Just over a year ago, Maryland, which borders my home state of Virginia, decided to raise the taxes on its residents who earn over $1 million per year -- the so-called "Millionaire Tax."
I decided to use this as the perfect opportunity to encourage Maryland millionaires to consider moving down to Virginia! Here's my blog post from April 9, 2008: Virginia Welcomes Migration of Maryland Millionaires
A couple of weeks ago, the state of Maryland reported that state tax revenues were down. 1/3 less Maryland taxpayers reporting incomes over $1 million from a year prior. Where'd they go? As this news was spreading, the producers of the Neil Cavuto Show on Fox News researched the story and called me in to discuss the effects of the Maryland Millionaire Tax.
Watch below from my appearance on Fox News national television on May 14, 2009. As you can see, I'd be happy to have more millionaires moving down to Virginia and buying homes here.
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