Wylie Coyote -once again let down by his own genius…
Genuinely, I’m really not being as lazy as it seems to dust off old posts. Just sayin’ that we might not get many links or Instalanches, and we’re not as lettered as VDH – but we can spot a trend / unintended consequence
From May 2011:…,”Wylie Coyote ‘super genius’ taxation”
Definition of Wylie Coyote Super Genius Taxation: attempting to shakedown the more mobile “rich” taxpayers for more money and collecting less of it as a result.
Politicians are certain they can spend that money more wisely. They then hand the money out to others who they would really LIKE to keep voting them to the gravy train (after taking a small cut off the top for the trouble they went through to collect it). At some point, the “rich” learn the lesson and leave the state. Voila! Wiley Coyote effect in action!
Yeah, I’m saying “we told you so” – from Hot Air this year…
… a net 31,000 residents left [Maryland] between 2007 and 2010, the tenure of a “millionaire’s tax” pushed through by Gov. Martin O’Malley. The tax, which expired in 2010, in imposed a rate of 6.25 percent on incomes of more than $1 million a year.
The Change Maryland study found that the tax cost Maryland $1.7 billion in lost tax revenues
You don’t say? And….
Raise taxes on the entrepreneurs, business owners, inventors, innovators, movers and shakers all you want, but you can’t reasonably expect that they’ll stick around to pay ‘em
But, California is sooooooooooooooooo nice. The weather is great – who’d want to leave? Er….
Super genius….now, in the White House