O'Malley's Budget Targets Maryland's Highest Earners
The governor's plan would result in smaller refund checks for two out of every 10 Maryland residents.
By Dave Nyczepir, Capital News Service Gov. Martin O'Malley is proposing capping income tax deductions and rolling back income tax exemptions for Maryland's highest earners as part of his plan to close the $1-billion hole in the state's $14-billion operating budget. O'Malley's plan, unveiled Wednesday morning, Jan. 18, would begin capping deductions for Marylanders making more than $100,000 and reduce exemptions for singles making more than $100,000 and couples making more than $150,000. The exemptions would disappear for singles at $125,000 and couples at $175,000. The governor said that only two out of every 10 Maryland residents would receive a smaller amount in their refund check as a result. "In order to get us through this recession …
jag
11:08 am on Monday, June 25, 2012
"“??? Yep, it's true, I hate "made in America" and I love helping rich people like Michael Phelps.” That's exactly what I've said”” …..Jag quote!" That was me mocking you twist my words, you illiterate fool. That seriously went over your head? Good lord. more ›