Carolina Bound

Every state has its problems, but we're especially glad this month that we don't live in Maryland, where Governor Martin O'Malley has been undertaking something close to a tax-increase-a-day tour.

This was a quote from a Wall Street Journal article this week talking about O'Malley's planned tax increase. While at first he tried to hide the tax hikes behind a 3 cent cut in property tax and reductions in income tax for lower and middle income homes. It seems now the reality of these new taxes is too much to hide. I did the math for my wife and I and we would be saving about $7 per month with these reductions. Compare this with the planned 20% increase in sales tax and the broadening of the tax to cover services and that $7 is out the window real quick. And don't forget this is before the 9 cent increase in gas tax that is also planned. My wife and I are also in for a special treat as we are both starting a home based business. Under the governor's tax plan we will be facing an additional 26% increase in taxes on those businesses. For me that is a huge disadvantage as I will be competing in a national market operating under a higher tax than most of my competitors. Maybe it's time to look out of state for the next home and a friendlier place to start and operate a small business. Besides, I do have real issue with this tax increase outside of the financial strain it will cause my family. Maybe I will post my views on that later. Right now I have to go start packing...