Just an interesting little thought to have you start pondering. Did you know that as Maryland residents we have to work until April 23, 2012, just to earn enough money to pay our local, state and federal tax obligations? Talk about working for too many employers. The sad part, is we don't earn any income from any of the three, only pay to them.
While most people associate tax day with April 15, the day your federal and state returns are due for the prior year, many are now looking towards Tax Freedom Day, the day when our pay checks have reached the necessary amount that we actually keep more then we pay.
Tax burdens are different for each state depending on the level of taxes imposed on its citizens. Maryland is one of the worst. It is the 5th worst state when it comes to taxes.
As the Legislature wrestles with requests for increased taxes and fees, one has to ponder: "Will we be number 1 in the worst state for taxes after this session"?