Ted Leonsis, owner of the $20M Potomac estate better known as Marwood, has posted a friend's opinion on Maryland's tax rates for the uber-wealthy. Governor O'Malley has imposed a "millionaire's tax" at "a rate of 6.25 percent on incomes" exceeding $1M per year as well as numerous other taxes and fees. This has supposedly cost the state $1.7B in lost tax revenues as Maryland's wealthy flee to more tax-friendly havens, especially Florida. Or as a friend of Leonsis has put it: "Welcome to the United People's Republic of Maryland, Ted." [previously; CNBC; Ted's Take]
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