxes on the wealthiest dead
The House of Delegates overwhelmingly approved a tax cut in Friday’s session that would benefit Maryland’s millionaires after they die.
In a 120-13 vote, the House voted to exempt more assets from the estate tax, which taxes a property of a deceased individual if it’s valued at $1 million.
Read more9 things to know for filing your 2013 taxes
With constantly changing tax laws, new forms, and no lack of contradicting advice, tax season can be daunting for even
Read moreAssembly leaders back cutting estate taxes, but opponents knock break for wealthy
General Assembly leaders say they are fearful wealthy Maryland residents are moving out of state because of Maryland’s high estate tax and are promoting legislation that would cut the “death tax”
Maryland imposes a tax when property is transferred from the deceased to a living relative, if that property is valued at more than $1 million — the tax caps at 16% of the entire estate.
Read more50 percent hike in cigarette tax gets hearing
Health care advocates are stoking the tax fires again with legislation that would make Maryland’s tobacco taxes some of the highest in the country.
The Senate Budget and Taxation Committee heard testimony Wednesday on SB 589, which would increase the tobacco tax rate from $2 for a pack of cigarettes to $3. The bill also calls for steep hike on all other tobacco products — from 30% to 95% of the wholesale price.
Read moreCommentary: Minimum wage and Earned Income Credit go hand in hand
Maryland’s Earned Income Credit (EIC) and minimum wage work best in combination to reduce poverty and income inequality. Increasing both would put our state on a better path to economic prosperity and opportunity for all. Benjamin Orr of the Maryland Center on Economic Policy responds to Barry Rascovar’s column.
Read moreNo new taxes this year, O’Malley says, but Vinny DeMarco seeks one more
But along with the usual talk of “tough choices” and “moving forward,” Gov. Martin O’Malley’s State of the State Address is likely to tout that he balanced his proposed fiscal 2015 budget with “no new taxes or fees.” Thank God, most Marylanders would agree, but not Vinny DeMarco, persistent advocate of higher taxes on cigarettes and booze for the sake of public health as president of Maryland Citizens’ Health Initiative.
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