From Sen. Nancy Jacobs:
Beware! Governor O’Malley is going after the middle class with more of his tax increases. This week he announced a plan to limit the income tax deductions for anyone earning more than a hundred thousand dollars a year by ten percent.
This will devastate the housing market because it reduces the amount of money homeowners can write off for mortgage interest. People have already lost value in their homes. The housing market needs a boost and this will do just the opposite! My office has received dozens of e-mails from people who are very concerned about how it will hurt them.
I will fight this tax increase which the Democrats refer to as a “cap”. They think with that label they can hide the fact that it is really just a tax increase. Its insane to hurt the housing market and overburden working families just so the Democrats can continue to spend uncontrollably.
According to the Comptroller’s Office, Marylanders who make at least a hundred thousand dollars a year pay almost two thirds of all state and local income taxes. O’Malley should not be taxing these families even more. They are the ones who start businesses and create jobs. This move will drive away the enterprising people essential to our economy’s recovery. Higher taxes for good paying jobs will discourage businesses from moving to Maryland.
While families face fewer pay raises, higher bills and tight times, Governor O’Malley continues to be a taxaholic! He may claim lowering your deductions is unavoidable…but his proposed budget is more than a billion dollars higher than last years. I guess he thinks increasing spending is unavoidable too? As the economy limps toward recovery, I think now is absolutely the worst time to raise taxes.
It’s nice to have politicians of both political parties so worried about the “middle class”. I wish they had a “None of the above” choice on the ballot. I wonder if “None of the above” would win?
Probably. I’m already planning to likely vote against every incumbent and vote for whatever minor party candidate happens to be on the ballot. Politicians on both sides care mostly about two things. Getting elected and getting re-elected.
My wife and I “were” considering refinancing our home to take advantage of the current lower rates. This would have afforded us a little more breathing room within our monthly budget and maybe allowed us some opportunities to reinvest in our home as well as enjoy a little leisure activities within the county…….Sadly, upon hearing this news regarding this latest Maryland extortion plot we have decided to forego the refinancing, remain at the higher rate and pay our house off over the next 7 years. Since we’ve been residents of Maryland for over 50 years and no less than 20 of those in Harford County DELAWARE is looking better and better each day. Fight on Nancy but as long as this state continues to elect free spenders and wasteful managers like Marty I fear your efforts are for not….
Truth is – the “none of the above” does exist on the ballot, sort of. Each election has issues, amendments, and other political offices, etc… If you don’t like who is running for a certain office – don’t cast a vote there. At some point some bean counter for one of these political parties will notice that Candidate A got 400 votes and Candidate B got 300, and there were 3000 ballots cast. Once those 2300 voters figured out who they were, or some obscure candidate with a solution did… the discussion might look significantly different as well as election results. Of course, the first part of this relies on the reality that 2300 people need to get up and do something. Good luck with that.