Maryland and the Millionaires

Maryland spending growth, courtesy of Chris Chantrill

The Tax Foundation moans the loss of Maryland's millionaires. Above in the spending chart we see steady growth in spending.

So we have the following hypothesis to test. Were millionaires basically responsible for state expenditure growth? My theory is quite likely, low progressive rates create a push by the wealthy to shift a firm's employment expenses on to government.

So, we want to track the rate of spending in Maryland, with the millionaire socialists gone I expect a steady decline in spending as a percent of Maryland GDP and total GDP to rise.