Make a million and live in Maryland? Congratulations! You're now subject to the first "millionaire's tax" in the nation.

The Maryland General Assembly created a tax bracket specifically for those with annual incomes of $1 million or more.

One busineness owner warns that tax-induced out-migration may happen: "There's already been a substantial migration of people of high income out of Maryland."

Christopher Summers, president of the Maryland Public Policy Institute, gets a short quote in this article. The Baltimore Sun finds some people in that tax bracket who are happy to pay the extra tax, as well as impose it on other people.

While one person quoted dismissed the extra tax as akin to getting a speeding ticket, the tax does shift money from the private sector, where money is allocated on the base of voluntary transactions of people seeking mutual benefit, to the public one, where politics protects wasteful and even harmful spending. So even if the millionaires are happy to send their money to the state capitol, the rest of Maryland residents shouldn't be so sanguine.