Maryland's Missing Millionaires 5/09

Under Governor O'Malley, Maryland continues to get unfavorable national press.  Last year, we saw the state's business rankings plummet as a national alert went our about Maryland being a bad place to run a business.

Today, we are touted as a bad place for millionaires.

Not only does the decoupled estate tax drive high-income residents from the state, but when coupled with the O'Malley "tax the wealthy" new brackets for personal income tax rates, it is no surprise that returns in the Comptroller's office indicate that high income households are fleeing the state.

Both of these proposals were fought by the Senate Republican Caucus - but to no avail.

While the Governor and Democrat legislative leaders downplay such adverse economic trends, the national media takes note - such as in today's Wall Street Journal editorial (click here).