Laura Smitherman reported today in the Baltimore Sun that Gov. O'Malley's tax hike on Marylanders who earn over $1 million is backfiring. It seems that many of the earners they were counting on to pay this tax have gone missing, either due to the recession or because they have vacated the state altogether. CLICK HERE to read the entire article.

Is this really a surprise? Raising taxes during a slowing economy has always been a recipe for disaster. Last year, nearly 3,000 Marylanders grossed $1 million or more. In this years filing: 2,000, a 33% drop! A tax expert with the Maryland Chamber of Commerce asserts that many folks have just packed up and left. With tax brackets more favorable in nearby states like Virginia and Pennsylvania, moving out of Maryland has now become a viable option. Combine state income taxes with exorbitant rises in local piggy-back and property taxes, it is no wonder why folks have less income year to year.

The problem with this report, is that Gov. O'Malley's appetite for bigger Government continues to grow even as revenues continue to shrink. AFP-Maryland asks the reasonable question: What's next? Will Gov. O'Malley and the legislature now go after those that make $250,000 or more? Where does this over-taxation stop...$100,000, $75,000 or how about couples that earn $50,000?