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Once bitten, twice shy. I imagine Virginia has welcomed them with open arms.
Yea, because anywhere in Virginia worth is living in (which aint much) is so cheap!
In any case, this sounds like a brilliant move, especially because they feel that they can do just as well by actually LOWERING spending. Besides, nice to see a Democrat making this move.
Before anyone catches the vapors over the frugality of Gov. O' Malley you need to keep in mind that this sunsetting tax rate was adopted in a special Legislative session in 2007 (article was wrong) that was called to cut spending. It did that to the tune of $500M. The problem was that the net increase in spending for new programs that came out of the special session was $1.5B.
The income tax increase will be back and is planned to catch people in lower income brackets this year along with higher gas taxes. And, even though MD is suffering through a major recession in home sales with prices in some areas decreasing by 50%+ the State Department of Assessments and Taxation reassessed all the real property in MD over the last three years with average increases in assessments of 5% across the State.
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