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Texas Governor Rick Perry has brought his “Texas Wide Open for Business” campaign to Maryland, and he’s landed a powerful blow to Governor O’Malley while doing it.
In radio ads airing in the DC region, touting Texas’ low tax/business friendly economic climate, Perry says:
When you grow tired of Maryland taxes squeezing every dime out of your business. Think Texas…Unfortunately your governor has made Maryland the tax and fee state, where businesses and families are paying some of the highest taxes in America. Since taking office in 2007 he’s approved 40 new taxes and fees, projected to cost you $9.5 billion more through 2014, that’s a job killer. He’s even passed a rain tax on some property owners, a tax even New York doesn’t have.
The data backs up Perry’s claims.
Many Maryland businesses face the seventh highest marginal tax rates in the nation due to O’Malley’s multiple income tax hikes, and Maryland ranks second in the nation for income tax revenue as a percentage of state/local tax revenue.
O’Malley has been increased state spending by nearly 30 percent—on the backs of small Maryland’s small businesses. No wonder 6,500 small businesses left or disappeared from Maryland between 2007-2010.
Maryland’s corporate tax rate is 8.25 percent.
So much for Governor O’Malley’s new ballyhooed tautology “Better choices, better results.”
Tags: business climate, Martin O'Malley, Rick Perry, taxes, Texas
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