Skip to comments.Texas vs. Maryland: Opposing Economic Strategies
Posted on 09/24/2013 3:00:20 PM PDT by ThethoughtsofGreg
Recently, Texas Governor Rick Perry and Maryland Governor Martin OMalley had a verbal sparring match on CNNs Crossfire. Both participants mentioned various statistics and claimed the mantle of economic success for their states. However, the two strategies are nearly polar opposites.
Governor OMalleys strategy has been to increase government spending in an effort to create jobs. Unfortunately for Maryland residents, high levels of spending require much higher levels of taxation. Maryland has one of the highest combined state and local personal income tax rates in the nation at 8.95 percent on top earners and its corporate income tax rate is nearly as high at 8.25 percent. Additionally, Maryland is not a Right-to-Work state and still levies both a death tax and an inheritance tax.
On the other hand, Governor Perry has taken a much more hands-off approach to growing the Lone Star States economy. Texas focuses on reasonable regulation and limited taxation. In fact, Texas is one of nine states that does not levy a personal income tax on wages. Texas also does not have a traditional corporate income tax rate. It does, however, levy a one percent margins tax on businesses that have more than $1 million in gross receipts. Finally, Texas is a right-to-work state and does not levy a state death tax or an inheritance tax.
(Excerpt) Read more at americanlegislator.org ...
The insult is comparing the lowly Maryland to Texas in the
first place. Mary Land is chump change compared to Houston
alone much less the rest of the state. Did Mary Land ever
get paved roads, indoor plumbing and electricity?
I think it would be better that Mary Land be compared to
Mexico. Even then it would be a stretch.
Why do they show OweMalley and Noot?
AS a resident of Mary Land, let me say this about that...
..I totally agree.
That does not make jobs that produce anything. It just makes governments bigger and taxes higher. O'Malley is an idiot.
Hella debate by Perry.
Tough son of a gun.
Proud of Texas.
And I’m proud of him...
I don’t know...Having lived in MD for 36 years of my 48 and having been to Houston on numerous occasions because my brother and his family live in West U in a house that goes for over $2mm. I’d have to say that Texas politics are great but the state is a shithole. Whereas Maryland’s politics SUCK but is a pretty state from shining sea to the majestic mountains. Oh they get you on property taxes in Texas too...my brothers 2 houses(one in Galveston) cost him over $70,000.00 per year IN PROPERTY TAXES. I’ll be there next week as a matter of fact...
The basic fallacy of communist thinking.
The only thing that is thriving in Maryland is government. Those businesses OweMalley talked about, well, yes, they're in Maryland but they're ALL downsizing.
My advice to Maryland businessmen, get out of Maryland before you become extinct.
That is also quite true.
I would have to be Leery of any statistic Owe Malley used.
For libtards, it's not about growth, it's about resentment against achievement and punishing the good for being the good. The rich have to be punished and must share the wealth with the parasites to make the libtards feel good inside.
I think it was just a practice debate for O’Malley’s future bid for president, set up by CNN.
He will be a dangerous foe if Hillary flames out. Think of him as Leviathan’s plan B. He’s the backup communist.
This guy is a family man with a squeaky clean background. He grows more polished every year. He is a product of the machine through and through. If he gets the opportunity to do for the country what he’s done for Maryland, we’re toast.
BreezyDog: Your brother lives in West U? A wealthy city inside of a city. Multi-Million Dollar homes are quite the luxury. I live in a poor suburb of Houston where my 10 year old brick 2412sq. ft. home is worth about $200,000.00 and my TOTAL property tax is just less than $3,300.00. This is more of the typical home in middle class Texas.
So it’s all relative...they get you coming and going. I live in a smaller house than you that appraises for ~$450K and my property taxes are ~$2300. I take it in the keister with the state and local income tax. The rich are getting raped relatively speaking IMHO...I’d go Galt and move to New Zealand if I had a bunch of money.
Tula, why don’t y’all move on down here to Texas. Just bring your furniture and come on down.
Thanks, but we'uns got too many roots right now to try to break away. Besides, I'm thinkin' about one of them thar gubermint jobs, the only thing that thrives in Maryland.
You guys are scaring me. I live in Maryland, worst of the worst. My house is appraised at $400,000 and my property taxes are $2,500.
Why is Texas so high?
No state income tax.
I live in a "wealthy" school district. My property taxes on a $250K house are about 6K. But we pay ZERO in state income tax, whereas we would be paying at least $8K if we lived in Maryland.
I take exception to those remarks. Shoot, all your "majestic mountains" are not much more than grassy knolls compared to the Franklin Mountains in El Paso (7000 ft elev).
There's likely a whole lot of Texas that you've never seen.
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