Friday, March 27, 2009

incentives matter to the rich-- at least those in Congress

From the editorialists in the WSJ...

On the same day the House whooped through a 90% surtax on some bonuses, Bloomberg News reported that Democratic Rep. Pete Stark, a House eminento from California, may have been improperly claiming residency in Maryland to get a tax break. As you might guess, Maryland's tax bite isn't as deep as wonderful California's. This follows on news reports last week that Democratic New York Congressman Eliot Engel has been told by Maryland authorities he too may not claim his suburban Maryland home as his primary residence for tax purposes....No doubt millions of average Joes living in such tax hells as New York and California would love to work on the taxpayers' dime in Washington and live in a low-tax jurisdiction nearby.


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