Letter: Higher taxes
Originally published Wednesday, July 11, 2018 at 05:55a.m.
Perhaps Joe Thomas isn’t aware what happened in two states who have attempted to impose higher taxes on the wealthy. In 2008, Maryland imposed a new tax bracket on the wealthy. One year later, one-third of the millionaires disappeared from Maryland’s tax rolls.
In 2012, California imposed a higher tax rate on millionaires. Within a year, 138 millionaires left California. Imposing higher taxes on the wealthy is not the solution it’s just a proven bad decision.