Posted on 05/26/2010 7:19:15 PM PDT by SeekAndFind
New York State Assembly Speaker Sheldon Silver is reportedly pitching a plan for an increased "millionaire's tax" aimed at 75-85 thousand New Yorkers making $1 million or more a year.
Political columnist Fred Dicker , who appeared on Wednesday's Good Day New York, says Silver secretly proposed a $1 billion tax hike on the highest income earners to Gov. Paterson.
The plan would jack up a current millionaires tax another 11-percent. The current "millionaire's tax" actually starts affecting people who have incomes over $200,000. High income tax earners would pay more than 13-percent of their salary in local taxes.
The highest one percent of income earners account for about 36 percent of all state taxes.
The state is trying to close a $9.2 billion deficit.
(Excerpt) Read more at myfoxny.com ...
In 2009, Corzine enacted a millionaire’s tax in NJ. $70 billion of wealth left the state.
The NJ Legislature voted to renew the tax, but Christie won’t sign it.
Watch the movie "Dr. Zhivago." The Russian revolution created just such a situation well-portrayed in that movie.
The formerly wealthy family at the center of the story used to "own" their house but were forced to "share" it with many communist comrades after everyone became "equal."
The former owners were forced to retreat into a smaller and smaller part of their own house by demand of the communist party.
I think such a law in New York would be fantastic for Texas. Texas would gain more Fortune 500 headquarters and finally pull ahead of New York.
New Yorker (Noo Yawkah): One too stupid to get out.
If you make >$1,000,000 per year and pay ANYTHING to New York, it is by choice.
Good on ya!
Wyoming
...no income tax and if you live close enough to
Montana
....no sales tax whatsover for shopping...such as it is, the shopping that is, except at Costco Billings....you should see the Wyoming trucks lined up there and that’s no joke at all.
Hey and where does our own Dick Cheney domocile and why?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.