 America's March to Socialism: Why we're one step closer to giant missile parades is now available as an audio book... |
VOICE: The Glenn Beck program presents more truth behind America's March to Socialism.
GLENN: You know, there's a lot of things that just don't work. One of them is taxing the rich. What? Taxing the rich, no it doesn't does it work? Really? From the Baltimore Sun, one of Maryland's budget balancing tactics, asking millionaires to pay more money to the state this is from the Baltimore Sun appears to be backfiring. What? A year ago Maryland became one of the first states in the nation to create a higher tax bracket for millionaires intended to help balance the state's finances and make the tax code more progressive. But still quoting from the Sun it is finding that the number of Marylanders with more than $1 million in taxable income who filed by the end of April has fallen by 1/3 to about 2,000. Taxes collected from those returns as of last month have declined by roughly $100 million. Well, you need to tax the people who are left there even more! I can't really? You are saying that millionaires who can generally live wherever they want seem to be for attorneys and accountants and that their clients have moved out of state to avoid the new tax rate. Maryland is such a small state, it's so easy to move a few miles south to Virginia or a few miles north to Pennsylvania. So there are millionaires who are no longer going to be filing in Maryland and their tax returns. Allen Schiff, who runs an accounting firm, says that those in industries hit hard by the national downturn such as retail and banking are likely among those who no longer qualify to pay the millionaire tax. When you make that type of money, another 1% just doesn't matter. They have the attitude of, "Whatever." Really? Is that how they became millionaires? I mean, what's an extra $10,000 or $50,000 or $100,000? Who cares? Wealthy people love to give their money away to the government. And with Maryland state taxes, it's 6.5 for millionaires and the very next state over, Pennsylvania, having a 3% flat tax, surely that wouldn't inspire anyone to flee. Another 1% to 3%, 3 1/2% just doesn't matter. And the next 1% didn't matter and the other 1% just doesn't just keep raising it 1% a year. It's magic. It never matters!
VOICE: Just in case you are not getting enough socialism from Washington, try Glenn's new audio book, the March to Socialism, available now in bookstores everywhere. Free copies not available as part of the stimulus package.