Maryland's Millionaires
Posted by Froma Harrop | Email This | Permalink | Email Author
For one brief moment I thought that The Wall Street Journal editorial Millionaires Go Missing would never bring up the possibility that, actually, Maryland's millionaires did not flee en masse for lower-tax states. They're still in The Old Line State. They're just not millionaires anymore, thanks to the deepest economic downturn since the Great Depression.
Yes, the chronicler of the American Dream did eventually mention a non-tax-related cause for the decline in seven-digit tax returns, albeit two-thirds into the piece. Given the severity of economic meltdown, the surprise is that they're down only a third.
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