Changes

Although Martin O'Malley has not yet released a formal tax plan, he supports the creation of a financial transactions tax. [http://apps.urban.org/features/tpccandidate/] He has also suggested creating a new tax bracket for people earning over $1,000,000 and taxing capital gains at ordinary marginal income tax rates. [http://www.presidency.ucsb.edu/ws/index.php?pid=111178 (DD3)]

While governor of Maryland, O'Malley used tax increases to fund many government programs. [http://www.pbs.org/newshour/updates/martin-omalley-believe-candidate-stands-11-issues/] He made the Maryland tax code more progressive by increasing taxes on the wealthy. He believes in funding Social Security benefits by lifting the cap on Social Security taxes. [http://apps.urban.org/features/tpccandidate/]