Soak the rich? Not!

Politicians love to play the "the rich are getting richer and the poor are getting poorer" song. They never tire of it, even though the top 3% wage earners pay 48% of the nation's taxes. So Maryland went after the affluent and started a "millionaire tax" to get more revenue into the state's coffers. The result? The rich went to less-tax states (there was a 33% decline in Maryland's millionaires), and $100 million less flowed into the government. This story appearead on Fox Business News today.