Maryland: Tax hell or business paradise?
Maryland Reporter's Len Lazarick has a good summary of the annual conference of the Maryland Economic Development Association, at which I spoke on Tuesday. The gist:
“We’re positioned in a good place,” especially when it comes to investment in human capital, [economist Anirban Basu said. Despite “all this talk about a lousy business climate, we’re not a basket case,” said the economist who does consulting for state and local governments, as well as private sector clients. “If Virginia was such a paradise, you’d live there,” Basu told the crowd at the Cambridge Hyatt Regency.On the other hand, “many of the businesses do not feel loved” in dealing with government agencies, he said, and data indicates that tax levels are “on the high side.”
Comments
Jay,
After watching NG go to Virginia, I don't understand how this is even a legitimate column to write. Everyone knows MD is NOT business friendly...45th in the country if you believe the Tax Foundation reports...
I also despise Basu's arrogance when it comes to this topic..."If Virginia were such a paradise you would live there." Sure, except for the factors of uprooting my family, changing jobs/job positions/relocating, etc. And how about taking pride in where you live and trying to change it for the better instead of packing up, moving out, and giving up. Is that what Basu is suggesting? What a crock...
Posted by: Common Sense | June 11, 2010 12:42 PM
Considering Basu serves on the Maryland Business Council you'd expect his opinion to be biased. Jay, you should have noted that in the blog. His statement about moving to Virginia was just plain ignorant, even more so to be included in this blog.
Posted by: fells pt Dan | June 11, 2010 1:48 PM
@ "Common Sense"- EXACTLY!! There are probably a hundred reasons I can't move to VA. What a dumb comment by Ms. Basu.
Posted by: DeezNuts | June 13, 2010 9:42 AM
Jay,
I don't know a single manufacturer with a transportable business who would consider coming here if they had the oppurtunity/decision again. Mr. Basu and others like Greater Baltimore Committee will never say anything negative as they are part of the status quote and how they make their living. My firm can't compete against NC Va and Pa forget the Chinese.
The recent loss of NG could also start a migration of NG to Va. Is anyone local really capable/willing to understand what we face today?
Posted by: Scott Macdonald | June 13, 2010 11:01 AM
Move to VA is exactly what I AM doing with my three employees. As a small buiness owner, MD is not welcoming. An S-corp has all buiness income fall to the bottom line of your personal tax return. And MOCO has an 8.32% rating waiting for you. Of course if you do too well that rate approaches 10%. Now, considor that you are aging. You do not want to die in MD! It is one of the few states with 2 forms of death taxes. Those speed cameras are also another form of tax. They just raised the stealthy taxes on cell phone and electrical services. Add this all up and MOCO STILL has a billion dollar budget crisis. Soemthing is wrong up there.Hello VA!
Posted by: dave b | June 24, 2010 7:04 AM
Maryland is and always has been a tax hell. Unfriendly to business is just the beginning. Take a look at Baltimores infrastructure, crumbling, homeless everywhere. Just keep taking the peoples money for nothing. Time for the powers to be, to no longer be in power. Regulations on top of regulations, soon no one will be left except the welfare recipients.
Posted by: Wally Street | March 31, 2011 8:32 AM