The Other McCain noticed that a bunch of liberal legislators got smacked up again by reality after raising taxes on the wealthy. They expected mad cash to come flying in but guess what actually happened. The wealthy got up and left.
Glenn Reynolds asks, "Who Is John Galt?" in response to this Wall Street Journal editorial about Maryland (where I live):Continue reading>>>
Maryland couldn't balance its budget last year, so the state tried to close the shortfall by fleecing the wealthy. Politicians in Annapolis created a millionaire tax bracket, raising the top marginal income-tax rate to 6.25%. . . .